INTEREST RATES CONTINUE UPWARD TREND
INTEREST RATES CONTINUE UPWARD TREND
May 19th, 2013
The Mortgage Backed Security market closed last week trading down -59 bps. Interest rates continued to rapidly move higher after hitting their 2013 lows just over 2 weeks ago.
The MBS market now has a lower 20 day and 40 day average than it’s 100 day average. The stock market’s key indexes keep going higher even though economic reports aren’t showing much economic improvement. Japan’s plan to weaken it’s currency is also working against the US Bond market.
The simple truth is there is just not a lot of appetite for mortgage backed securities and we could continue to see more sell off with investors cutting their losses.
Even though fixed rates have moved higher, ARM loans don’t follow the market trends as much as fixed loans. You can still get a great ARM rate in the low to mid 2%’s if you are comfortable with a rate that is fixed for 5,7, or 10 years.
This week, Ben Bernanke will be testifying at the Joint Economic Committee and the FED minutes will be released on Wednesday. Both events usually trigger movement in the interest rate markets. The markets will likely slow down near the end of the week due to Memorial Day weekend.
Have a great Memorial Day and make it a great week!!
BEST VALUE OF THE WEEK:
5/1 ARM at 2.5% paying 0 points
TODAY’S RATES:
30 year fixed: 3.5% paying 1 point, 3.75% paying 0 points, 3.875% – $0 costs
20 year fixed: 3.5% paying .34 points, 3.625% paying 0 points, 3.75% – $0 costs
15 year fixed: 2.625% paying .95 points, 2.875% paying 0 points, 3% – $0 costs
5/1 ARM: 2.25% paying .62 points, 2.5% paying 0 points, 2.75% – $0 costs
7/1 ARM: 2.5% paying .65 points, 2.75% paying 0 points, 3%- $0 costs
30 year fixed High Balance Loan: 3.75% paying .70 points; 4% paying 0 points, 4.25% – $0 costs
30 year fixed FHA: 3.25% – $0 costs
15 year fixed FHA: 2.75% paying 0 points, 3% – $0 costs
30 year fixed VA: 3.25% paying 0 points, 3.25% – $0 costs
Today’s Mortgage Interest Rates. Current Mortgage Interest Rates and APRs for refinancing and purchasing in Arizona, California, and Colorado. Arizona Home Loans, California Home Loans, Colorado Home Loans. Mortgage Rate Sheets for fixed mortgages, ARM mortgages, Variable Mortgages, Interest Only Mortgages, HARP mortgages, HARP 2.0 mortgages, DU Refi Plus Mortgages, Freddie Mac Open Access Mortgages, Fannie Mae Home Path Mortgage, Freddie Mac Foreclosure Relief Mortgage, VA mortgages, VA Interest Rate Reduction Loans, FHA mortgages, FHA streamline mortgages, Conforming mortgages, Conventional Mortgages, 100% Financing Mortgage, High Balance Mortgages, Fannie Mae mortgages, Freddie Mac Mortgages, No appraisal refinances, 0 point mortgages, 0 closing cost mortgages, paying a point mortgages, Refinance mortgages, purchase mortgages, and Jumbo Mortgages.
INTEREST RATES CONTINUE UPWARD TREND
INTEREST RATES GOING UP QUICKLY!!
INTEREST RATES GOING UP QUICKLY!!
May 15th, 2013
Interest rates are moving up quickly all around the world. Rates have moved higher every day since the release of the April employment report. The mortgage backed security market closed last week trading down -94 bps and this week is trading down -59 bps.
I hinted at this in my last weekly update – I think that May will be a bad month for interest rates. Investors will not buy mortgage backed securities aggressively after getting burned on the April employment report.
The overall sentiment in the bond market is to sell. This likely won’t change without a Fed statement reaffirming continued mortgage backed security purchases, a worse than expected May employment report, or some other major event.
It’s important to keep things in perspective. Rates are still unbelievably low – they are just a bit higher than the past few weeks. This massive move in the markets has only moved interest rates .125% to .25% higher.
The world is not coming to end, but I would definitely recommend locking in your rate as soon as possible.
Make it a great week!!
