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Mortgage News and Rates

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INTEREST RATES MOVE HIGHER

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INTEREST RATES MAKE MOVE HIGHER

February 18th, 2014

I hope everyone had a nice Valentine’s day and the day off for President’s day.

After steadily improving for most of 2014, mortgage interest rates finally moved higher last week. The Mortgage Backed Security (MBS) market finished the week trading down -54 basis points, pushing 30 year fixed conforming rates to 4.375% costing .83 points at the end of the day on February 14th, 2014. 15 Year Fixed conforming rates did not move as much, but finished Friday at 3.375% costing .7 points.

Janet Yellen’s (the new FED Cheif) testimony last week made it very clear the FEDs outlook on the economy and Quantitative Easing moving forward. Yellen was enthusiastic about increased growth in the US economy in 2014, and mentioned that the slower growth in 2014 thus far could be a factor of the bad weather that has hurt the economy on the East coast – where a large share of the economy lives and works.

She also stated that the FED would continue to taper the stimulus QE3 and that they should be out of the market completely by the end of 2014. This is big news and likely means the FED will taper at every meeting this year until there is no more to taper. With the FED getting out of the mortgage business – the long term interest rate outlook remains one of increasing interest rates. Remember, the FED getting into the MBS market pushed rates to their historically low levels 3 years ago. With the FED getting out of the MBS market, interest rates should continue to go up.

Have a great week!!

BEST VALUE OF THE WEEK:

15 Year Fixed at 3.5% with 0 points
7/1 ARM at 3.375% with 0 points

TODAY’S INTEREST RATES:

30 year fixed:      4.375% – .83 points,      4.5% – 0 points,       4.625% – $0 costs

20 year fixed:     4.125% – .88 points,       4.375% – 0 points,       4.5% – $0 costs

15 year fixed:       3.375% – .7 points,      3.5% – 0 points,      3.75% – $0 costs

10 year fixed:       3.125% – .67 points,       3.375% – 0 points,        3.5% – $0 costs

5/1 ARM:       2.875% – .72 points,       3.125% – 0 points,       3.375% – $0 costs

7/1 ARM:       3.125% – .95 points,      3.375% – 0 points,        3.625% – $0 costs

30 year fixed FHA:       3.75% – 1 point,       4% – 0 points,       4.25% – $0 costs

15 year fixed FHA:       3.25% – .1 points,        3.375% – 0 points,        3.5% – $0 costs

30 year fixed VA:       3.875% – .24 points,        4% – 0 points,        4.125% – $0 costs

Today's Interest Rates - February 18th, 2014

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.  Scottsdale Mortgage Banker.  McCormick Ranch Mortgage Loan Officer.  February 18th, 2014 Mortgage Interest Rates, February 19th 2014 Mortgage Interest Rates, February 20th 2014 Mortgage Interest Rates, February 21st 2014 Mortgage Interest Rates, February 22nd 2014 Mortgage Interest Rates, February 23rd 2014 Mortgage Interest Rates, February 24th 2014 Mortgage Interest Rates

INTEREST RATES MOVE HIGHER

 

INTEREST RATE PRICING STAYS IN NARROW RANGE

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INTEREST RATE PRICING STAYS IN NARROW RANGE

February 10th, 2014

Interest rate pricing was all over the place last week.  On Monday, interest rates hit their lowest levels in about 3 months.  Interest rates went higher the rest of the week until the January employment report was released on Friday.  For the third month straight, job creation was lower than forecasts.  This would normally cause a big movement for better interest rates but the improvement wasn’t as much as expected.

Overall on the week, the Mortgage Backed Security market traded lower – 6 bps.  When the dust settled, interest rate pricing remained in a narrow range and mortgage interest rates are basically where they were at the beginning of last Monday.

In 2014, interest rates have fallen at some of the fastest levels in the past 2 years.  The main reason is usually interest rate pricing fluctuates more going up and down, but interest rates have improved for 5 week straight weeks before last week. 

There is some concern that the lower trend has come to an end with the market not moving as much as expected with a poor employment report.  It’s tough to call right now, but I see interest rates remaining fairly stable for the time being.  There is still a limit to how much interest rates can really improve with the FED tapering.  The interest rates in the low 3%’s won’t be back, but you could see interest rates going a little bit lower than today’s levels.   

This week Janet Yellen will make her first testimony to Congress.  Not much new information is expected to be deemed from this testimony, but it will be her first time before Congress as the new FED Cheif.

Have a great week!!

BEST VALUE OF THE WEEK:

15 Year Fixed at 3.5% with 0 points

7/1 ARM at 3.375% with 0 points

TODAY’S RATES:

30 year fixed:     4.25% – .8 points,     4.5% – 0 points,     4.625% – $0 costs

20 year fixed:   4% – 1 point,     4.25% – 0 points,     4.375%  – $0 costs

15 year fixed:   3.375% – .38 points,     3.5% – 0 points,     3.625% – $0 costs

10 year fixed:   3% – .66 points,     3.25% – 0 points,     3.5% – $0 costs

5/1 ARM:   2.75% – 1 point,     3.125% – 0 points,     3.5% – $0 costs

7/1 ARM:    3.125% – .88 points,     3.375% – 0 points,     3.625% – $0 costs

30 year fixed FHA:     3.75% – .6 points,     3.875% – 0 points,     4.125% – $0 costs

15 year fixed FHA:    3.25% – 0 points     3.5% – $0 costs

30 year fixed VA:     3.75% – .42 points,    3.875% – 0 points,      4.125% – $0 costs

Today's Interest Rates - February 10th, 2014

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.  Arizona refinance, California refinance, Colorado refinance.  Scottsdale, Arizona Mortgage Banker in McCormick Ranch.  McCormick Ranch Loan Officer.  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 refinance mortgages, Conforming mortgages, Conventional Mortgages, 100%  Financing Mortgage, High Balance Mortgages, Fannie Mae mortgages, Freddie Mac Mortgages, No appraisal refinance, 0 point mortgages, 0 closing cost mortgages, paying a point mortgages, Refinance mortgages, purchase mortgages, and Jumbo Mortgages.  February 10th 2014 30 year fixed rates, February 11th 2014 30 year fixed rates, February 12th 2014 30 year fixed rates, February 13th 2014 30 year fixed rates, February 14th 2014 30 year fixed rates, February 15th 2014 30 year fixed rates, February 16th 2014 30 year fixed rates, February 17th 2014 30 year fixed rates.

