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2014-05-29 10:18:44
HUGE DROP in Interest Rates!!

If you are considering buying or selling real estate, especially in Utah, you should really take the time to read and study the information in this email and FORWARD it to anyone you know who is considering buying or selling real estate.

Interest Rates have dropped again! This chart below from Freddie Mac shows current interest rate trends; and our two local preferred lenders are locking rates lower than this!

Current Interest Rate Trends

We just received this email below from one of our Preferred Lenders,who originates loans at Mountain America Credit Union, with these INCREDIBLE RATES:

Mortgage Rates Thursday, May 29, 2014

Conforming (Conventional):

30 year fixed-4.00%

15 year fixed-3.00%

No fee 15 year fixed 3.625% (loan amount over $125,000)


30 year fixed-3.5%

15 year fixed-2.75%

MACU 100% first time home buyer program:

30 year fixed-5.125%

5/1 ARM-4.00%

7/1 ARM-4.125%


1XClose 30 year-4.49%

*Please remember that each of these rates can adjust higher based on credit scores, loan to value and property type.

General Loan Fees:

1% origination fee Conforming and FHA (MyStyle account gets a .2% discount to origination)

1.5% origination fee MACU and Construction (MyStyle account gets a .2% discount to origination)

$550 processing

$440 appraisal

$20 Credit Report

$??  Title insurance and title fees based on title company and loan amount


These rates are truly remarkable as we expected them to be creeping up near 5% by now. This drop in rates truly does increase a buyer's buying power and allows for a higher purchase price for the same or lower monthly payment. For Sellers, this increases the amount of potential buyers for their homes as more buyers can qualify for a larger purchase price. See chart below.


Loan Amount

2.75% interest (2012)

3.625% interest (2011 and 2013)

4.25% interest (2010 and 2014)

5% interest (2009)

6.25% interest (2008)





































*Calculations based upon 5% down conventional financing and excellent credit

For a Buyer who wants to keep their monthly payment to $1,200/month, this drop in interest rates can result in a change in buying power from $200,000 up to $230,000. That is potentially $30k more home for the SAME monthly payment if rates are 1% lower than expected.

Bottom line, right now is a great time to both buy and sell real estate in Utah County. If you are planning to buy in Utah in the near future, there may be no better time than the next month or two. Get your low rates locked in today and enjoy your savings over the life of your loan!

We also want to congratulate Susan Crawford for receiving her Accredited Buyer Representative Designation and Jacob Burdis for officially receiving his PhD from BYU!

Thanks you for your time and support! Don't hesitate to let us know how we can be of assistance. Have a wonderful weekend!

Jared Fields, JD
Senior Partner of The Jared Fields Real Estate Team

Realtor, Listing Specialist, ABR, SFR, CNE

2014: Best 'Realtor' in The Daily Herald's Best of Utah Valley
2013: RE/MAX Platinum Club, 115 Closed Transactions, 90% SOLD Rate on Listings

RE/MAX Results:
480 E 770 N, Orem, UT 84097
Cell: 801.360.1003  |  Office: 801.805.1000  |  Fax 801.805.1059

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