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Indiana Mortgage Rates 08/21/2008

Loan Type Today +/- This week
30 Yr Fixed 6.21% -0.14
15 Yr Fixed 5.84% -0.13
3/1 ARM 5.29% 5.29
5/1 ARM 5.33% 5.33
30 Yr Fixed Jumbo 6.87% -1.71

Rates may contain points

Conforming

For loan amounts up to $417,000 (APR based on $400,000)

Jumbo

For loan amounts over $417,000 (APR based on $500,000)

Interest Only (Conforming)

Interest only for first few years then adjustable for remaining term on loan amounts up to $417,000 (APR based on $400,000)

Interest Only (Non-Conforming)

Interest only for first few years then adjustable for remaining term on loan amounts over $417,000 (APR based on $500,000)

VA

Loans for Veterans up to $417,000 (APR based on $200,000)

FHA

Loan limits vary by state (APR based on $150,000)

Reduced Documentation Loans

Often used for self employed or others in lieu of tax returns and other income documentation. (APR based on $200,000)

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