INTEREST RATE PRICING STAYS IN NARROW RANGE

Written by MORTGAGE NEWS

February 11, 2014 at 4:45 am

Posted in 0 cost mortgage, 0 point interest rates, 0 point mortgage, 10/1 ARM, 10/1 ARM rates, 15 year fixed, 15 Year Fixed FHA interest rates, 15 Year Fixed FHA Rates, 15 Year Fixed interest rates, 15 year fixed rates, 20 year fixed, 20 year fixed interest rates, 20 year fixed rates, 2014 Interest Rates, 30 year fixed, 30 Year Fixed FHA interest rates, 30 Year Fixed FHA rates, 30 year fixed interest rates, 30 Year Fixed VA Interest rates, 30 Year Fixed VA Rates, 5/1 ARM, 5/1 ARM interest rates, 5/1 ARM rates, 7/1 ARM, 7/1 ARM interest rates, 7/1 ARM rates, apr, arizona, Arizona direct lender, arizona home loan, Arizona home loan interest rates, Arizona mortgage, arizona mortgage banker, Arizona Real Estate, Arizona Refinance, Bond Market, california, California direct lender, california home loan, California home loan interest rates, california mortgage banker, california real estate, California Refinance, colorado, colorado home loan, Colorado home loan interest rates, colorado real estate, Colorado Refinance, Conforming interest rates, Conforming Loans, Conforming rates, Conventional Interest Rates, Current interest rates, Current mortgage interest rates, Current Mortgage Rates, Fannie Mae, February 2014 Mortgage interest rates, FED, Federal Reserve Board, FHA, FHA 15 Year Fixed, FHA 30 Year Fixed, FHA Interest Rates, FHA no appraisal refinance, FHA rates, FHA streamline refinance, Fixed interest rates, Fixed Rates, Freddie Mac, HARP 3.0, HARP 3.0 interest rates, HARP Interest Rates, High balance interest rates, High Balance Loan, Interest Only Loan, interest rates, Janet Yellen, jumbo interest rates, jumbo mortgage loan, Jumbo rates, mbs, McCormick Ranch Mortgage Banker, McCormick Ranch Mortgage Loan Officer, mortgage, Mortgage APR, mortgage apr's, mortgage backed securities, Mortgage Rate sheet, Mortgage Rates, No appraisal refinance, points, Rates, Real Estate, refinance, refinance rates, scottsdale, Scottsdale Mortgage Banker, scottsdale real estate, scottsdale real estate agent, The Federal Reserve Board, Today's Interest Rates, Today's mortgage aprs, Today's Mortgage Interest Rates, Today's Mortgage Rates, today's rates, VA, VA Interest Rates, VA rates

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INTEREST RATES CREATE NEW LOWS FOR 2014!!

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INTEREST RATES CREATE NEW LOWS FOR  2014

January 27th, 2014

Interest rates continued their hot streak ahead of the FED statement on Wednesday.  Mortgage interest rates pushed to new lows in 2014 with the stock markets having a big sell off and investors transferring money into safer investments.

This improvement in rates could be temporary depending on if the stock markets bounce back.  I would strongly recommend locking as these are the lowest rates I have seen in close to 2 months.

The Federal Open Market Committee (FOMC) will release a statement on Wednesday that will likely have a major impact on rate pricing.  Experts are still torn on whether the FED will keep current bond purchasing levels or reduce them another 10 million.     

If the FED reduces its bond purchasing again, expect to see rates bounce back higher.  

Have a great week!!

BEST VALUE OF THE WEEK:

20 Year Fixed at 4.125% with 0 points

10 Year Fixed at 3.25% with 0 points

TODAY’S RATES:

30 year fixed:     4.25% – 1 point,     4.5% – 0 points,     4.625% – $0 costs

20 year fixed:   4% – .92 points,     4.125% – 0 points,     4.375%  – $0 costs

15 year fixed:   3.375% – .73 points,     3.5% – 0 points,     3.75% – $0 costs

10 year fixed:   3% – .95 points,     3.25% – 0 points,     3.5% – $0 costs

5/1 ARM:   2.875% – .86 points,     3.125% – 0 points,     3.375% – $0 costs

7/1 ARM:    3.25% – .78 points,     3.5% – 0 points,     3.75% – $0 costs

30 year fixed FHA:     3.75% – .46 points,     3.875% – 0 points,     4.125% – $0 costs

15 year fixed FHA:    3.25% – 0 points     3.625% – $0 costs

30 year fixed VA:     3.75% – .43 points,    3.875% – 0 points,    4.25% – $0 costs

Today's Interest Rates - January 27th, 2014

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.  Arizona refinance, California refinance, Colorado refinance.  Scottsdale, Arizona Mortgage Banker in McCormick Ranch.  McCormick Ranch Loan Officer.  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 refinance mortgages, Conforming mortgages, Conventional Mortgages, 100%  Financing Mortgage, High Balance Mortgages, Fannie Mae mortgages, Freddie Mac Mortgages, No appraisal refinance, 0 point mortgages, 0 closing cost mortgages, paying a point mortgages, Refinance mortgages, purchase mortgages, and Jumbo Mortgages.  January 26 2014 mortgage rates, January 27 2014 mortgage rates, January 28 2014 mortgage rates, January 29 2014 mortgage rates, January 30 2014 mortgage rates, January 31st 2014 mortgage rates, February 1st 2014 mortgage rates, February 2nd 2014 mortgage rates.

Interest Rates create new lows for 2014

Written by MORTGAGE NEWS

January 27, 2014 at 2:40 am

Posted in 0 cost mortgage, 0 point interest rates, 0 point mortgage, 0 points, 10/1 ARM, 10/1 ARM rates, 15 year fixed, 15 Year Fixed FHA Rates, 15 year fixed rates, 20 year fixed, 20 year fixed rates, 2014 Interest Rates, 2014 Mortgage interest rates, 30 year fixed, 30 Year Fixed FHA rates, 30 year fixed rates, 30 Year Fixed VA Rates, 5/1 ARM, 5/1 ARM rates, 7/1 ARM, 7/1 ARM rates, Adjustable Rate Mortgage, apr, arizona, Arizona direct lender, arizona foreclosure, arizona home loan, Arizona home loan interest rates, Arizona home values, Arizona mortgage, arizona mortgage banker, Arizona purchase mortgage, Arizona Real Estate, Arizona real estate agents, arizona realtor, Arizona Refinance, arizona short sale, ARM rates, Bond Market, california, California direct lender, california home loan, California home loan interest rates, california mortgage, california mortgage banker, california purchase mortgage, california real estate, california real estate agent, california realtor, California Refinance, Closing costs, colorado, colorado home loan, Colorado home loan interest rates, colorado mortgage banker, colorado purchase mortgage, colorado real estate, colorado real estate agent, colorado realtor, Colorado Refinance, Conforming, Conforming interest rates, Conforming Loans, Conforming rates, Conventional Interest Rates, Current interest rates, Current mortgage interest rates, Current Mortgage Rates, direct lender, distressed sales in arizona, DU Refi Plus, Fannie Mae, February 2014 Mortgage interest rates, FED, FED taper bond purchasing, Federal Open Market Committee, Federal Reserve Board, FHA, FHA 15 Year Fixed, FHA 30 Year Fixed, FHA Interest Rates, FHA no appraisal refinance, FHA rates, FHA streamline refinance, Fixed interest rates, Fixed Rates, FOMC, FOMC meeting, foreclosure, Freddie Mac, HARP, HARP 3.0, HARP 3.0 interest rates, HARP eligibility increases, HARP Interest Rates, HARP rates, High balance interest rates, High Balance Loan, Home Loan, home purchase loan, home values, Interest Only Loan, interest rates, Interest Rates improve, Interest Rates of January 2014, January 2014 interest rates, January 2014 mortgage interest rates, January 2014 mortgage interst rates, loan officer, locking a loan, maricopa county, mbs, McCormick Ranch Mortgage Banker, McCormick Ranch Mortgage Loan Officer, mortgage, Mortgage APR, mortgage apr's, mortgage backed securities, mortgage banker, Mortgage Rate sheet, Mortgage Rates, mortgage rates improve, No appraisal refinance, phoenix, points, QE 3, Rates, Real Estate, Real Estate Agent, refinance, refinance rates, scottsdale, Scottsdale Mortgage Banker, scottsdale real estate, scottsdale real estate agent, Today's Interest Rates, Today's mortgage aprs, Today's Mortgage Interest Rates, Today's Mortgage Rates, today's rates, US economy, VA, VA Interest Rates, VA rates

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INTEREST RATES DROP TO 1 MONTH LOWS

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INTEREST RATES DROP TO 1 MONTH LOWS

January 13th, 2014

Interest rates finally gained some momentum after weeks of movement higher.

