Market Report Comparison: 11/18/2024 vs. 11/25/2024 📊

Matthew Wentz
Speak Straight Mortgage
NMLS #1852397

📈 Purchase Rates

• FHA Purchase ($400K, 3.5% Down, 660 Credit Score):
  11/18: 5.75% Rate, 6.59% APR, 1.5 Points
  11/25: 5.75% Rate, 6.52% APR, 0.86 Points 🔻 (Decrease in APR and Points)
• Conventional Purchase ($400K, 25% Down, 780 Credit Score):
  11/18: 6.5% Rate, 6.63% APR, 1.1 Points
  11/25: 6.5% Rate, 6.58% APR, 0.6 Points 🔻 (Decrease in APR and Points)
• VA Purchase ($400K, 0% Down, 660 Credit Score):
  11/18: 5.75% Rate, 6.13% APR, 1.7 Points
  11/25: 5.75% Rate, 6.07% APR, 1 Point 🔻 (Decrease in APR and Points)

📉 Down Payment Assistance Programs

• CHFA SmartStep (4% Silent Second):
  11/18: 7.0% Rate, 7.91% APR
  11/25: 7.0% Rate, 7.91% APR ⚖️ (No Change)
• CHFA First Step / First Generation (4% Silent Second):
  11/18: 6.75% Rate, 7.65% APR
  11/25: 6.75% Rate, 7.65% APR ⚖️ (No Change)
• CHFA Smart Step (3% Grant):
  11/18: 7.5% Rate, 8.42% APR
  11/25: 7.5% Rate, 8.42% APR ⚖️ (No Change)

🔄 Refinance Rates

• Conventional Refinance (80% LTV, $400K, 780+ Credit Score):
  11/18: 6.125% Rate, 6.32% APR, 1.82 Points
  11/25: 6.125% Rate, 6.24% APR, 1 Point 🔻 (Decrease in APR and Points)
• FHA Streamline Refinance ($400K, 660+ Credit Score):
  11/18: 5.75% Rate, 6.59% APR, 0.5 Points
  11/25: 5.75% Rate, 6.49% APR, 0.2 Credit 🔻 (Decrease in APR and Points)
• VA IRRL ($400K, 660+ Credit Score):
  11/18: 5.75% Rate, 5.89% APR, 0.75 Points
  11/25: 5.75% Rate, 5.82% APR, 0 Points 🔻 (Decrease in APR and Points)

Summary

This week shows a positive trend 📉 with decreases in APRs and points across most programs. If you’re