Utah
Mortgage Rates;
The Utah market is slowing but remains strong and solid for 2007. The Utah economy is looking very strong and job growth is the main driving force. With more people moving into the state and more jobs around, this bodes well for the housing market.
More people means more house purchases. Mortgage rates are expected to be kept low so this can only help the housing market.
For sellers, homes at the lower end of the scale will continue to appreciate and attract multiple buyers. Sellers of homes in the mid range will need to be more realistic with their pricing and be prepared to offer incentives. There isn’t a surplus of inventory which means that prices should still appreciate.
Buyers will have a lot of choice and with the economy strong and low interest rates, this is a good time to enter the property market or move up the ladder. Buyers need to shop around, ensure that they get the best deal and negotiate for extra incentives. Property remains a great investment and buyers should be confident about making that investment.
Below is an example of rates currently offered.
For loans up to $417,000
30 Yr Fixed : rates from 5.25% to 6.0%
15 Yr Fixed : rates from 4.75% to 5.875%
1 Yr ARM: rates from 0.5% to 5.5%
3/1 ARM : rates from 5.125% to 5.75%
5/1 ARM : rates from 5.375% to 6.0%
For loans above $417,000
30 Yr Fixed Jumbo : rates from 5.75% to 6.250%
15 Yr Fixed Jumbo : rates from 5.375% to 6.0%
1 Yr ARM Jumbo : rates from 5.375% to 5.75%
3/1 ARM Jumbo: rates from 5.5% to 6.0%
5/1 ARM Jumbo : rates from 5.5% to 6.0%
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Looking for a mortgage in one of Utah's major cities? Click any of the cities below for more mortgage information.
Major Utah
Cities;
Cedar City
Logan
Salt Lake City
Vernal
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