On Friday, the December employment report was released. Analysts predicted Non Farm Payroll Jobs to increase by 196,000 and the unemployment percentage to remain at 7%. The analysts vastly overestimated the increase, causing a huge movement in the bond markets and pushing rates lower by approximately .125%.

Non Farm Payroll jobs only increased by 74,000. Although the unemployment percentage dropped to 6.7%, much of that was due to people leaving the work force. Only 62.8% of the population is employed, which is the lowest level since 1976.

man-on-street1

This is welcome news for rate watchers after interest rates have steadily climbed for weeks straight. With the FED tapering, the long term outlook is still for interest rates to climb higher. Now is a good time to consider locking in while price is improved.

Have a great week!!

BEST VALUE OF THE WEEK:

30 Year Fixed at 4.5% with 0 points

15 Year Fixed at 3.625% with 0 points

TODAY’S RATES:

30 year fixed:     4.375% – .97 points,      4.5% – 0 points,      4.625% – $0 costs

20 year fixed:      4.125% – .39 points,      4.25% – 0 points,      4.375% – $0 costs

15 year fixed:     3.375% – .99 points,      3.625% – 0 points,      3.75% – $0 costs

10 year fixed:      3.125% – .58 point,      3.375% – 0 points,      3.5% – $0 costs

5/1 ARM:      2.875% – .94 points,      3.125% – 0 points,      3.5% – $0 costs

7/1 ARM:     3.25% – .99 points,      3.625% – 0 points,      3.875% – $0 costs

30 year fixed FHA:      3.75% – 1 point,      4% – 0 points,      4.25% – $0 costs

15 year fixed FHA:      3.25% – .49 points,      3.5% – 0 points       3.625% – $0 costs

30 year fixed VA:      3.75% – .84 points,      4% – 0 points,      4.25% – $0 costs

Today's Interest Rates - January 13th, 2014

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. Arizona refinance, California refinance, Colorado refinance. Scottsdale, Arizona Mortgage Banker in McCormick Ranch. McCormick Ranch Loan Officer. Scottsdale Loan Officer. Scottsdale mortgage, McCormick Ranch mortgage, 30 Year Fixed Mortgage rates, 20 year fixed Mortgage rates, 15 year fixed mortgage rates, 10 year fixed mortgage rates, 5/1 ARM mortgage rates, 7/1 ARM mortgage rates, 10/1 ARM mortgage rates, ARM mortgage rates, Variable Mortgage rates, Interest Only Mortgage rates, HARP mortgage rates, HARP 2.0 mortgage rates, HARP 3.0 mortgage rates, DU Refi Plus Mortgage rates, Freddie Mac Open Access Mortgage rates, Fannie Mae Home Path Mortgage rates, Freddie Mac Foreclosure Relief Mortgage rates, 30 Year Fixed VA rates, 15 year fixed VA rates,VA mortgages rates, VA Interest Rate Reduction Loan rates, VA IRRL rates, FHA mortgage rates, 30 Year Fixed FHA rates, 15 year fixed FHA rates, FHA streamline refinance mortgage rates, Conforming mortgage rates, Conventional Mortgage rates, 100% Financing Mortgage, High Balance Mortgage rates, Fannie Mae mortgage rates, Freddie Mac Mortgage rates, No appraisal refinance, 0 point mortgages, 0 closing cost mortgages, paying a point mortgages, $0 closing costs home loan, Refinance mortgages, purchase mortgages, and Jumbo Mortgages.  January 13th 30 year fixed rates, January 14th 30 year fixed rates, January 15th 30 year fixed rates, January 16th 30 year fixed rates, January 17th 30 year fixed rates, January 18th 30 year fixed rates, January 19th 30 year fixed rates, January 20th 30 year fixed rates

INTEREST RATES DROP TO 1 MONTH LOWS

Written by MORTGAGE NEWS

January 13, 2014 at 6:33 pm

Posted in 0 cost mortgage, 0 point interest rates, 0 point mortgage, 0 points, 10/1 ARM, 10/1 ARM rates, 15 year fixed, 15 Year Fixed FHA Rates, 15 year fixed rates, 20 year fixed, 20 year fixed rates, 2014 Interest Rates, 30 year fixed, 30 Year Fixed FHA rates, 30 year fixed rates, 30 Year Fixed VA Rates, 5/1 ARM, 5/1 ARM rates, 7/1 ARM, 7/1 ARM rates, Adjustable Rate Mortgage, apr, arizona, Arizona direct lender, arizona foreclosure, arizona home loan, Arizona home loan interest rates, Arizona home values, Arizona mortgage, arizona mortgage banker, Arizona purchase mortgage, Arizona Real Estate, Arizona real estate agents, arizona realtor, Arizona Refinance, arizona short sale, ARM rates, Bond Market, california, California direct lender, california home loan, California home loan interest rates, california mortgage, california mortgage banker, california purchase mortgage, california real estate, california real estate agent, california realtor, California Refinance, Closing costs, colorado, colorado home loan, Colorado home loan interest rates, colorado mortgage banker, colorado purchase mortgage, colorado real estate, colorado real estate agent, colorado realtor, Colorado Refinance, Conforming, Conforming interest rates, Conforming Loans, Conforming rates, Conventional Interest Rates, Current interest rates, Current mortgage interest rates, Current Mortgage Rates, December 2013 Employment Report, direct lender, DU Refi Plus, Fanie Mae DU Refi Plus 2, Fannie Mae, FED, Federal Reserve Board, FHA, FHA 15 Year Fixed, FHA 30 Year Fixed, FHA Interest Rates, FHA mortgage insurance, FHA no appraisal refinance, FHA rates, FHA streamline refinance, Fixed interest rates, Fixed Rates, Freddie Mac, Freddie Mac Relief 2, Freddie Mac Relief Open Access 2, HARP, HARP 2.0 interest rates, HARP 3.0, HARP 3.0 interest rates, HARP Interest Rates, HARP rates, High balance interest rates, High Balance Loan, Home Loan, home purchase loan, Interest Only Loan, interest rates, Interest Rates improve, January 2014 mortgage interest rates, jumbo interest rates, jumbo mortgage loan, Jumbo rates, loan officer, Loan Officer Compensation, locking a loan, mbs, McCormick Ranch Mortgage Banker, mortgage, Mortgage APR, mortgage apr's, mortgage backed securities, mortgage banker, Mortgage Rate sheet, Mortgage Rates, mortgage rates improve, No appraisal refinance, points, purchase, Rates, Real Estate, Real Estate Agent, refinance, refinance rates, scottsdale, Scottsdale Mortgage Banker, scottsdale real estate, scottsdale real estate agent, The Federal Reserve Board, Today's Interest Rates, Today's mortgage aprs, Today's Mortgage Interest Rates, Today's Mortgage Rates, underwater home, US economy, VA, VA Interest Rates, VA rates

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TODAY’S INTEREST RATES / NEW .5% DOWN PAYMENT PROGRAM

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TODAY’S INTEREST RATES / NEW .5% DOWN PAYMENT PROGRAM

January 6th, 2014

New Year

I hope everyone had a happy and safe New Years!!

Interest rates didn’t move much last week with the majority of traders on vacation. The MBS market closed + 18 bps, so mortgage pricing improved slightly.

On Friday, the December employment report will be released. More positive gains in employment will result in rates continuing their march higher.

My recommendation is still to lock as rates will likely continue to rise.

