Office of Loan Programs Current MOP Rate
Mortgage Origination Program
Interest Rate: 4.90%
(*Effective August 2008 - October 2008)
* Interest Rate shown applies to loans that are issued a “loan commitment” within the time period specified above. Loans issued a “pre-approval” only do not have a locked-in rate.
The Mortgage Origination Program (MOP) provides first deed of trust variable rate loans with up to 40-year terms with an initial rate equal to the most recent four quarter average
rate of return of the University's Short-Term Investment Pool (STIP)
plus an administrative fee of 0.25% which is included in the rate
shown below. STIP was established in fiscal 1976 and is an interest-only
cash investment pool in which all University fund groups participate,
including current funds earmarked to meet payrolls, operating expenses,
and construction at all campuses and teaching hospitals of the University.
Listed below are the MOP rates in effect for the most recent four quarters:
| |
November 2007 - January 2008 ................................. |
5.00% |
| |
February 2008 - April 2008.......................................... |
5.10% |
| |
May 2008 - July 2008.......................................... |
5.10% |
| |
August 2008 - October 2008 ................................. |
4.90% |
- For
a listing of the historical MOP interest rates click
here.
- For
a chart comparing the historical MOP rate with conventional
mortgage rates, click here.
|
