The bond market finished last week 16 bps down, pushing mortgage rates/pricing slightly higher.

Right now a well qualified borrower can get:

30 year fixed for 4.49% paying .6 pts, 4.625% paying 0 pts, 4.75% paying 0 costs

15 year fixed for 3.75% paying 0 pts, 3.99% paying 0 costs

7/1 ARM for 3.25% paying .9 pts, 3.5% paying 0 points, 3.75% paying 0 costs

30 year fixed FHA for 4.25% paying . 4 pts, 4.375% paying 0 pts, 4.5% paying 0 costs outside of FHA upfront MI

15 year fixed FHA for 3.5% paying . 6 pts, 3.75% paying 0 pts, 3.875% paying 0 costs outside of FHA upfront MI

30 year fixed VA for 4.25% paying .33 pts, 4.375% paying 0 pts, 4.49% paying 0 costs outside of VA funding fee

The markets are continuing to be fueled by the possibility of defaults in Europe and Congress working on increasing the debt ceiling. Even if the US deal gets done, America’s debt rating could lower from AAA.

The market is volatile right now so you could see large swings in mortgage pricing even during the same day. I still believe that rates will not go lower than the 4.375% – 4.5% 30 year fixed rates that we have seen for the past couple months.

Today’s Mortgage Rates.

Homes loans for Arizona, California, and Colorado.


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