market update

Interest rates :

30 yr fixed conforming 6.625%
15 yr fixed conforming 6.25%

30 yr fixed jumbo 7.125%
7 yr fixed jumbo 6.25%
5 yr fixed jumbo 6%
3 yr fixed jumbo 5.875%

Monta Vista Deal :

Get 2 houses for the price of $1.5m

The 2nd house can be rented for 2000/month, that's cash for paying interest of 300K in mortgage and put this house's actual cost at about $1.2m after factoring in the rental income. The only down side is the location, it's facing a senior's apartment.
It's nonetheless a Monta Vista home.

It's on the market for more than 3 weeks. A lower offer may work.

Jumbo 30-yr fixed at 7.64%

According to an WSJ article ,
30 year fixed Jumbo rate is now 7.64%...

Making it very costly for purchasing home over $500K.

The only good loan right now is 15 yr fixed conforming ( 417K ) at 6.25%.

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