Photo of Naomi Shiraishi Cooper

Naomi Shiraishi Cooper REALTORĀ® - Broker Associate 760-310-8777 m
760-310-8777 o
760-431-3331 f
CalBRE: 01029854
BrokerNaomi@gmail.com

Market Watch

An overview of available properties in Southern California. Quickly see changes in today's market. Listing information updated daily.

Today's Rates

Today's Mortgage Rates

The current interest rates shown below are based on a purchase of a single-family, primary residence. For current refinance rates, contact us.

Products
30yr Fixed Conforming
4.250%
4.347%
30yr Fixed FHA
3.875%
5.470%
30yr Fixed Jumbo
4.000%
4.055%
Rates as of 07/23/2014 09:15 AM Central

Important disclosures, assumptions and APR ›View/Print

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Rates Provided by

HomeServices Lending, LLC

Conforming

Conventional home mortgages eligible for sale and delivery to either the Federal National Mortgage Association (FNMA) or the Federal Home Loan Mortgage Corporation (FHLMC). These agencies generally purchase first mortgages up to loan amounts mandated by Congressional directive.

FHA

A mortgage that is backed by the Federal Housing Administration (FHA). Along with VA loans, an FHA loan will often be referred to as a government loan.

Interest Rate

The percentage of an amount of money which is paid for its use for a specified time.

Annual Percentage Rate (APR)

The cost of credit expressed as a yearly rate. The APR includes the prepaid interest rate, points, fees, and other credit charges that the borrower is required to pay, and is therefore a more complete measure of a loan's cost than the interest rate alone. The loan's interest rate, not its APR, is used to calculate the monthly principal and interest payment.

Larger Loan Amounts in Eligible Areas

In federally designated metropolitan areas, conventional and FHA loan limits have been increased to assist homebuyers. These loan amounts are higher than the typical conforming limits set by Fannie Mae and Freddie Mac. Because the amount financed is not as high as a jumbo loan, they typically offer lower interest rates than traditional jumbo loans.

Jumbo

A loan that exceeds Fannie Mae's and Freddie Mac's loan limits. Also called a non-conforming loan. Jumbo loans typically have higher interest rates.

Origination Charge

One amount that includes all charges (other than points) that all loan originators (lenders and brokers) involved in the transaction will receive for originating the loan. This includes any application, processing, and underwriting fees, and payments from the lender to the broker for origination.

First Adjusted Payment

The new estimated monthly payment due when the interest rate on adjustable-rate mortgage is reset. After the initial fixed-rate period, your interest rate can increase or decrease annually according to the market index. Any change may significantly impact your monthly payment.

Loan to Value (LTV)

The ratio of the amount of a potential mortgage to the value of the property it is intended to finance, expressed as a percentage.

First Adjusted Interest Rate

The first adjusted interest rate is an estimate of the interest rate that may be charged on the loan when it first adjusts at the end of the fixed-rate period. Since future rates cannot be predicted, it is calculated by adding the current index rate to the margin (subject to the first adjustment cap) and is rounded to the nearest 1/8th of a percent.

Fully Indexed Interest Rate

The fully indexed rate is equal to the margin plus the index (an economic indicator used to determine changes in the interest rate) rounded to the nearest 1/8th of a percent.

Fully Indexed Payment

The amount of the principal and interest payment calculated when using the fully indexed rate.

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