BEST VALUE OF THE WEEK:
15 Year Fixed at 2.875% paying 0 points
TODAY’S RATES:
30 year fixed: 3.5% paying 1 point, 3.75% paying 0 points, 3.875% – $0 costs
20 year fixed: 3.375% paying 1 point, 3.625% paying 0 points, 3.75% – $0 costs
15 year fixed: 2.625% paying .78 points, 2.875% paying 0 points, 3% – $0 costs
5/1 ARM: 2.25% paying .65 points, 2.5% paying 0 points, 2.75% – $0 costs
7/1 ARM: 2.5% paying .71 points, 2.75% paying 0 points, 3%- $0 costs
30 year fixed High Balance Loan: 3.75% paying .59 points; 3.875% paying 0 points, 4.25% – $0 costs
30 year fixed FHA: 3.25% – $0 costs
15 year fixed FHA: 2.75% paying 0 points, 3% – $0 costs
30 year fixed VA: 3.25% paying 0 points, 3.25% – $0 costs
Today’s Mortgage Interest Rates. Current Mortgage Interest Rates and APRs for refinancing and purchasing in Arizona, California, and Colorado. Arizona Home Loans, California Home Loans, Colorado Home Loans. Mortgage Rate Sheets for fixed mortgages, ARM mortgages, Variable Mortgages, Interest Only Mortgages, HARP mortgages, HARP 2.0 mortgages, DU Refi Plus Mortgages, Freddie Mac Open Access Mortgages, Fannie Mae Home Path Mortgage, Freddie Mac Foreclosure Relief Mortgage, VA mortgages, VA Interest Rate Reduction Loans, FHA mortgages, FHA streamline mortgages, Conforming mortgages, Conventional Mortgages, 100% Financing Mortgage, High Balance Mortgages, Fannie Mae mortgages, Freddie Mac Mortgages, No appraisal refinances, 0 point mortgages, 0 closing cost mortgages, paying a point mortgages, Refinance mortgages, purchase mortgages, and Jumbo Mortgages.
MORTGAGE RATES MOVE HIGHER WITH APRIL EMPLOYMENT REPORT
MORTGAGE RATES MOVE HIGHER WITH APRIL EMPLOYMENT REPORT
May 6th, 2013
Interest rates have steadily moved lower for the majority of April. Most economic reports were down and most investors didn’t expect an improved April employment report. When the report was released, the market’s response was immediate.
The stock markets soared and the mortgage backed security market ended the day trading down (– 61 bps).
The unemployment rate dropped to 7.5% and there were also revisions to the March report showing 50k more jobs than previously reported. Whenever there is increased economic optimism, there will be talk of the FED exiting their mortgage backed security purchasing plan. Whenever this happens, prepare for interest rates to jump quickly and much higher than the recent jumps.
My outlook in May is that you won’t see rates drop and mortgage backed securities being bought as aggressively as April. There will be caution that there could be another higher than expected employment report for May.
Rates are still great – my recommendation is to lock as I think rates will likely rise in May.
Make it a great week!!
BEST VALUE OF THE WEEK:
30 Year Fixed at 3.625% paying 0 costs
TODAY’S RATES:
30 year fixed: 3.375% paying .74 points, 3.5% paying 0 points, 3.625% – $0 costs
20 year fixed: 3.125% paying 1 point, 3.5% paying 0 points, 3.625% – $0 costs
15 year fixed: 2.5% paying .6 points, 2.75% paying 0 points, 2.875% – $0 costs
5/1 ARM: 2.125% paying .97 points, 2.375% paying 0 points, 2.625% – $0 costs
7/1 ARM: 2.375% paying .75 points, 2.625% paying 0 points, 2.75%- $0 costs
30 year fixed High Balance Loan: 3.625% paying .52 points; 3.75% paying 0 points, 3.875% – $0 costs
30 year fixed FHA: 3% paying .99 points; 3.25% – $0 costs
15 year fixed FHA: 2.5% paying .91 points, 2.75% paying 0 points, 2.875% – $0 costs
30 year fixed VA: 3.25% – $0 costs
Today’s Mortgage Interest Rates. Current Mortgage Interest Rates and APRs for refinancing and purchasing in Arizona, California, and Colorado. Arizona Home Loans, California Home Loans, Colorado Home Loans. Mortgage Rate Sheets for fixed mortgages, ARM mortgages, Variable Mortgages, Interest Only Mortgages, HARP mortgages, HARP 2.0 mortgages, DU Refi Plus Mortgages, Freddie Mac Open Access Mortgages, Fannie Mae Home Path Mortgage, Freddie Mac Foreclosure Relief Mortgage, VA mortgages, VA Interest Rate Reduction Loans, FHA mortgages, FHA streamline mortgages, Conforming mortgages, Conventional Mortgages, 100% Financing Mortgage, High Balance Mortgages, Fannie Mae mortgages, Freddie Mac Mortgages, No appraisal refinances, 0 point mortgages, 0 closing cost mortgages, paying a point mortgages, Refinance mortgages, purchase mortgages, and Jumbo Mortgages.
