Mortgage News and Rates

INTEREST RATES SHOW BIGGEST IMPROVEMENT IN OVER A MONTH

February 25th, 2013

Interest rates have remained consistent to slightly moving upward for many weeks. On Monday morning the mortgage backed security market was trading down (-21 bps), pushing rates higher again.

Finally a break through took place triggering a dramatic turnaround. The Italian parliament elections revealed no clear winner. The stock market plummeted and investors sought security in bonds and mortgage backed securities.

The MBS market ended up closing up (+ 56 bps), the largest single day improvement since early January.

Interest rates hit their lowest levels in over a month.

Stay tuned as increased volatility in the market is likely with over 85 billion in spending cuts scheduled to take place on Friday if a deal is not made.
Have a great week!!

BEST VALUE OF THE WEEK:

5/1 ARM at 2.375% paying 0 points

TODAY’S RATES:

30 year fixed:     3.5% paying .75 points,     3.625% paying 0 points,     3.875% – $0 costs

20 year fixed:     3.375% paying .57 points,      3.5% paying 0 points,     3.625% – $0 costs

15 year fixed:     2.75% paying .93 points,      3% paying 0 points,      3.25% – $0 costs

5/1 ARM:      2.125% paying .99 points,      2.375% paying 0 points,      2.75% – $0 costs

7/1 ARM:      2.5% paying .60 points,      2.625% paying 0 points,      2.875%- $0 costs

30 year fixed High Balance Loan:      3.625% paying .99 points;      3.875% paying 0 points;      4.125% – $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.

INTEREST RATES SHOW BIGGEST IMPROVEMENT IN OVER A MONTH