Denver Mortgage Rate Update 5-29-2008
May 29, 2008 by Bob Schenkenberger · Leave a Comment
Here are current mortgage rates for the Denver Metropolitan area. These rates change constantly, so they are subject to change. I will post new rate information if these figures increase, or decrease dramatically.
Conventional 30 year fixed: 6.25% up from 5.875% last week
FHA/VA 30 year fixed: 6.125 up from 5.875% last week
5 year interest only ARM: 5.5% up from 5.375% last week
Jumbo 30 year Fixed: 8.125% (OUCH!)
We actually have some news this week. Mortgage Bonds have made a decisive cross below the 200 day moving average, which is a STRONG indication of rising rates. Barring a quick reversal of the bond markets, we will most certainly continue to see a rise in mortgage rates. Stay Tuned!
If you have any questions about mortgages, or how to lock in a rate, please contact us at any time.
photo credit: kevindooley
Bob has been an active REALTOR for Over 20 years. During this time, he has closed over 500 transactions, and has been the broker of record for 1000's more. Bob can be reached via email (bob@gethomedenver.com) or phone (303.770.1180.)
Facebook Comments