MORTGAGE RATES MOVE HIGHER WITH APRIL EMPLOYMENT REPORT
LOWEST RATES OF 2013 – 30 YEAR FIXED DOWN TO 3.25%
LOWEST RATES OF 2013 - 30 YEAR FIXED DOWN TO 3.25%
April 28th, 2013
Interest rates have fallen to the lowest levels of 2013 and are close to their lowest levels ever. The mortgage backed security market closed the week trading (+ 39 bps). The 10 year note broke a key technical indicator trading below 1.69%.
Interest rates are on a roll and now is a great time to lock in a great rate. You can currently get a 30 year fixed rate at 3.25% with less than a point and a 15 year fixed rate at 2.5% with less than a point.
When rates hit really low levels, they usually don’t stay there for long. This coming week will likely be volatile with the Federal Open Market Committee meeting and April’s employment numbers coming out on Friday.
I would recommend locking early this week if you are in the market for a home loan.
Make it a great week!!
BEST VALUE OF THE WEEK:
30 Year Fixed at 3.375% paying 0 points
15 Year Fixed at 2.625% paying 0 points
TODAY’S RATES:
30 year fixed: 3.25% paying .88 points, 3.375% paying 0 points, 3.5% – $0 costs
20 year fixed: 3.125% paying .23 points, 3.25% paying 0 points, 3.375% – $0 costs
15 year fixed: 2.375% paying .92 points, 2.625% paying 0 points, 2.875% – $0 costs
5/1 ARM: 2.125% paying .89 points, 2.375% paying 0 points, 2.625% – $0 costs
7/1 ARM: 2.25% paying .99 points, 2.625% paying 0 points, 2.75%- $0 costs
30 year fixed High Balance Loan: 3.5% paying .73 points; 3.75% – $0 costs
30 year fixed FHA: 3% paying .93 points; 3.25% – $0 costs
15 year fixed FHA: 2.375% paying .94 points, 2.75% – $0 costs
30 year fixed VA: 3.25% – $0 costs
Today’s Mortgage Interest Rates. Current Mortgage Interest Rates and APRs for refinancing and purchasing in Arizona, California, and Colorado. Arizona Home Loans, California Home Loans, Colorado Home Loans. Mortgage Rate Sheets for fixed mortgages, ARM mortgages, Variable Mortgages, Interest Only Mortgages, HARP mortgages, HARP 2.0 mortgages, DU Refi Plus Mortgages, Freddie Mac Open Access Mortgages, Fannie Mae Home Path Mortgage, Freddie Mac Foreclosure Relief Mortgage, VA mortgages, VA Interest Rate Reduction Loans, FHA mortgages, FHA streamline mortgages, Conforming mortgages, Conventional Mortgages, 100% Financing Mortgage, High Balance Mortgages, Fannie Mae mortgages, Freddie Mac Mortgages, No appraisal refinances, 0 point mortgages, 0 closing cost mortgages, paying a point mortgages, Refinance mortgages, purchase mortgages, and Jumbo Mortgages.
Lowest Rates of 2013 – 30 year fixed down to 3.25%
TODAY’S INTEREST RATES – 30 YEAR FIXED AT 3.5%
TODAY’S INTEREST RATES – 30 YEAR FIXED AT 3.5%
April 22nd, 2013
It’s been an uneventful week for interest rates. The Mortgage Backed Security market closed the week trading up (+ 3 bps). It’s suprising that we didn’t see more positive interest rate momentum with the stock market having one of it’s worst weeks in the past year.