Have a great week!!

.5% DOWN PAYMENT PROGRAM – AVAILABLE NOW!!

This new program helps potential borrowers qualify for a new purchase home loan with as little as a .5% down payment.

The program works as follows:

96.5% LTV 1st FHA Mortgage
3% LTV 15 Year Fixed 2nd Mortgage

This is a great product for those borrowers that have decent credit and income, but don’t have the funds or gifts available for a 3.5% or 5% down payment.

Please call me for details or if I can help any of your clients with this new product.

no-money-down-mortgage-first-time-home-buyers1

BEST VALUE OF THE WEEK:

5/1 ARM at 3.25% with 0 points
10 Year Fixed at 3.5% with 0 points

TODAY’S RATES:

30 year fixed:      4.5% – 1 point,      4.625% – 0 points,      4.75% – $0 costs

20 year fixed:      4.25% – .6 points,      4.375% – 0 points,       4.625% – $0 costs

15 year fixed:      3.5% – .99 points,      3.75% – 0 points,      3.875% – $0 costs

10 year fixed:      3.25% – .83 point,      3.5% – 0 points,      3.625% – $0 costs

5/1 ARM:     3% – .7 points,      3.25% – 0 points,      3.625% – $0 costs

7/1 ARM:      3.375% – .96 points,      3.625% – 0 points,      3.75% – $0 costs

30 year fixed FHA:      4% – .92 points,      4.25% – $0 costs

15 year fixed FHA:      3.375% – .84 points,      3.625% – 0 points     3.75% – $0 costs

30 year fixed VA:      4.125% – .87s point,       4.25% – $0 costs

Today's Interest Rates - January 6th, 2014

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. Arizona refinance, California refinance, Colorado refinance. Scottsdale, Arizona Mortgage Banker in McCormick Ranch. McCormick Ranch Loan Officer. 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 refinance mortgages, Conforming mortgages, Conventional Mortgages, 100% Financing Mortgage, High Balance Mortgages, Fannie Mae mortgages, Freddie Mac Mortgages, No appraisal refinance, 0 point mortgages, 0 closing cost mortgages, paying a point mortgages, Refinance mortgages, purchase mortgages, and Jumbo Mortgages.  January 6th 2014 interest rates, January 7th 2014 interest rates, January 8th 2014 interest rates, January 9th 2014 interest rates, January 10th 2014 interest rates, January 11th 2014 interest rates, January 12th 2014 interest rates, January 13th interest rates.

TODAY’S INTEREST RATES      /       NEW .5% DOWN PAYMENT PROGRAM

Written by MORTGAGE NEWS

January 6, 2014 at 4:57 am

Posted in 0 cost mortgage, 0 point interest rates, 0 point mortgage, 0 points, 10/1 ARM, 10/1 ARM rates, 15 year fixed, 15 Year Fixed FHA Rates, 15 year fixed rates, 20 year fixed, 20 year fixed rates, 2014 Interest Rates, 30 year fixed, 30 Year Fixed FHA rates, 30 year fixed rates, 30 Year Fixed VA Rates, 5/1 ARM, 5/1 ARM rates, 7/1 ARM, 7/1 ARM rates, Adjustable Rate Mortgage, apr, arizona, Arizona direct lender, arizona foreclosure, arizona home loan, Arizona home loan interest rates, Arizona home values, Arizona mortgage, arizona mortgage banker, Arizona purchase mortgage, Arizona Real Estate, Arizona real estate agents, arizona realtor, Arizona Refinance, arizona short sale, ARM rates, Bond Market, california, California direct lender, california home loan, California home loan interest rates, california mortgage, california mortgage banker, california purchase mortgage, california real estate, california real estate agent, california realtor, California Refinance, Closing costs, colorado, colorado home loan, Colorado home loan interest rates, colorado mortgage banker, colorado purchase mortgage, colorado real estate, colorado real estate agent, colorado realtor, Colorado Refinance, Conforming, Conforming interest rates, Conforming Loans, Conforming rates, Conventional Interest Rates, Current interest rates, Current mortgage interest rates, Current Mortgage Rates, December 2013 Employment Report, DU Refi Plus, Fanie Mae DU Refi Plus 2, Fannie Mae, FED, FED taper bond purchasing, FED Tapers 2013, FHA, FHA 15 Year Fixed, FHA 30 Year Fixed, FHA Interest Rates, FHA no appraisal refinance, FHA rates, Fixed interest rates, Fixed Rates, Freddie Mac, Freddie Mac Relief Open Access 2, HARP, HARP 2.0, HARP 2.0 interest rates, HARP 2.0 rates, HARP 3.0, HARP 3.0 interest rates, HARP Interest Rates, HARP rates, High balance interest rates, High Balance Loan, Home Loan, home purchase loan, home values, Interest Only Loan, interest rates, January 2014 mortgage interest rates, Jumbo, jumbo interest rates, jumbo mortgage loan, Jumbo rates, loan officer, Loan Officer Compensation, locking a loan, mbs, McCormick Ranch Mortgage Banker, mortgage, Mortgage APR, mortgage apr's, mortgage backed securities, mortgage banker, Mortgage Rate sheet, Mortgage Rates, mortgage rates improve, No appraisal refinance, points, purchase, QE 3, Rates, Real Estate, Real Estate Agent, refinance, refinance rates, scottsdale, Scottsdale Mortgage Banker, scottsdale real estate, scottsdale real estate agent, Today's Interest Rates, Today's mortgage aprs, Today's Mortgage Interest Rates, Today's Mortgage Rates, today's rates, Unemployment rate, US economy, US treasuries, VA, VA Interest Rates, VA rates

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FED TAPERS – RATES WILL GO UP IN 2014 WITH GSE FEE INCREASE

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FED TAPERS – RATES WILL GO UP IN 2014 WITH GSE FEE INCREASE

December 26th, 2013

I hope everyone had a Happy and Safe Holiday!!

As many have heard by now – The FEDERAL RESERVE BOARD finally decided to taper their bond purchasing program – capping months of speculation on when the move would take place.   The FED will reduce it’s bond purchasing by 10 million per month. This relatively small taper as well as the market already taking into account that a taper would happen helped rates not go through the roof. Still mortgage interest rates are much higher than most have become accustomed to and will head higher in 2014.

GSE FEE INCREASE IN 2014:

Along with more tapering likely coming from the FEDERAL RESERVE BOARD in 2014, the GSEs FANNIE MAE and FREDDIE MAC announced fee changes to lenders last week.

These fee changes will raise the rate for most borrowers .125% – .375% once they hit lender rate sheets. After announcing the Fee change, FHFA director Mel Watt pulled back the implementation, announcing a delay in the fee change until he is able to further determine if this plan of action is the best way to move forward.

So at this point, the fee changes which raises the fees FANNIE MAE and FREDDIE MAC charge lenders to buy their loans is delayed after most expected these changes to hit lender rate sheets in January 2014.

If/when these changes going into effect – they will dramatically raise rate/borrower costs for most borrowers. Loan level pricing adjustments are certain characteristics of a customer’s loan that cause the loan to be more expensive. Some of the changes announced:

- Highest qualifying credit score will now be 800, currently any borrower with a 740+ credit score will get best mortgage pricing
– Cash out loans will increase in rate/costs
– Lower credit score borrowers will increase in rate/costs
– Investment property loans will increase in rate/costs

Below is a chart of the proposed loan level pricing adjustment for Fannie Mae and Freddie Mac in 2014.  Below is also a great article explaining the Fee changes:

http://www.mortgagenewsdaily.com/12172013_mortgage_rates_to_take_big_hit_from_fee_hikes.asp 

Fannie_Mae_LLPA

So at this point these changes are delayed, but I guarantee fee increases are coming – but maybe not as drastic as the ones announced.

