Wakefield Co-operative Bank [Mortgage Rates] -

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Home > Loan Information > Mortgage Rates

Program	Term	Interest Rate	Points	APR	Monthly Payments per $1000 borrowed
Conforming Fixed Rate Mortgage Loan* (Effective: Monday, October 03, 2022)
Fixed Rate Mortgages	10 years	5.875%	1	6.552%	$11.04
	15 years	5.875%	1	6.353%	$8.37
	20 years	6.625%	0	6.892%	$7.53
	30 years	6.875%	0	7.084%	$6.57
Annual Percentage Rate (APR) assumes a $100,000 loan with a 20% down payment. The "Monthly Payments per $1000 borrowed" amounts referenced above do not include real estate taxes and insurance. The actual monthly payment will be higher if an escrow account is established or required. Other terms and conditions may apply. All posted rates are considered benchmark rates. Your actual rate and points may be different.*

Conforming Adjustable Rate Mortgage Loan*
(Effective: Monday, October 03, 2022)

Program

Term

Interest Rate

Points

APR

Monthly Payments
per $1000 borrowed

3/1 Year ARM (1)

(Current Index: 4.08%;
Fully indexed rate: 6.875%)

360 months

4.000%

6.214%

1	to	3 years	$4.77
4	to	30 years	$6.80

5/5 Year ARM (2)

(Current Index: 3.81%;
Fully Indexed Rate: 6.500%)

360 months

4.250%

5.712%

1	to	5 years	$4.92
6	to	30 years	$6.75

7/1 Year ARM (3)

(Current Index: 4.08%;
Fully indexed rate: 6.875%)

360 months

4.500%

5.808%

1	to	7 years	$5.07
8	to	30 years	$7.22

10/1 Year ARM (3)

(Current Index: 4.08%;
Fully indexed rate: 6.875%)

360 months

4.750%

5.648%

1	to	10 years	$5.22
11	to	30 years	$7.68

*Annual Percentage Rate (APR) assumes a $100,000 loan with a 20% down payment. The "Monthly Payments per $1000 borrowed" amounts referenced above do not include real estate taxes and insurance. The actual monthly payment will be higher if an escrow account is established or required. Annual Percentage Rate (APR) may increase after consummation. Other terms and conditions may apply.

All posted rates are considered benchmark rates. Your actual rate and points may be different.

(1) Caps- 2/2/6 with 2.750% margin. The current index is based on the weekly average yield on U.S. Treasury Securities adjusted to constant maturities of 1 year. The fully indexed rate is the index plus margin, rounded to the nearest .125%.

(2) Caps- 2/2/6 with 2.750% margin. The current index is based on the weekly average yield on U.S. Treasury Securities adjusted to constant maturities of 5 years. The fully indexed rate is the index plus margin, rounded to the nearest .125%.

(3) Caps- 5/2/5 with 2.750% margin. The current index is based on the weekly average yield on U.S. Treasury Securities adjusted to constant maturities of 1 year. The fully indexed rate is the index plus margin, rounded to the nearest .125%.

Program	Term	Interest Rate	Points	APR	Monthly Payments per $1000 borrowed
Fixed Jumbo Mortgage* (Effective: Monday, October 03, 2022)
15 Year Fixed Jumbo Mortgage	180 months	5.875%	1	6.009%	$8.37

30 Year Fixed Jumbo Mortgage	360 months	6.625%	0	6.700%	$6.40
Annual Percentage Rate (APR) assumes a $700,000 loan with a 20% down payment. The "Monthly Payments per $1000 borrowed" amounts referenced above do not include real estate taxes and insurance. The actual monthly payment will be higher if an escrow account is established or required. All posted rates are considered benchmark rates. Your actual rate and points may be different.* Maximum loan amount is $1 million. Available for owner occupied primary residence of single family, condominium unit, or planned unit development (PUD) properties. Other terms and conditions may apply. Also Available: No Points No Closing Cost Programs Investment Property Financing First Time Homebuyer Programs Bridge Loans

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