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Average Mortgage Rates

June 21, 1987

Rates offered by California lenders

Avg. Lowest Avg. Avg. Type rate rate fees pts. APR First mortgages Conforming 30-year, fixed 10.58% 10.38% $282 1.87 10.85 Jumbo 30-year, fixed 11.29 10.88 288 2.02 11.59 Conforming 15-year, fixed 10.27 10.00 282 1.88 10.66 Jumbo 15-year, fixed 10.89 10.50 289 2.00 11.31 Conforming 30-year, adjustable 8.08 7.25 261 2.57 8.39 Jumbo 30-year, adjustable 8.10 7.25 261 2.26 8.37 Second mortgages Conforming 15-year, fixed 11.22% 10.25% $244 3.90 12.00

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 June 17.

Source: CompuFund Inc., Santa Ana

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