All signs point to higher rates in 2014.

It has been a great few years with record low mortgage interest rates. If you haven’t taken advantage, I would recommend locking in before rates continue to move higher.

Have a great week!!

BEST VALUE OF THE WEEK:

10 Year Fixed at 3.5% with 0 points

5/1 ARM at 3.25% with 0 points

TODAY’S RATES:

30 year fixed:     4.625% – .30 points,      4.75% – 0 points,      4.875% – $0 costs

20 year fixed:      4.25% – 1 point,       4.5% – 0 points,       4.625% – $0 costs

15 year fixed:      3.625% – .49 points,      3.75% – 0 points,       4% – $0 costs

10 year fixed:      3.25% – .99 point,      3.5% – 0 points,       3.75% – $0 costs

5/1 ARM:       3% – .81 points,       3.25% – 0 points,        3.625% – $0 costs

7/1 ARM:       3.375% – 1 point,        3.75% – 0 points,        4% – $0 costs

30 year fixed FHA:      4.125% – .37 points,       4.25% – $0 costs

15 year fixed FHA:      3.375% – .95 points,      3.625% – 0 points,       3.75% – $0 costs

30 year fixed VA:       4.125% – .83 points,       4.25% – 0 points,       4.375% – $0 costs

Today's Interest Rates - December 26th, 2013

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. Arizona refinance, California refinance, Colorado refinance. Scottsdale, Arizona Mortgage Banker in McCormick Ranch. McCormick Ranch Loan Officer. 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 refinance mortgages, Conforming mortgages, Conventional Mortgages, 100% Financing Mortgage, High Balance Mortgages, Fannie Mae mortgages, Freddie Mac Mortgages, No appraisal refinance, 0 point mortgages, 0 closing cost mortgages, paying a point mortgages, Refinance mortgages, purchase mortgages, and Jumbo Mortgages.  December 26th mortgage interest rates, December 27th mortgage interest rates, December 28th mortgage interest rates, December 29th mortgage interest rates, December 30th mortgage interest rates.

FED TAPERS    -     RATES WILL GO UP IN 2014 WITH GSE FEE INCREASE

Written by MORTGAGE NEWS

December 26, 2013 at 7:58 pm

Posted in 0 cost mortgage, 0 point interest rates, 0 point mortgage, 0 points, 10/1 ARM, 10/1 ARM rates, 15 year fixed, 15 Year Fixed FHA Rates, 15 year fixed rates, 20 year fixed, 20 year fixed rates, 2013, 2013 Fed Meeting, 2013 Interest Rates, 2014 Interest Rates, 30 year fixed, 30 Year Fixed FHA rates, 30 year fixed rates, 30 Year Fixed VA Rates, 5/1 ARM, 5/1 ARM rates, 7/1 ARM, 7/1 ARM rates, Adjustable Rate Mortgage, apr, arizona, Arizona direct lender, arizona foreclosure, arizona home loan, Arizona home loan interest rates, Arizona home values, Arizona mortgage, arizona mortgage banker, Arizona purchase mortgage, Arizona Real Estate, Arizona real estate agents, arizona realtor, Arizona Refinance, ARM rates, Ben Bernanke, Bernanke, Bond Market, california, California direct lender, california home loan, California home loan interest rates, california mortgage, california mortgage banker, california purchase mortgage, california real estate, california real estate agent, california realtor, California Refinance, Closing costs, colorado, colorado home loan, Colorado home loan interest rates, colorado mortgage banker, colorado purchase mortgage, colorado real estate, colorado real estate agent, colorado realtor, Colorado Refinance, Conforming, Conforming interest rates, Conforming Loans, Conforming rates, Conventional Interest Rates, Current interest rates, Current mortgage interest rates, Current Mortgage Rates, December 2013 mortgage interest rates, direct lender, DU Refi Plus, Fanie Mae DU Refi Plus 2, Fannie Mae, Fannie Mae fee increase 2014, Fannie Mae guaranteed fees, Fannie Mae guideline changes, Fannie Mae increasing rates, Fannie pricing hits, FED, FED taper bond purchasing, FED Tapers 2013, Federal Open Market Committee, Federal Reserve Board, FHA, FHA 15 Year Fixed, FHA 30 Year Fixed, FHA Interest Rates, FHA no appraisal refinance, FHA rates, FHA streamline refinance, Fixed interest rates, Fixed Rates, FOMC, FOMC meeting, Freddie Mac, Freddie Mac fee increase 2014, Freddie Mac increasing rates, Freddie Mac Relief Open Access 2, GSE fee increase 2014, GSE guaranteed fees, HARP, HARP 2.0, HARP 2.0 interest rates, HARP 2.0 rates, HARP 3.0, HARP Interest Rates, HARP rates, High balance interest rates, High Balance Loan, Home Loan, home purchase loan, Interest Only Loan, interest rates, Interest Rates for December 2013, January 2014 mortgage interst rates, Jumbo, jumbo interest rates, jumbo mortgage loan, Jumbo rates, Loan level pricing adjusment change in 2014, loan officer, Loan Officer Compensation, locking a loan, mbs, McCormick Ranch Mortgage Banker, mortgage, Mortgage APR, mortgage apr's, mortgage backed securities, Mortgage Rate sheet, Mortgage Rates, mortgage rates rise, No appraisal refinance, points, QE 3, Rates, Real Estate, Real Estate Agent, refinance, refinance rates, Scottsdale Mortgage Banker, scottsdale real estate, scottsdale real estate agent, The Federal Funds Rate, The Federal Reserve Board, Today's Interest Rates, Today's mortgage aprs, Today's Mortgage Interest Rates, Today's Mortgage Rates, today's rates, US economy, US treasuries, VA, VA Interest Rates, VA rates

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ALL EYES ON FED STATEMENT WEDNESDAY – 50/50 CHANCE FOR TAPERING

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ALL EYES ON FED STATEMENT WEDNESDAY  -   50/50  CHANCE FOR TAPERING

December 16th, 2013

All eyes are on the FED and The FOMC meeting this week.  The FOMC starts their meeting on Tuesday and will release their statement at 2 pm Eastern on Wednesday.

There is more and more speculation that the FED could taper at this meeting – many experts now calling it a 50/50 proposition.  Some prognosticators are actually predicting the FED to taper like the opinion below:

“We now look for the Fed to do something meaningful at the December 18 meeting,” wrote Michael Moran at Daiwa Capital Markets America in a note. “We view the announcement of a reduction in asset purchases as the most likely outcome; absent this, we expect some type guidance on the FOMC’s plans for the effort.”

If the FED tapers, the markets will also be looking at how much they will pull back on their bond purchasing budget.  Any sort of taper will likely mean a large rise in rates.

Federal Reserve Board's Federal Open Market Committee members pose during two-day meeting in Washington.

With interest rates at around 4 month highs – I am still suggesting locking before the meeting.  If rates drop significantly after the announcement (unlikely) – rate float downs are available when rates drop .25% with the same costs.

Have a great week!!

