Mortgage Newsletter

Mortgage Newsletter / Updates

Please find the latest Mortgage Updates from Will Dukes & Puja Romera, some of the lenders who we have worked with and recommend to compare with, so as to fully help our Buyers (& Sellers).  (Please compare their rates and terms with other lenders; always compare, and ask questions)

We can send you Will's or Puja's most recent Rate Sheets / other information separately, please email Barry@SWFLLuxury.Com  to request it, thanks.

05 / 13 / 2021 Update from Will Dukes of Summit Mortgage:

Good afternoon! Below (and attached) please find your weekend ratesheet.

 

COMMENTARY: This week was an important one for future mortgage rates as the Senate confirmed Federal Reserve Chairman Jerome Powell to a second four-year term. Following his confirmation, Powell said the Fed was prepared to act aggressively to bring down inflation to its 2% goal even if it created a short-term hit to the economy, his most explicit acknowledgment of the risks posed by a sequence of rapid rate increases.  For the Fed to feel confident inflation is headed below 3%, it needs to see lower wage growth, which generally requires slower economic growth and higher unemployment, and it will keep raising interest rates until those things happen.


Looking ahead to next week’s economic news schedule, Tuesday’s April Retail Sales report takes center stage with sales projected to have climbed +0.9% higher after a 0.5% gain in March. Surging sales suggest the consumer remains alive and well – driving economic growth yet higher – a process that will likely keep the pressure building on yet higher inflation. So don’t look for mortgage investors to celebrate this news by pushing rates lower in the near future.


Have a great weekend!

05/18/2022 Rate Sheet Update from Puja Romero of Sanibel Captiva Community Bank:

RATE SHEET
May 18, 2022

 

PROPERTY TYPE

LOAN TYPE

RATE

POINTS

APR* 

Payment Per$100,000 

Single Family, Condominiums

Loan amounts

$647,200 or less

 

 30 YEAR FIXED

5.625%

-0-

5.671%

 

 $575.66

Second Home 30 YEAR FIXED

6.125%

-2-

6.391%

 $607.61

 FHA

4.125%

-0-

5.652%

 $493.13

Single Family, Condominium

Loan amounts greater

 

than $647,200

 

 

JUMBO

 7/6 ARM

5.000%

-0-

 

4.149%

 

$536.82

Second Home 7/6 JUMBO ARM

4.750%

-1-

3.934%

 $521.65

30 YEAR FIXED

5.875%

-0-

5.895%

 $591.54

Second Home 

30

YEAR 

FIXED

5.875%

 -0-

5.895%

$591.54

 

Portfolio Lending:

 Condo-Tels

to 80% LTV

 

 SFR to 89% LTV,

NO MI

 

3/1 ARM

5.500% 

-1-

5.798%

$567.79

For more details or a custom quote, please contact me.  Rates are subject to change without notice and are dependent on applicant's unique credit history and transaction details.Foreign Nationals, Jumbo and Super Jumbo, Condominiums & Condotels - All Welcome


Sanibel Captiva Community Bank 

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