Vantage Mortgage Weekly Interest Rate Tracker – 2/16/22

DATE: Wednesday, February 16th, 2022

TIME:  3:30 PM PST

STATES:  OREGON & WASHINGTON

CHANGE THIS WEEK:  WORSE (since last Wednesday with daily volatility)

SUGGESTION: Due to recent market volatility and interest rates up around 1% in the last several weeks, we advise to lock due to the negative trends and inflationary pressures. If you choose not to lock, get updates often from your VM Broker and be in a position to lock when ready. Rates are still historically low in the grand overview, just not at the ridiculous lows seen in 2020-2021.

MONTHLY PAYMENTS: This reflects Principal and Interest (P&I) on Conventional and also including PMI on FHA. Taxes and insurance not included, but need to be factored in housing payments and budget as these can vary by property. A VMG Mortgage Broker can run an analysis anytime by request.

(rates subject to change)

*Rates change daily. Conforming conventional interest rate samples based off $375,000 purchase price, $300,000 loan amount, 80% Loan to Value, 740 or higher FICO score, with impounds on a 30 day rate lock period and $995 underwriting fee if not covered by lender rebates. FHA based off $375,000 purchase price, 3.5% down payment, but other same variables. Costs or credits shown pertain to interest rate and do not include any other applicable 3rd party title and escrow charges or prepaid tax and insurance reserves which may or may not apply. Lock period suggested depends on current loan volume and lending climate at time of loan application and approval. Other risk-based pricing adjustment may apply. The displayed annual percentage rates (APRs) include total points and additional prepaid finance charges but do not include other closing costs. On adjustable-rate loans, rates are subject to increase over the life of the loan.  Learn more about assumptions and APR Information. Loan pricing may only be locked  through a home loan consultant to be effective. Rates will depend in part on your unique credit history and transaction characteristics. Please email or call for updated pricing at any time as rates and pricing are subject to change. Monthly payments include principal, interest, and PMI if applicable, but not taxes and insurance. This information does not constitute a loan commitment or approval.