O.C. mortgage rates fall

August 28th, 2008, 2:11 pm · 5 Comments · posted by Mathew Padilla

Mortgage rates in Orange County fell across the board for the week ended today.

The average rate on 30-year fixed-rate loans up to the old conforming limit of $417,000 slid to 6.139 percent with a one-point fee, the second weekly drop from a peak of 6.205 percent earlier this month – that was the highest average of the year.

And the introductory rate on a similar sized 30-year loan fixed for just one year dipped to 5.304 percent with a two-point fee from 5.479 percent last week.

Finally, the average rate for larger 30-year fixed loans between the old limit and the new one of nearly $730,000 dropped to 7.091 percent with a one-point fee from 7.177 percent a week ago.

And in related news…

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honky says:

August 28, 2008 at 3:47 pm

matt i read your book. it is a good book.

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Matt Padilla, Register Reporter and Blogger says:

August 28, 2008 at 3:51 pm

honky,

thanks for the book nod. People have been posting on this blog saying they liked the book. I’d appreciate help getting the word out about it, especially to others in the mortgage biz.

Louis says:

August 28, 2008 at 4:11 pm

I have not heard from “Lou Pacific” in a long time…….what does he think, especially after he predicted rates in 9% range.

Liar Loan says:

August 29, 2008 at 8:59 am

Matt-

I just thought you’d like to know. The book is starting to make the rounds with the senior management at my shop. I’ve seen one VP bring it in and show it to some others. So the word is getting out there.

August 29, 2008 at 10:52 am

Liar Loan,

Thanks for the heads up on Chain.

Orange County Register