today’s historically low rates increase your buying...
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Today’s historically low rates increase your buying power
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Historical Mortgage Interest Rates from 1984 to 2011
30-Year Fixed Rate Mortgage
1-Year Adjustable Rate Mortgage
30-Year Fixed RateMortgage Rate
3.875%August 23, 2011
This information is intended for mortgage and real estate professional use only and is not an advertisement to extend customer credit as defined by Section 226.2 Regulation Z. Program rates, terms and conditions are subject to change at any time.
Paramount Mortgage is Nationwide “From St. Louis to Seattle”Missouri • Illinois • Washington • Idaho • Florida • California • Texas
347 N. Lindbergh Blvd. • St. Louis, MO 63141314-372-4300 • 800-735-5957 • NMLS Office: 67856
www.ParamountMortgage.com
Mortgage interest rates have reached their lowest levels since 1984 increasing the average borrower’s purchasing power.
The examples below show how much more of a house you can buy using the same monthly P&I you would have paid at a much higher interest rate averaged from the last 25 years.
$150,000 $ 705 3.875% Fixed 30-year rate – as of 8/23/11 $1,025 7.250% Average 30-year rate of last 25 years $218,000 $1,025 Can buy with today’s rates!
$300,000 $1,410 3.875% Fixed 30-year rate – as of 8/23/11 $2,046 7.250% Average 30-year rate of last 25 years $430,000 $2,046 Can buy with today’s rates!
$550,000 $2,281 2.875% 5/1 ARM as of 8/23/2011 $3,751 7.250% Average rate of last 25 years $904,000 $3,751 Can buy with today’s rates!
$800,000 $3,319 2.875% 5/1 ARM as of 8/23/2011 $5,457 7.250% Average rate of last 25 years $1,310,000 $5,457 Can buy with today’s rates!
In every case, your monthly P&I payment can purchase more house with today’s low rates when compared with a monthly P&I payment based on the average 30-year rate from the last 25 years.
The Same Monthly Payment
at 7.25% ....
.... buys a BIGGER Home at
TODAY’s LOW RATES
Finance Principal & Average rate for the past 25 years Amount Interest (P&I) compared to a current low rate
• Points/fees/rates may vary for different loan amounts and will affect the actual APR. • Quoted rates are for 740+ credit scores with 75% LTV or less. • All pricing dependent on applicant’s loan to value, credit score, and state residence. • Please contact us for quotes for rates for FHA, VA, MHDC and USDA loans.
• Conforming rates for loans in the St. Louis Metro are for a primary residence over $125,000 & under $417,000.
• Examples are for illustration purposes only and are not an offer to extend credit.
Tony GrafalsMortgage BankerDirect: (314) 372-4326eFax: (314) 587-7226 Mobile: (314) [email protected] ID: 242449 • Missouri: 381-MLO
Rachel RufkahrMortgage BankerOffice: (314) 372-4321Cell: (636) 734-3721eFax: (314) 587-7221 [email protected] ID: 298479 • Missouri: 1866-MLO