8/12/2024 Market Report

August 12, 2024
Matthew Wentz
Mortgage News

Market Report Comparison: 8/5/2024 vs. 8/12/2024

Matthew Wentz
Speak Straight Mortgage
NMLS #1852397

Purchase Options

FHA Loan

Property Price: $400,000
Down Payment: 3.5%
Credit Score: 660

Rates and APR:

8/5/2024: 5.25% | 6.04% APR | 1.189 Points | 0 Lender Fees
8/12/2024: 5.25% | 6.13% APR | 2.081 Points | 0 Lender Fees
Change: +0.09% APR | +0.892 Points

Rates and APR:

8/5/2024: 5.75% | 6.46% APR | 0 Points | 0 Lender Fees
8/12/2024: 5.75% | 6.64% APR | 0.61 Points | 0 Lender Fees
Change: +0.18% APR | +0.61 Points

Conventional Loan

Property Price: $400,000
Down Payment: 25%
Credit Score: 760

Rates and APR:

8/5/2024: 5.99% | 6.09% APR | 0.6 Points | 0 Lender Fees
8/12/2024: 5.99% | 6.16% APR | 1.422 Points | 0 Lender Fees
Change: +0.07% APR | +0.822 Points

VA Loan

Property Price: $400,000
Down Payment: 0%
First Use
Credit Score: 660

Rates and APR:

8/5/2024: 5.25% | 5.59% APR | 1.459 Points | 0 Lender Fees
8/12/2024: 5.25% | 5.67% APR | 2.239 Points | 0 Lender Fees
Change: +0.08% APR | +0.78 Points

Rates and APR:

8/5/2024: 5.75% | 5.99% APR | 0.17 Points | 0 Lender Fees
8/12/2024: 5.75% | 6.04% APR | 0.768 Points | 0 Lender Fees
Change: +0.05% APR | +0.598 Points

Down Payment Assistance

Property Price: $400,000
Credit Score: 620

Programs:

CHFA SmartStep: 6.75% Rate | 7.65% APR
CHFA First Step/First Generation: 6.5% Rate | 7.39% APR
CHFA Smart Step (3% Grant): 7.25% Rate | 8.16% APR

Refinance Options

Loan Amount: $400,000
Credit Score: 660

FHA Streamline

8/5/2024: 5.25% Rate | 5.98% APR | 0 Points | 0 Lender Fees
8/12/2024: 5.25% Rate | 6.03% APR | 0.545 Points | 0 Lender Fees
Change: +0.05% APR | +0.545 Points

VA IRRL

8/5/2024: 5.25% Rate | 5.31% APR | 0 Points | 0 Lender Fees
8/12/2024: 5.25% Rate | 5.39% APR | 0.784 Points | 0 Lender Fees
Change: +0.08% APR | +0.784 Points

Stay Informed on the Latest Market Trends!
Reach out if you have any questions or want to learn more about your mortgage options.

Matthew Wentz