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Rates: Open 10 am: No Change

30 yr $300K to $417K loan amounts:
Rate / Disc pts / Orig Fee
4.750% / 1.000 / 0.750

Rates match yesterday’s close - 4.625%-0.125+1.000

Mortgage rates closed flat on Thursday, declining slightly after a positive opening. AmeriFund reported that their 30 yr fixed conforming loan, 4.62526% coupon, opened at par plus 1 point origination fee for highest grade applicants on transactions with LTV ratios of 60% or less.  After mid-afternoon pricing increase this coupon was costing .125 DISCOUNT plus 1% origination fee ($175,000 loan, 4.777% APR).

Mortgage Delinquencies continue to climb

The delinquency rate for mortgage loans on one-to-four-unit residential properties rose to a seasonally adjusted rate of 7.88 percent of all loans outstanding as of the end of the fourth quarter of 2008, up 89 basis points from the third quarter of 2008, and up 206 basis points from one year ago, according to the Mortgage Bankers Association’s (MBA) National Delinquency Survey.

CheckMate by Curtis Henson is licensed under Creative Commons.