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Salem Five Mortgage Rates

Posted by Jesse Shand On Jan - 17 - 2019

Find the latest mortgage rates and terms offered by Salem Five Mortgage in Massachusetts.  Salem Five is one of the largest bank mortgage lenders and servicers of mortgage loans headquartered in New England.  Salem Five conducts home lending in Massachusetts, Maine, New Hampshire and Rhode Island.

The competitive mortgage rates on Salem Five loan products can be found on fixed rate mortgages, adjustable rate mortgages, construction loans and renovation loans, jumbo mortgages, reverse mortgages, VA mortgages, home equity loans and lines of credit as well as specialty loans.  Mortgage loans are provided for new home purchases, second homes and vacation homes, refinances for a variety of purposes and home renovation projects.

Current Salem Five mortgage rates for June 17, 2013 include the following interest rates, points and APRs:

The Salem Five 15 year fixed rate mortgage is 2.875% with 1.75 points and an APR of 3.274% 

A 30 Year fixed rate mortgage at Salem Five has an interest rate of 3.750% and 1.63 points and a 3.968% APR.

The mortgage rates listed are current as of June 17, 2013 and are subject to change at any time and without notice.  The loan rates listed are available for owner occupied, single family properties with a combined loan to value (CLTV) up to 75% or less with a credit score(s) of 740 or greater for a lock period of 30 days for purchase and rate and term refinance loans.  The bank mortgage rates and Annual Percentage Rates may vary depending on specific loan details, such as the property type, loan amount, loan to value ratio, credit history or other specific loan request attributes.

The bank loan rates are based on the institution’s online published rates and may have changed since this publication date.  This information is believed to be reliable, but the information is not guaranteed.  Contact the bank directly for the most up to date and accurate mortgage rates and loan terms.

A Salem Five mortgage loan officer can be reached by calling the bank at 800-850-5000.  Salem Five operates over 20 bank branches throughout greater Boston.  A list of branch locations with the address, phone number and hours of operation can be found at Salem Five locations.

Additional resources to help consumers find the best mortgage rates in the region are available at SelectCDrates.com under the bank rate tables titled Massachusetts mortgage rates or Boston mortgage rates.

Home loan tip: time to fix rates

Posted by Jorja Marion On Sep - 6 - 2018

Short-term interest rates are now noticeably cheaper than floating in some cases, so bank economists suggest it is time to fix at least part of your home loan.

ANZ chief economist Cameron Bagrie said buyers were unlikely to lose out if they locked in cheap rates now.

“If you fix for 18 months at 5.49 per cent, you will save 0.25 per cent compared to the floating rate,” Bagrie said. “Ignoring discounting, the only way you’ll be better off floating is if the floating rate comes down and averages below 5.49 per cent over the next 18 months.”

Senior economist Mark Smith said borrowers should spread their loans over a range of terms. “There’s definitely flexibility in floating.”

But he cautioned against fixing for a longer term.

How Fed moves affect mortgage rates

Posted by Jorja Marion On Sep - 21 - 2017

The Fed’s actions influence rates more than you realize. Here’s why they’re at record lows today.

Click through the timeline below to see the effect the Fed’s moves had on mortgage rates.


End of QE2 QE2 End of QE1 QE1 2008 Financial crisis

2008 financial crisis (collapse/bailout phase): September/October 2008

The government claimed the bailout was necessary to provide stability in the economy and prevent disruption in the financial system. T

US Mortgage Rates August 22, 2011

Posted by Jesse Shand On Aug - 24 - 2017 1 Comment »

US mortgage rates diverged from the direction of Treasury rates over the past week.  Mortgage rates in the U.S.

Mortgage rates back on the rise

Posted by Levi Dynon On Jul - 5 - 2017

 

Yet if the economic outlook does continue to improve, there is little likelihood that interest rates can continue on a downward path, and signs of improvement in the economic climate—even sporadic ones—will cause an upward pop in interest rates.

To sustain any increase in mortgage rates, we’ll need either a sustained increase in stronger economic news (especially job markets) or a renewed bout of inflation (which seems unlikely at the moment, particularly if oil holds below $100/bbl.). Well get a sense of any possible improvement this week when the employment report is released on Friday.

Mortgage rates rise some more?

Mortgage rates will be higher, perhaps 10-15 basis points higher, by the time mid-week rolls around. That wo