BEST VALUE OF THE WEEK:

20 Year Fixed at 4.375% with 0 points

10 Year Fixed at 3.375% with 0 points

TODAY’S RATES:

30 year fixed:     4.5% – .58 points,     4.625% – 0 points,     4.75% – $0 costs

20 year fixed:   4.125% – .99 points,     4.375% – 0 points,     4.5%  – $0 costs

15 year fixed:   3.5% – .63 points,     3.625% – 0 points,     3.875% – $0 costs

10 year fixed:   3.125% – .63 point,     3.375% – 0 points,     3.625% – $0 costs

5/1 ARM:   2.75% – .99 points,     3.125% – 0 points,     3.375% – $0 costs

7/1 ARM:    3.25% – .83 points,     3.5% – 0 points,     3.75% – $0 costs

30 year fixed FHA:     4% – .56 points,     4.125% – 0 points,     4.25% – $0 costs

15 year fixed FHA:    3.25% – .81 points,     3.5% – $0 costs,     3.75% – $0 costs

30 year fixed VA:     4% – 1 point,    4.25% – $0 costs

Today's Interest Rates - December 16th, 2013

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.  Arizona refinance, California refinance, Colorado refinance.  Scottsdale, Arizona Mortgage Banker in McCormick Ranch.  McCormick Ranch Loan Officer.  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 refinance mortgages, Conforming mortgages, Conventional Mortgages, 100%  Financing Mortgage, High Balance Mortgages, Fannie Mae mortgages, Freddie Mac Mortgages, No appraisal refinance, 0 point mortgages, 0 closing cost mortgages, paying a point mortgages, Refinance mortgages, purchase mortgages, and Jumbo Mortgages.  December 16th mortgage interest rates

ALL EYES ON FED STATEMENT WEDNESDAY   -   50/50 CHANCE FOR TAPERING

Written by MORTGAGE NEWS

December 17, 2013 at 3:42 am

Posted in 0 cost mortgage, 0 point interest rates, 0 point mortgage, 0 points, 10/1 ARM, 10/1 ARM rates, 15 year fixed, 15 Year Fixed FHA Rates, 15 year fixed rates, 20 year fixed, 20 year fixed rates, 2013, 2013 Fed Meeting, 2013 Interest Rates, 30 year fixed, 30 Year Fixed FHA rates, 30 year fixed rates, 30 Year Fixed VA Rates, 5/1 ARM, 5/1 ARM rates, 7/1 ARM, 7/1 ARM rates, Adjustable Rate Mortgage, apr, arizona, Arizona direct lender, arizona foreclosure, arizona home loan, Arizona home loan interest rates, Arizona home values, Arizona mortgage, arizona mortgage banker, Arizona purchase mortgage, Arizona Real Estate, Arizona real estate agents, arizona realtor, Arizona Refinance, arizona short sale, Ben Bernanke, Bernanke, Bond Market, california, California direct lender, california home loan, California home loan interest rates, california mortgage, california mortgage banker, california purchase mortgage, california real estate, california real estate agent, california realtor, California Refinance, Closing costs, colorado, colorado home loan, Colorado home loan interest rates, colorado mortgage banker, colorado purchase mortgage, colorado real estate, colorado real estate agent, colorado realtor, Colorado Refinance, Conforming, Conforming interest rates, Conforming Loans, Conforming rates, Conventional Interest Rates, Current interest rates, Current mortgage interest rates, Current Mortgage Rates, December 2013 mortgage interest rates, Fannie Mae, FED, FED taper bond purchasing, Federal Open Market Committee, Federal Reserve Board, FHA, FHA 15 Year Fixed, FHA 30 Year Fixed, FHA Interest Rates, FHA mortgage insurance, FHA no appraisal refinance, FHA rates, FHA streamline refinance, Fixed interest rates, Fixed Rates, FOMC, FOMC meeting, Freddie Mac, HARP, HARP 2.0, HARP 2.0 interest rates, HARP 3.0, HARP 3.0 interest rates, Interest Rates for December 2013, Interest Rates Rise, Jumbo, jumbo interest rates, jumbo mortgage loan, Jumbo rates, lender, loan officer, Loan to Value, locking a loan, mbs, McCormick Ranch Mortgage Banker, mortgage, Mortgage APR, mortgage apr's, mortgage backed securities, mortgage banker, Mortgage Rate sheet, Mortgage Rates, mortgage rates rise, No appraisal refinance, points, purchase, QE 3, Rates, Real Estate, Real Estate Agent, refinance, refinance rates, scottsdale, Scottsdale Mortgage Banker, scottsdale real estate, scottsdale real estate agent, The Federal Reserve Board, Today's Interest Rates, Today's Mortgage Interest Rates, Today's Mortgage Rates, today's rates, US economy, US treasuries, VA, VA Interest Rates, VA rates

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RATES CONTINUE MOVING HIGHER / FED MEETING NEXT WEEK

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RATES CONTINUE MOVING HIGHER     /      FED MEETING NEXT WEEK

December 9th, 2013

The interest rate market had quite the week last week. Rates rose everyday from Monday through Thursday before the important November employment report. Then something weird happened.

Job creation beat their forecasts, The unemployment rate dropped .2% – this would usually cause rates to rise fast, but it didn’t. Rates actually improved a little bit on Friday and also on Monday. Still, the Mortgage Backed Security Market closed the week trading down – 69 bps, pushing rates to their highest levels in months.Now Hiring

With the majority of economic reports showing positive gains – more and more experts think the FED could taper their stimulus package in their meeting next week. I don’t expect rates to change much until then.

Rates are still taking on the outlook I have talked about for months – rates really have no where to go but higher. Any improvement we see is not substantial because the FED taper is looming.

Those still waiting for rates to dramatically drop will likely be waiting forever. I recommend locking on a refinance if it’s beneficial as even these higher rates likely won’t be around much longer.

BEST VALUE OF THE WEEK:

15 Year Fixed at 3.5% with 0 points
10 Year Fixed at 3.25% with 0 points

TODAY’S RATES:

30 year fixed:      4.375% – .78 points,      4.5% – 0 points,      4.625% – $0 costs

20 year fixed:     4.125% – .812 points,      4.25% – 0 points,       4.5% – $0 costs

15 year fixed:      3.375% – .8 points,      3.5% – 0 points,      3.75% – $0 costs

10 year fixed:      3% – .69 point,      3.25% – 0 points,      3.5% – $0 costs

5/1 ARM:      2.75% – .94 points,      3.125% – 0 points,      3.375% – $0 costs

7/1 ARM:      3.25% – .69 points,       3.5% – 0 points,       3.75% – $0 costs

30 year fixed FHA:       3.75% – .94 points,       4.125% – 0 points,      4.25% – $0 costs

15 year fixed FHA:      3.25% – 0 points,      3.5% – $0 costs

30 year fixed VA:      4% – .85 points,      4.25% – $0 costs

Today's Interest Rates - December 9th, 2013

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.  Arizona refinance, California refinance, Colorado refinance.  Scottsdale, Arizona Mortgage Banker in McCormick Ranch.  McCormick Ranch Loan Officer.  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 refinance mortgages, Conforming mortgages, Conventional Mortgages, 100%  Financing Mortgage, High Balance Mortgages, Fannie Mae mortgages, Freddie Mac Mortgages, No appraisal refinance, 0 point mortgages, 0 closing cost mortgages, paying a point mortgages, Refinance mortgages, purchase mortgages, and Jumbo Mortgages.  December 9th interest rates, December 10th interest rates, December 11th interest rates, December 12 interest rates, December 13th interest rates, December 14th interest rates, December 15th interest rates, December 16th interest rates

