This week’s Interest Rate (24th Week) (Fairway Asset ) 30 yr fx(%) 15 yr fx(%) FHA(%) 10 yr Tr Y (%) A year ago 3.875 3.39 A month ago 3.25 2.77 This week 2.99 2.75 3.25 0.814 (The rate based on 25% down payment with 740 above credit score) Prime Rate:3.0% / Ref IR: 0.00- 0.25%...
by stephenlee
This week’s Interest Rate (23th Week) (Fairway Asset ) 30 Y Rate: 2.999%/ 15 Year Rate:2.750%/ 10 Y Treasury: 0.6720%/ FHA:3.250% Prime Rate:3.0% / Ref IR: 0.00- 0.25% (The rate based on 25% down payment with 740 above credit score) We have Special Programs for Owner Occupy and 2nd Home. Conventional interest rate is lowest in history. Government loans still have liquidity...
by stephenlee
This week’s Interest Rate (22nd Week) (Fairway Asset ) 30 Y Rate: 2.999%/ 15 Year Rate:2.625%/ 10 Y Treasury: 0.692%/ FHA:3.490% Prime Rate:3.0% / Ref IR: 0.00- 0.25% (The rate based on 25% down payment with 740 above credit score) We have Special Programs for Owner Occupy and 2nd Home. Conventional interest rate is lowest in history. Government loans still have liquidity problems. ...
by stephenlee
This week’s Interest Rate (21st Week) (Time Mortgage ) 30 Y Rate: 3.250%/ 15 Year Rate:2.75%/ 10 Y Treasury: 0.718%/ FHA:3.490% Prime Rate:3.0% / Ref IR: 0.00- 0.25% Fort Lee, NJ opens Coronavirus testing to all residents (The Record 5/20) The mayor Mark Sokolich said through video announcing that the borough is conducting its own coronavirus testing , open to everybody...
by stephenlee
This week’s Interest Rate (20th Week) (Fairway Asset Corp.) Y Rate: 3.000%/ 15 Year Rate:2.625%/ 10 Y Treasury: 0.691%/ FHA:3.490% Prime Rate:3.0% / Ref IR: 0.00- 0.25% A special program for Owner Occupy and 2nd Home available. Conventional interest rate is lowest in history. Government loans still have liquidity problems. Palisades Park, NJ will operate COVID-19 Testing facility...
by stephenlee
This week’s Interest Rate (19th Week) (Fairway Asset Corp.) 30 Y Rate: 3.375%/ 15 Year Rate:2.875%/ 10 Y Treasury: 0.657%/ FHA:3.490% Prime Rate:3.0% / Ref IR: 0.00- 0.25% Conventional rates are getting better, but Government loans(FHA,VA, USDA) still have difficulties. Palisades Park, NJ will raise Property Tax by average $97 (The Korea Times 4/29) Town government has...
by stephenlee
This week’s Interest Rate (18th Week) (Fairway Asset Corp.) 30 Y Rate: 3.375%/ 15 Year Rate:2.99%/ 10 Y Treasury: 0.549%/ FHA:3.490% Prime Rate:3.0% / Ref IR: 0.00- 0.25% Conventional rates are getting better, but Government loans(FHA,VA, USDA) still have difficulties. Investigation started on Unfair PPP Approval (The Korea Times 4/28, 4/29) The Democrats initiated SBA to begin...
by stephenlee
This week’s Interest Rate (17th Week) (Fairway Asset Corp.) 30 Y Rate: 3.490%/ 15 Year Rate:3.250%/ 10 Y Treasury: 0.549%/ FHA:3.490% Prime Rate:3.0% / Ref IR: 0.00- 0.25% Conventional rates went up a little bit and Government loans(FHA,VA, USDA) still have difficulties. Jumbo loan have difficulties New Jersey Schools will be closed till 5/15/2020 (The Korea Times 4/17) New...
by stephenlee
This week’s Interest Rate (16th Week) (Fairway Asset Corp.) 30 Y Rate: 3.490%/ 15 Year Rate:2.875%/ 10 Y Treasury: 0.879%/ FHA:3.490% Prime Rate:3.0% / Ref IR: 0.00- 0.25% Conventional rates are getting better, but Government loans(FHA,VA, USDA) still have difficulties. NY State might hit the Apex of COVID-19 death toll ( The Korea Times 4/14) As of 4/13, dealth toll is 10,056 in...
by stephenlee
This week’s Interest Rate (15th Week) (Fairway Asset Corp.) 30 Y Rate: 3.490%/ 15 Year Rate:2.99%/ 10 Y Treasury: 0.687%/ FHA:3.490% Prime Rate:3.0% / Ref IR: 0.00- 0.25% The U/W guidelines getting tighten during the COVID-19. Some of lenders cap the DTI lower than normal time and require 3 month reserves. ( See below) Jersey City councilman, Michael Yun died of the complication due to...
by stephenlee
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