Financial/Mortgage Update

March 14, 2009


We have had good news this week with the stock market up. Mortgage interest rates for the Palos Verdes real estate market are up slightly for a jumbo 30-year fixed loan at 6.5% versus 6.25% one month ago. As a comparison, last July the 30-year fixed jumbo was 7.75%. 6.5% is a great rate when one looks at the historical data.

Conforming loans (up to $417,000) are currently at 5.125% for a 30-year fixed loan compared to 4.75% one month ago. Last July, conforming loans were 6.5% for a 30-year fixed loan.

Above mortgage rates for Palos Verdes homes are provided by Jim Kurata, Peninsula Mortgage/Chase (310-994-2769).

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