Lending Rates Update
Here are the current rates for June 1st:
30 YR. FIXED (up to $ 17,000)---> 6.625%
30 YR. FIXED ($417,000 to $1,000,000)---> 6.75%
15 YR. FIXED (up to $ 417,000)---> 6.25%
15 YR. FIXED ($417,000 to $1,000,000)---> 6.25%
10/1 YR. ARM* ---> 6.375%
7/1 YR. ARM* ---> 6.25%
5/1 YR. ARM* ---> 6.125%
3/1 YR. ARM* ---> 5.875%
*INTEREST ONLY ARM LENDING RATE WILL BE APROX. 1/8% POINT HIGHER
Rates are still heading NORTH with positive economic news. If you've been on the fence and waiting for rates to drop, it doesn't look good. Now is a good time to lock as the market seems to be steaming ahead.
Q1 productivity revised to a stronger 3.7%; unit labor costs component revised lower to 1.6%...(6/1/2006)
Year-over-year, productivity is now up 2.5% while unit labor costs are up only 0.3%. This is good news for the inflation-anxious as strong productivity continues to hold down underlying business costs and the need to drive prices higher.
Best,
Steven
Add to Newsvine
