Mortgage interest rates have stayed surprisingly low in Orange County as February has gotten underway. While analysts expect an increase is right around the corner if the Fed carries through with it plan to end the Mortgage Backed Securities purchase program, the MBS market rallied while the stock market suffered.
Orange County FHA and VA Interest Rates
Orange County FHA and VA 30 year fixed interest rates are in the 5% to 5.5% range at a 1 point cost, depending on loan size and FICO score. FHA only requires a 3.5% down payment, while VA is a 100% financing program. The last of the $0 down loan programs.
Orange County Conventional Mortgage Rates
Orange County Conventional 30 year fixed rates are in the 4.75% to 5.25% range, while 15 year fixed rates are in the 4.25% to 4.75% range. There are several factors that affect the interest rate, such as loan amount, loan to value, FICO score, occupancy, condo versus single family residence.
Authored by Tim Storm, an Orange County, CA Loan Officer – Please contact me for more information about an Orange County, CA home loan. 877-786-4243 x 7.
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* Licensed by Department of Corporations under the California Residential Mortgage Lending Act. PRMI Branch License 813F487.
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