The DOW Jones closed last week trading down -317 and polls show Americans are becoming pessimistic about the economy again. Last week would typically result in improving rates, but US Treasuries and the MBS market couldn’t surpass technical indicators to cause rates to drop.
It’s possible we may have hit the rate floor. Interest rates are unbelievably low, but still not at the all time low levels hit last year.
Make it a great week!!
BEST VALUE OF THE WEEK:
30 Year Fixed at 3.625% paying 0 points
TODAY’S RATES:
30 year fixed: 3.5% paying .20 points, 3.625% paying 0 points, 3.75% – $0 costs
20 year fixed: 3.375% paying .52 points, 3.5% paying 0 points, 3.625% – $0 costs
15 year fixed: 2.5% paying .99 points, 2.75% paying 0 points, 3% – $0 costs
5/1 ARM: 2% paying .99 points, 2.375% paying 0 points, 2.625% – $0 costs
7/1 ARM: 2.25% paying .99 points, 2.625% paying 0 points, 2.75%- $0 costs
30 year fixed High Balance Loan: 3.625% paying .82 points; 3.75% paying 0 points; 4% – $0 costs
30 year fixed FHA: 3.25% – $0 costs
15 year fixed FHA: 2.75% paying 0 points, 3% – $0 costs
30 year fixed VA: 3.25% – $0 costs
Today’s Mortgage Interest Rates. Current Mortgage Interest Rates and APRs for refinancing and purchasing in Arizona, California, and Colorado. Arizona Home Loans, California Home Loans, Colorado Home Loans. Mortgage Rate Sheets for fixed mortgages, ARM mortgages, Variable Mortgages, Interest Only Mortgages, HARP mortgages, HARP 2.0 mortgages, DU Refi Plus Mortgages, Freddie Mac Open Access Mortgages, Fannie Mae Home Path Mortgage, Freddie Mac Foreclosure Relief Mortgage, VA mortgages, VA Interest Rate Reduction Loans, FHA mortgages, FHA streamline mortgages, Conforming mortgages, Conventional Mortgages, 100% Financing Mortgage, High Balance Mortgages, Fannie Mae mortgages, Freddie Mac Mortgages, No appraisal refinances, 0 point mortgages, 0 closing cost mortgages, paying a point mortgages, Refinance mortgages, purchase mortgages, and Jumbo Mortgages.
TODAY’S INTEREST RATES – 30 YEAR FIXED AT 3.5%, April 22nd, 2013
INTEREST RATES HOLD STEADY
INTEREST RATES HOLD STEADY
April 15th, 2013
Happy Tax Day!!
Interest rates closed last week very similar to where they started the week. The Mortgage Backed Security market closed the week trading down (- 22 bps), but closed Monday trading up (+ 16 bps).
We are finally seeing some signs of weakness in the stock market, which could be a good sign for interest rates. On Monday, the DOW Jones closed more than 100 points down. China’s 1st quarter GDP was lower than expected. The gold market crashed.
The increased uneasiness in the stock markets should see more investors flock to the safety of US Treasuries and mortgage backed securities. The stock market has been due for a pull back, and it appears it may be upon us.
Overall, interest rates are very good right now, but may even drop a bit lower. Expect a lot of volatility this week with many economic reports set to be released.
Make it a great week!!
