MORTGAGE RATES RISE, THEN COME BACK DOWN:
October 3rd, 2011
The beginning of last week started off bad for interest rates. After hitting their lowest levels ever on the previous Thursday, mortgage pricing took big hits on Friday, Monday and Tuesday. The stock market was up and the secondary bond market was down pushing mortgage rates higher.
Luckily, the higher interest rate levels did not last long. The bond market closed slightly higher on Wednesday and Thursday, and then really rallied on Friday. Overall on the week – the bond market closed Friday unchanged – (0 bps).
Below are current rates available paying a point or less.
30 year fixed: 3.75% paying .86 points, 3.875% paying 0 points
20 year fixed: 3.75% paying 0 points
15 year fixed: 3.25% paying .66 points, 3.375% paying 0 points
5/1 ARM: 2.5% paying .6 points, 2.75% paying 0 points
7/1 ARM: 2.75% paying .86 points, 3.125% paying 0 points
30 year fixed FHA: 3.75% paying 0 points
15 year fixed FHA: 3.25% paying 0 points
30 year fixed VA: 3.75% paying 0 points
30 year fixed High Balance Loan: 4.125% paying .88 points, 4.375% paying 0 points
Today’s Mortgage Interest Rates. Current Mortgage Rates and APRs for refinancing and purchasing in Arizona, California, and Colorado. Mortgage Rates Sheets for fixed mortgages, ARM mortgages, Variable Mortgages, Interest Only Mortgages, HARP mortgages, VA mortgages, FHA mortgages, Conforming mortgages, Conventional Mortgages, High Balance Mortgages and Jumbo Mortgages
October 3rd, 2011 – 30 Year Fixed Rates Down to 3.75%