Market Report Comparison: 11/11/2024 vs. 11/18/2024 📊

Matthew Wentz
Speak Straight Mortgage
NMLS #1852397

📈 Purchase Rates

• FHA Purchase ($400K, 3.5% Down, 660 Credit Score):
  11/11: 5.75% Rate, 6.53% APR, 0.93 Points
  11/18: 5.75% Rate, 6.59% APR, 1.5 Points 🔺 (Increase in APR and Points)
• Conventional Purchase ($400K, 25% Down, 780 Credit Score):
  11/11: 6.5% Rate, 6.59% APR, 0.7 Points
  11/18: 6.5% Rate, 6.63% APR, 1.1 Points 🔺 (Increase in APR and Points)
• VA Purchase ($400K, 0% Down, 660 Credit Score):
  11/11: 5.75% Rate, 6.07% APR, 1.1 Points
  11/18: 5.75% Rate, 6.13% APR, 1.7 Points 🔺 (Increase in APR and Points)

📉 Down Payment Assistance Programs

• CHFA SmartStep (4% Silent Second):
  11/11: 6.875% Rate, 7.78% APR
  11/18: 7.0% Rate, 7.91% APR 🔺
• CHFA First Step / First Generation (4% Silent Second):
  11/11: 6.625% Rate, 7.52% APR
  11/18: 6.75% Rate, 7.65% APR 🔺
• CHFA Smart Step (3% Grant):
  11/11: 7.375% Rate, 8.29% APR
  11/18: 7.5% Rate, 8.42% APR 🔺

🔄 Refinance Rates

• Conventional Refinance (80% LTV, $400K, 780+ Credit Score):
  11/11: 6.125% Rate, 6.25% APR, 1.1 Points
  11/18: 6.125% Rate, 6.32% APR, 1.82 Points 🔺 (Increase in APR and Points)
• FHA Streamline Refinance ($400K, 660+ Credit Score):
  11/11: 5.625% Rate, 6.41% APR, 0.5 Points
  11/18: 5.75% Rate, 6.59% APR, 0.5 Points 🔺 (Increase in Rate and APR)
• VA IRRL ($400K, 660+ Credit Score):
  11/11: 5.625% Rate, 5.77% APR, 0.8 Points
  11/18: 5.75% Rate, 5.89% APR, 0.75 Points 🔺 (Increase in Rate and APR)

Summary

This week shows **slight increases 📈 in APRs and Points** across most programs, with Down Payment Assistance rates also trending upward. If you’re considering buying or refinancing, reach out today to explore how these changes could impact your options! 📞