Market Report Comparison: 12/16/2024 vs. 12/09/2024 📊

Matthew Wentz
Speak Straight Mortgage
NMLS #1852397

📈 Purchase Rates

• FHA Purchase (3.5% Down, 660+ Credit 400k Purchase Price):
  12/16: 5.75% Rate, 6.55% APR, 1.15 Points
  12/09: 5.75% Rate, 6.47% APR, 0.35 Points 🔺
• Conventional Purchase (25% Down, 780 Credit):
  12/16: 6.5% Rate, 6.60% APR, 0.77 Points
  12/09: 6.5% Rate, 6.53% APR, 0 Points 🔺
• VA Purchase (0% Down, 660+ Credit):
  12/16: 5.75% Rate, 6.09% APR, 1.3 Points
  12/09: 5.75% Rate, 6.02% APR, 0.55 Points 🔺

📉 Down Payment Assistance

• CHFA SmartStep (4% Silent Second 400K Purchase Price):
  12/16: 6.875% Rate, 7.78% APR
  12/09: 6.875% Rate, 7.78% APR ⚖️
• CHFA First Step / First Generation (4% Silent Second):
  12/16: 6.625% Rate, 7.52% APR
  12/09: 6.625% Rate, 7.52% APR ⚖️
• CHFA Smart Step (3% Grant):
  12/16: 7.375% Rate, 8.29% APR
  12/09: 7.375% Rate, 8.29% APR ⚖️

🔄 Refinance Rates

• Conventional Refi (80% LTV, 780+ Credit 400K loan Amount):
  12/16: 6.125% Rate, 6.31% APR, 1.67 Points
  12/09: 6.125% Rate, 6.21% APR, 0.6 Points 🔺
• FHA Streamline Refi (660+ Credit):
  12/16: 5.75% Rate, 6.53% APR, 0.39 Points
  12/09: 5.75% Rate, 6.49% APR, 0.4 Credit 🔺
• VA IRRL Refi (660+ Credit):
  12/16: 5.75% Rate, 5.87% APR, 0.6 Points
  12/09: 5.75% Rate, 5.82% APR, 0.1 Credit 🔺

Summary

Compared to last week (12/09/2024), we’re seeing slight increases 📈 in APRs and points for most purchase and refinance loans. Down Payment Assistance programs remained unchanged ⚖️. If you’re considering buying or refinancing, let’s discuss how these shifts may affect your plans. Reach out today! 📞