RATES CONTINUE MOVING HIGHER / FED MEETING NEXT WEEK

Written by MORTGAGE NEWS

December 10, 2013 at 5:33 am

Posted in 0 cost mortgage, 0 point interest rates, 0 point mortgage, 0 points, 10/1 ARM, 10/1 ARM rates, 15 year fixed, 15 Year Fixed FHA Rates, 15 year fixed rates, 20 year fixed, 20 year fixed rates, 2013, 2013 Interest Rates, 30 year fixed, 30 Year Fixed FHA rates, 30 year fixed rates, 30 Year Fixed VA Rates, 5/1 ARM, 5/1 ARM rates, 7/1 ARM, 7/1 ARM rates, Adjustable Rate Mortgage, apr, arizona, Arizona direct lender, arizona foreclosure, arizona home loan, Arizona home loan interest rates, Arizona home values, Arizona mortgage, arizona mortgage banker, Arizona purchase mortgage, Arizona Real Estate, Arizona real estate agents, arizona realtor, Arizona Refinance, arizona short sale, ARM rates, Bond Market, california, California direct lender, california home loan, California home loan interest rates, california mortgage, california mortgage banker, california purchase mortgage, california real estate, california real estate agent, california realtor, California Refinance, Closing costs, colorado, colorado home loan, Colorado home loan interest rates, colorado mortgage banker, colorado purchase mortgage, colorado real estate, colorado real estate agent, colorado realtor, Colorado Refinance, Conforming, Conforming interest rates, Conforming Loans, Conforming rates, Conventional Interest Rates, Current interest rates, Current mortgage interest rates, Current Mortgage Rates, direct lender, DU Refi Plus, Fanie Mae DU Refi Plus 2, Fannie Mae, FED, FED does not taper, FED taper bond purchasing, Federal Open Market Committee, Federal Reserve Board, FHA, FHA 15 Year Fixed, FHA 30 Year Fixed, FHA Interest Rates, FHA mortgage insurance, FHA no appraisal refinance, FHA rates, FHA streamline refinance, Fixed interest rates, Fixed Rates, FOMC, FOMC meeting, foreclosure, Freddie Mac, HARP, HARP 2.0, HARP 2.0 interest rates, HARP 2.0 rates, HARP rates, High balance interest rates, High Balance Loan, Holiday Interest Rate Special, Home Loan, home purchase loan, Interest Only Loan, interest rates, Interest Rates for December 2013, Interest Rates Rise, jumbo interest rates, jumbo mortgage loan, Jumbo rates, loan officer, Loan to Value, locking a loan, McCormick Ranch Mortgage Banker, mortgage, Mortgage APR, mortgage apr's, mortgage backed securities, mortgage banker, mortgage insurance, mortgage rates rise, No appraisal refinance, points, purchase, QE 3, Rates, Real Estate, Real Estate Agent, refinance, refinance rates, scottsdale, Scottsdale Mortgage Banker, scottsdale real estate, scottsdale real estate agent, The Federal Reserve Board, Today's Interest Rates, Today's mortgage aprs, Today's Mortgage Interest Rates, Today's Mortgage Rates, today's rates, Unemployment rate, upside down home, US economy, US treasuries, VA, VA Interest Rates, VA rates, veteran

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INTEREST RATES TRENDING UP / MONDAY IS LAST DAY FOR HOLIDAY RATE SPECIAL

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INTEREST RATES TRENDING UP  /  MONDAY IS LAST DAY FOR HOLIDAY RATE SPECIAL

December 2nd, 2013

I hope everyone had a great Thanksgiving!!  Interest rates rose for the second straight week with the Mortgage Backed Security market closing down – 39 bps.

The MBS market is currently down almost -70 bps over the past 2 weeks and interest rates are around 2 month highs.  Still they are fluctuating in the same range they have for most of the past 5 months with 30 year fixed rates in the 4.125% – 4.375% range.

Over the long term, rates have been very stable and they will likely stay in a tight range unless something happens with the FED and their bond purchasing stimulus.

The FED meets again this month, but most don’t expect the FED to taper their stimulus until 2014.

HOLIDAY INTEREST RATE SPECIAL

My Holiday interest rate special ends at 4 pm Pacific on Monday.  In order to get the discount, I must approve loan and order appraisal by that time. 

The discount is:

.5 points off all CONFORMING, FHA, and VA loans.

.25 points of all HIGH BALANCE CONFORMING LOANS

The pricing below includes the discount, but all pricing will move up after Monday.  Please contact me on Monday if you would like to lock in before this special ends.

Last Day of SaleBEST VALUE OF THE WEEK:

20 Year Fixed at 4.125% with 0 points

7/1 ARM at 3.25% with 0 points

TODAY’S RATES:

30 year fixed:     4.25% – .69 points,     4.5% – 0 points,     4.625% – $0 costs

20 year fixed:   4% – .812 points,     4.125% – 0 points,     4.375%  – $0 costs

15 year fixed:   3.375% – .34 points,     3.5% – 0 points,     3.625% – $0 costs

10 year fixed:   3% – .684 point,     3.25% – 0 points,     3.5% – $0 costs

5/1 ARM:   2.5% – .98 points,     2.875% – 0 points,     3.125% – $0 costs

7/1 ARM:    3% – .75 points,     3.25% – 0 points,     3.5% – $0 costs

30 year fixed FHA:     3.75% – .25 points,     3.875% – 0 points,     4.125% – $0 costs

15 year fixed FHA:    3.25% – 0 points,     3.5% – $0 costs

30 year fixed VA:     3.75% – .83 points,    4% – 0 points,    4.25% – $0 costs

 

Today's Interest Rates - December 2nd, 2013

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.  Arizona refinance, California refinance, Colorado refinance.  Scottsdale, Arizona Mortgage Banker in McCormick Ranch.  McCormick Ranch Loan Officer.  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 refinance mortgages, Conforming mortgages, Conventional Mortgages, 100%  Financing Mortgage, High Balance Mortgages, Fannie Mae mortgages, Freddie Mac Mortgages, No appraisal refinance, 0 point mortgages, 0 closing cost mortgages, paying a point mortgages, Refinance mortgages, purchase mortgages, and Jumbo Mortgages.

