1/13/2025 What are current mortgage rates?

📊 Market Report Comparison: 1/6/2025 vs. 1/13/2025 📈

🔑 Speak Straight Mortgage – Matthew Wentz
📋 NMLS #1852397

💡 Reminder: All programs (except CHFA Down Payment Assistance) come with 0 lender fees!

🏡 Purchase Loans

• FHA 400K purchase price, 3.5% down, 660+ credit score:
  • ✅ Rate: 6.25% (unchanged)
  • 📉 Points: Increased from 0.44 → 1.15
  • 📈 APR: Increased from 6.99% → 7.06%
  • 💸 P&I Payment: Remains $2,579
• VA 400K purchase price, 0 down (first use) 660+ credit score:
  • ✅ Rate: 6.25% (unchanged)
  • 📉 Points: Increased from 0.6 → 1.31
  • 📈 APR: Increased from 6.54% → 6.61%
  • 💸 P&I Payment: Remains $2,516
• Conventional 400K purchase price, 25% down,  780+ credit score:
  • ✅ Rate: 6.88% (unchanged)
  • 📉 Points: Increased from 0.65 → 1.28
  • 📈 APR: Increased from 6.97% → 7.03%
  • 💸 P&I Payment: Remains $1,971

💰 Refinance Loans

• FHA Streamline 400K Base loan amount, 660+ credit score:
  • ✅ Rate: 6.25% (unchanged)
  • 📉 Points: Increased from 0 → 0.39
  • 📈 APR: Increased from 7.02% → 7.06%
  • 💸 P&I Payment: Remains $2,689
• VA IRRL 400K Base loan amount, 660+ credit score:
  • ✅ Rate: 6.25% (unchanged)
  • 📉 Points: Increased from 0 → 0.69
  • 📈 APR: Increased from 6.32% → 6.39%
  • 💸 P&I Payment: Remains $2,463
• Conventional Refi 400k loan amount, 80% LTV, 780+ credit score:
  • ✅ Rate: 6.88% (unchanged)
  • 📉 Points: Increased from 0.55 → 1.1
  • 📈 APR: Increased from 6.96% → 7.01%
  • 💸 P&I Payment: Remains $2,628

💸 CHFA Down Payment Assistance

400K Purchase Price, 3.5% down, 620+ credit score

• Smart Step 4% Silent Second FHA:
  • 📈 Rate: Increased from 7.125% → 7.25%
  • 📈 APR: Increased from 8.04% → 8.16%
  • 💸 P&I Payment: Increased from $2,823 → $2,856
• Smart Step 3% Grant FHA:
  • 📈 Rate: Increased from 7.625% → 7.75%
  • 📈 APR: Increased from 8.55% → 8.68%
  • 💸 P&I Payment: Increased from $2,957 → $2,991
• First Step / First Generation FHA:
  • 📈 Rate: Increased from 6.875% → 7.00%
  • 📈 APR: Increased from 7.78% → 7.91%
  • 💸 P&I Payment: Increased from $2,857 → $2,891

New Grant Program (Not CHFA)

400K Purchase Price, 3.5% down, 660+ credit score

• 3.5% Grant:
  • 📈 Rate: 7.25% | APR: 8.24% | P&I: $2,856

📝 Summary:
✅ Purchase Loans: Rates unchanged, but points and APR increased across all programs.
📈 Refinance Loans: Rates stable, but points and APR increased slightly.
💸 CHFA Down Payment Assistance: Rates, APR, and payments slightly increased across the board.

📩 Have questions about these changes? Reach out anytime for personalized advice!