MORTGAGE MONDAY – OCTOBER 17th, 2022

✨ MARTHA’S VINEYARD

LOCAL MORTGAGE RATES ✨⁠

CURRENT NATIONAL MORTGAGE RATE AVG.

I know that many of you have read in the headlines recently that the interest rates for mortgages have gone up yet again! 😤⁠

While 6.92% is the national average for a 30-year fixed-rate, according to Freddie Mac, I encourage you to reach out to your LOCAL LENDERS as their rates may be much lower. ⁠

GREAT LOCAL RATES

This is the case for my preferred Lender here on MARTHA’S VINEYARD whose rates are still UNDER 6% (see below):⁠

Here are some of the available portfolio options for both primary, second homes and condos on jumbo mortgages over $648,000.⁠


– 30 year fixed Jumbo 5.750% 0 points (APR 5.779)⁠

– 5/1 ARM at 4.75% 0 points (APR 5.552)⁠

– 7/1 ARM at 4.875% 0 points (APR 5.469)⁠

– 10/6m ARM at 5.125 % 0 points (APR 5.108)⁠

– 7/1 ARM construction loan at 5.25% 0 points (APR 5.653) ⁠

– Construction loans up to $2,000,000!⁠

THE TIME TO BUY IS NOW

So BUYERS please don’t be discouraged, this is still a very good time to buy a home – The market is softening, there is more inventory, fewer frenzied buyers to compete with, and still very competitive rates. ⁠

LET'S CONNECT

Reach out to me anytime, if you’d like for me to connect you with a trusted Lending partner here on Martha’s Vineyard!⁠

👉 DM Me⁠
📞 619.718.1091⁠
📧Maranda.Post@Compass.com⁠

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