INTEREST RATES TRENDING UP  /  MONDAY IS LAST DAY FOR HOLIDAY RATE SPECIAL

Written by MORTGAGE NEWS

December 2, 2013 at 6:56 am

Posted in 0 cost mortgage, 0 point interest rates, 0 point mortgage, 0 points, 10/1 ARM rates, 15 Year Fixed FHA Rates, 15 year fixed rates, 20 year fixed, 20 year fixed rates, 2013 Interest Rates, 30 year fixed, 30 Year Fixed FHA rates, 30 year fixed rates, 30 Year Fixed VA Rates, 5/1 ARM, 5/1 ARM rates, 7/1 ARM, 7/1 ARM rates, Adjustable Rate Mortgage, apr, arizona, Arizona direct lender, arizona foreclosure, arizona home loan, Arizona home loan interest rates, Arizona home values, Arizona mortgage, arizona mortgage banker, Arizona purchase mortgage, Arizona Real Estate, Arizona real estate agents, arizona realtor, Arizona Refinance, ARM rates, Ben Bernanke, Bernanke, Bond Market, california, California direct lender, california home loan, California home loan interest rates, california mortgage, california mortgage banker, california purchase mortgage, california real estate, california real estate agent, california realtor, California Refinance, Closing costs, colorado, colorado home loan, Colorado home loan interest rates, colorado mortgage banker, colorado purchase mortgage, colorado real estate, colorado real estate agent, colorado realtor, Colorado Refinance, Conforming, Conforming interest rates, Conforming Loans, Conforming rates, Conventional Interest Rates, Current interest rates, Current mortgage interest rates, Current Mortgage Rates, December 2013 mortgage interest rates, DU Refi Plus, Fanie Mae DU Refi Plus 2, Fannie Mae, FED, FED does not taper, Federal Open Market Committee, Federal Reserve Board, FHA, FHA 15 Year Fixed, FHA 30 Year Fixed, FHA Interest Rates, FHA rates, FHA streamline refinance, Fixed interest rates, Fixed Rates, FOMC, FOMC meeting, Freddie Mac, Freddie Mac Relief 2, Freddie Mac Relief Open Access 2, GSE guaranteed fees, HARP, HARP 2.0, HARP 2.0 interest rates, HARP 2.0 rates, HARP Interest Rates, HARP rates, High balance interest rates, High Balance Loan, Holiday Interest Rate Special, Home Loan, home prices, home purchase loan, home values, Interest Only Loan, interest rates, Interest Rates for December 2013, jumbo interest rates, jumbo mortgage loan, Jumbo rates, lender, loan officer, Loan to Value, locking a loan, mbs, McCormick Ranch Mortgage Banker, mortgage, Mortgage APR, mortgage apr's, mortgage backed securities, mortgage banker, Mortgage Rate sheet, Mortgage Rates, mortgage rates rise, No appraisal refinance, purchase, QE 3, Rates, Real Estate, Real Estate Agent, refinance, refinance rates, Scottsdale Mortgage Banker, scottsdale real estate, scottsdale real estate agent, short sale, Today's Interest Rates, Today's mortgage aprs, Today's Mortgage Interest Rates, Today's Mortgage Rates, today's rates, US economy, US treasuries, VA, VA Interest Rates, VA rates

OCTOBER EMPLOYMENT REPORT CAUSES SHARP RISE IN INTEREST RATES

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OCTOBER EMPLOYMENT REPORT CAUSES SHARP RISE IN INTEREST RATES

November 11th, 2013

Happy Veteran’s Day!!  Thank you to all of our men and women who have served in the Military.

Mortgages rates ended the week sharply higher with the release of the October employment report on Friday.  Non Farm job creation crushed expectations causing a sell-off in the Mortgage Backed Security market of over 100 bps.

new job

Positive economic news from the employment report, US 3rd quarter GDP, and ISM manufacturing is causing more pricing pressure and thoughts that the FED could taper their stimulus package sooner. 

Unfortunately, the employment report usually shapes the monthly trend of interest rates.  I think rates will likely slowly rise during the month of November. 

I would recommend locking pricing if you are in the market for a mortgage.

FMAE CHANGES COMING THIS WEEKEND

Fannie Mae is implementing a new underwriting system this weekend.  The highlights of the guideline changes are:

-No more interest only loans.  I have to lock any new interest only loans by Wednesday, so if you want one – please call me asap.

-Maximum LTV going from 95% to 97%

-FMAE HARP loans no longer will require the waiting period required for Forclosures, Bankruptcies and Short sales

Make it a great week!!

BEST VALUE OF THE WEEK:

20 Year Fixed 4.25% with 0 points

7/1 ARM at 3.375% with 0 points

TODAY’S RATES:

30 year fixed:     4.25% – 1 point,     4.5% – 0 points,     4.625% – $0 costs

20 year fixed:   4.125% – .83 points,     4.25% – 0 points,     4.5%  – $0 costs

15 year fixed:   3.375% – .51 points,     3.5% – 0 points,     3.625% – $0 costs

10 year fixed:   3.125% – .83 points,     3.5% – 0 points,     3.625% – $0 costs

5/1 ARM:   2.625% – 1 point,     3% – 0 points,     3.25% – $0 costs

7/1 ARM:    3.125% – .75 points,     3.375% – 0 points,     3.625% – $0 costs

30 year fixed FHA:     3.75% – .61 points,     4% – 0 points,     4.125% – $0 costs

15 year fixed FHA:    3.25% – .10 points,     3.375% – 0 points,     3.5% – $0 costs

30 year fixed VA:     4% – .5 points,    4.25% – $0 costs

Today's Interest Rates - November 11th, 2013

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.  Arizona refinance, California refinance, Colorado refinance.  Scottsdale, Arizona Mortgage Banker in McCormick Ranch.  McCormick Ranch Loan Officer.  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 refinance mortgages, Conforming mortgages, Conventional Mortgages, 100%  Financing Mortgage, High Balance Mortgages, Fannie Mae mortgages, Freddie Mac Mortgages, No appraisal refinance, 0 point mortgages, 0 closing cost mortgages, paying a point mortgages, Refinance mortgages, purchase mortgages, and Jumbo Mortgages.

OCTOBER EMPLOYMENT REPORT CAUSES SHARP RISE IN INTEREST RATES

Written by MORTGAGE NEWS

November 11, 2013 at 11:39 pm

Posted in 0 cost mortgage, 0 point interest rates, 0 point mortgage, 0 points, 10/1 ARM, 10/1 ARM rates, 15 year fixed, 15 Year Fixed FHA Rates, 15 year fixed rates, 20 year fixed, 20 year fixed rates, 2013, 2013 Interest Rates, 30 Year Fixed FHA rates, 30 year fixed rates, 30 Year Fixed VA Rates, 5/1 ARM, 5/1 ARM rates, 7/1 ARM, 7/1 ARM rates, Adjustable Rate Mortgage, apr, arizona, Arizona direct lender, arizona foreclosure, arizona home loan, Arizona home loan interest rates, Arizona home values, Arizona mortgage, arizona mortgage banker, Arizona purchase mortgage, Arizona Real Estate, Arizona real estate agents, arizona realtor, Arizona Refinance, arizona short sale, ARM rates, Bond Market, california, California direct lender, california home loan, California home loan interest rates, california mortgage, california mortgage banker, california purchase mortgage, california real estate, california real estate agent, california realtor, California Refinance, Closing costs, colorado, colorado home loan, Colorado home loan interest rates, colorado mortgage banker, colorado purchase mortgage, colorado real estate, colorado real estate agent, colorado realtor, Colorado Refinance, Conforming, Conforming interest rates, Conforming Loans, Conforming rates, Conventional Interest Rates, Current interest rates, Current mortgage interest rates, Current Mortgage Rates, DU Refi Plus, Fanie Mae DU Refi Plus 2, Fannie Mae, Fannie Mae guideline changes, FED, FED taper bond purchasing, Federal Reserve Board, FHA, FHA 15 Year Fixed, FHA 30 Year Fixed, FHA Interest Rates, FHA rates, FHA streamline refinance, Fixed interest rates, Fixed Rates, Freddie Mac, HARP, HARP 2.0, HARP 2.0 interest rates, HARP 2.0 rates, HARP Changes, HARP Guidelines, HARP Interest Rates, High balance interest rates, High Balance Loan, Home Loan, home purchase loan, home values, Interest Only Loan, interest rates, Interest rates for November 2013, Interest Rates Rise, lender, loan officer, Loan to Value, locking a loan, McCormick Ranch Mortgage Banker, mortgage, Mortgage APR, mortgage backed securities, mortgage banker, Mortgage Rate sheet, Mortgage Rates, mortgage rates rise, No appraisal refinance, November 2013 mortgage interest rates, points, purchase, Rates, Real Estate, Real Estate Agent, refinance, refinance rates, Scottsdale Mortgage Banker, Today's Interest Rates, Today's mortgage aprs, Today's Mortgage Interest Rates, Today's Mortgage Rates, today's rates, US economy, US treasuries, VA, VA Interest Rates, VA rates

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