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).
