Mortgage News and Rates

Mortgage News and Rates



October 8th, 2012

Last week the mortgage backed security market told 2 stories. 

The MBS market closed (+ 50 bps) from Monday to Tuesday.  This continued the trend of rates dropping since the FED announced QE3.  But every positive interest rate streak will eventually end and pull back the other way.

From Wednesday to Friday, the MBS market closed down (– 84 bps), finishing the week (– 34 bps). 

The week was capped off with the September unemployment rate dropping from 8.1% to 7.8% with 114,000 new jobs created.  There was a lot of controversy regarding the validity of the report – but either way the MBS market had a mini sell off and closed the week down. 

Mortgage rates are still very low, but a bit higher than their previous lows.  The bond market is closed Monday due to Columbus Day. 

I don’t expect a ton of rate movement next week, but I do think rates may improve a bit, taking back some of the losses of last week.

Keep in mind most news websites/channels report when rates drop but not so much when they rise.  Rates are always fluctuating until a loan is locked.

My best value of the week:

30 Year Fixed at 3.5% paying 0 points

Below are rates available today paying a point or less:

30 year fixed:  3.375% paying .69 points, 3.5% paying 0 points

20 year fixed:  3.25% paying .79 points, 3.5% paying 0 points

15 year fixed:  2.75% paying .81 points, 3% paying 0 points

5/1 ARM:  2.25% paying .98 points, 2.75% paying 0 points

7/1 ARM  :2.5% paying .77 points, 2.75% paying 0 points

30 year fixed High Balance Loan:  3.5% paying .49 points; 3.625% paying 0 points

30 year fixed FHA:  3.25% paying 0 points

15 year fixed FHA:  2.75% paying 0 points

30 year fixed VA:  3.25% paying 0 points

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 Inch Higher – 30 Year Fixed to 3.375%


October 8, 2012 at 11:11 pm

Posted in 0 cost mortgage, 0 points, 15 year fixed, 20 year fixed, 2012, 30 year fixed, 5/1 ARM, Adjustable Rate Mortgage, apr, arizona, arizona home loan, arizona mortgage banker, Arizona purchase mortgage, Arizona Real Estate, Arizona Refinance, Bernanke, Bond Market, california, california home loan, california mortgage banker, california purchase mortgage, california real estate, California Refinance, Closing costs, colorado, colorado home loan, colorado mortgage banker, colorado purchase mortgage, colorado real estate, Colorado Refinance, Conforming Loans, Current interest rates, Current Mortgage Rates, DU Refi Plus, Fannie Mae, FHA, Freddie Mac, HARP, HARP 2.0, High Balance Loan, Home Loan, Interest Only Loan, interest rates, Interest Rates for October 2012, Interest Rates in 2012, loan officer, Lowest Rates Ever, mbs, mortgage, mortgage apr's, mortgage backed securities, mortgage banker, Mortgage Rate sheet, Mortgage Rates, mortgage rates rise, No appraisal refinance, points, purchase, QE 3, Rates, refinance, The Federal Reserve Board, Today's Mortgage Rates, US economy, VA

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2 Responses

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  1. My current mortgage rate is 4.5 0/0 on which I owe approximately $240,000 on a 30 year mortgage. I was wondering if it was possible to refinance, but using your VA rate of 3.25 0/0?

    Fernando Oquendo

    October 12, 2012 at 1:28 pm

    • You can do this if you are a veteran. Most of time conforming loans are better though because va has a 2.15 funding fee unless you receive va disability.


      October 12, 2012 at 1:45 pm

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