Mortgage Rates - Tuesday July 1, 2008

MORTGAGE RATE TREND:
Short term .... steady
Long term ... slight increase
Lock? If you are in escrow LOCK. If you are thinking about refinancing - Float cautiously.

CONFORMING LOANs (up to $417,000)
30 year fixed
5.875% 2 points
6.000% 1 1/4 points
6.125% .625 points
6.250% -0- points
30 year fixed interest only
6.250% 1 1/4 points
6.375% .625 points
6.500% -0- points
5/1 ARM
5.500% 1 point
7/1 ARM
5.750% 1 point
20 year fixed
6.000% 1 point
15 year fixed
5.625% 3/4 point

Conforming Jumbo (from $417,001 to $697,000)
30 year fixed (restrictions may apply)
6.375% 1/2 point
6.625% -0- points