Advertisement
YOU ARE HERE: LAT HomeCollections

Average Mortgage Rates

May 31, 1987

Rates offered by California lenders

Avg. Lowest Avg. Avg. Type rate rate fees pts. APR First mortgages Conforming 30-year, fixed 10.86% 10.13% $281 2.09 11.17 Jumbo 30-year, fixed 11.44 10.88 293 2.04 11.75 Conforming 15-year, fixed 10.58 10.00 281 1.95 10.99 Jumbo 15-year, fixed 11.16 10.63 290 2.01 11.58 Conforming 30-year, adjustable 8.46 7.00 267 2.38 8.75 Jumbo 30-year, adjustable 8.53 7.13 250 2.48 8.83 Second mortgages Conforming 15-year, fixed 10.63% 9.63% $235 3.84 11.38

Conforming loans are loans that do not exceed $153,100; jumbo loans are for more than that amount. APR is the total annual financing cost, expressed as a percentage. The APR for adjustable loans is based on an index designated by the lender, and assumes that the initial rate will not change. Average fees reflect one-time charges made by lenders, typically when the borrower first applies for the loan. Points are usually paid when the loan closes; one point equals one percent of the total loan amount. Rates quoted as of May 27, 1987.

Source: CompuFund Inc., Santa Ana

Advertisement
Los Angeles Times Articles
|
|
|