BEST VALUE OF THE WEEK:
30 Year Fixed at 3.625% paying 0 points
TODAY’S RATES:
30 year fixed: 3.5% paying .20 points, 3.625% paying 0 points, 3.75% – $0 costs
20 year fixed: 3.375% paying .52 points, 3.5% paying 0 points, 3.625% – $0 costs
15 year fixed: 2.625% paying .62 points, 2.875% paying 0 points, 3% – $0 costs
5/1 ARM: 2% paying .99 points, 2.375% paying 0 points, 2.625% – $0 costs
7/1 ARM: 2.25% paying .99 points, 2.625% paying 0 points, 2.75%- $0 costs
30 year fixed High Balance Loan: 3.625% paying .63 points; 3.75% paying 0 points; 3.875% – $0 costs
30 year fixed FHA: 3.25% – $0 costs
15 year fixed FHA: 2.75% paying 0 points, 3% – $0 costs
30 year fixed VA: 3.25% – $0 costs
Today’s Mortgage Interest Rates. Current Mortgage Interest Rates and APRs for refinancing and purchasing in Arizona, California, and Colorado. Arizona Home Loans, California Home Loans, Colorado Home Loans. Mortgage Rate Sheets for fixed mortgages, ARM mortgages, Variable Mortgages, Interest Only Mortgages, HARP mortgages, HARP 2.0 mortgages, DU Refi Plus Mortgages, Freddie Mac Open Access Mortgages, Fannie Mae Home Path Mortgage, Freddie Mac Foreclosure Relief Mortgage, VA mortgages, VA Interest Rate Reduction Loans, FHA mortgages, FHA streamline mortgages, Conforming mortgages, Conventional Mortgages, 100% Financing Mortgage, High Balance Mortgages, Fannie Mae mortgages, Freddie Mac Mortgages, No appraisal refinances, 0 point mortgages, 0 closing cost mortgages, paying a point mortgages, Refinance mortgages, purchase mortgages, and Jumbo Mortgages.
RATES HIT LOWEST LEVELS SINCE JANUARY
RATES HIT LOWEST LEVELS SINCE JANUARY
April 8th, 2013
Interest rates had their best week in months. Interest rates dropped approximately .125% on the week with the Mortgage Backed Security market closing up (+ 122 bps). This is the fourth consecutive week that interest rates have improved, with last week being the most dramatic drop.
The economic optimism is coming back to earth which is helping interest rates come back down. The Dow Jones closed last week close to where it began. American citizens in some industries are now starting to feel the effects of the sequester. North Korea’s bold rhetoric is starting to worry some investors.
The week was capped by a lower than expected March job report. Although the unemployment rate dropped from 7.7% to 7.6%, job growth was much lower than forecasted. Non farm jobs only grew 88k from an expected 200k. The drop in unemployment is mainly due to people leaving the work force.
This week is another great opportunity to lock in as rates are at their lowest levels since January.
Make it a great week!!
BEST VALUE OF THE WEEK:
30 Year Fixed at 3.625% paying 0 points
TODAY’S RATES:
30 year fixed: 3.5% paying .21 points, 3.625% paying 0 points, 3.75% – $0 costs
20 year fixed: 3.25% paying .87 points, 3.5% paying 0 points, 3.625% – $0 costs
15 year fixed: 2.625% paying .83 points, 2.875% paying 0 points, 3% – $0 costs
5/1 ARM: 2% paying .99 points, 2.375% paying 0 points, 2.625% – $0 costs
7/1 ARM: 2.25% paying .89 points, 2.5% paying 0 points, 2.75%- $0 costs
30 year fixed High Balance Loan: 3.625% paying .44 points; 3.75% paying 0 points; 3.875% – $0 costs
30 year fixed FHA: 3.25% – $0 costs
15 year fixed FHA: 2.75% paying 0 points, 2.875% – $0 costs
30 year fixed VA: 3.25% – $0 costs
Today’s Mortgage Interest Rates. Current Mortgage Interest Rates and APRs for refinancing and purchasing in Arizona, California, and Colorado. Arizona Home Loans, California Home Loans, Colorado Home Loans. Mortgage Rate Sheets for fixed mortgages, ARM mortgages, Variable Mortgages, Interest Only Mortgages, HARP mortgages, HARP 2.0 mortgages, DU Refi Plus Mortgages, Freddie Mac Open Access Mortgages, Fannie Mae Home Path Mortgage, Freddie Mac Foreclosure Relief Mortgage, VA mortgages, VA Interest Rate Reduction Loans, FHA mortgages, FHA streamline mortgages, Conforming mortgages, Conventional Mortgages, 100% Financing Mortgage, High Balance Mortgages, Fannie Mae mortgages, Freddie Mac Mortgages, No appraisal refinances, 0 point mortgages, 0 closing cost mortgages, paying a point mortgages, Refinance mortgages, purchase mortgages, and Jumbo Mortgages.
RATES HIT LOWEST LEVELS SINCE JANUARY
