MORTGAGE RATES IMPROVE WITH HALLOWEEN BOND RALLY

HAPPY HALLOWEEN  :  MORTGAGE RATES IMPROVE:

October 31st, 2011

Mortgage rates closed last week the same as they opened – no movement up or down. Halloween marked a far different story. On Halloween, the bond markets traded + 84 bps – pushing mortgage rates and pricing significantly lower.

The long term outlook still indicates a bearish market where rates look likely to rise. Most experts recommend locking in pricing on any days with improvement.

Below are rates available today paying a point or less:

30 year fixed: 4% paying 1 point, 4.25% paying 0 points

20 year fixed: 3.75% paying 1 point, 4% paying 0 points

15 year fixed: 3.375% paying .85 points, 3.75% paying 0 points

5/1 ARM: 2.5% paying .87 points; 2.875% paying 0 points

7/1 ARM: 2.875% paying .91 points, 3.125% paying 0 points

30 year fixed High Balance Loan: 4.375% paying .69 points, 4.625% paying 0 points

30 year fixed FHA: 3.75% paying .65 points, 3.99% paying 0 points

15 year fixed FHA: 3.375% paying 1 point, 3.75% paying 0 points

30 year fixed VA: 3.75% paying 0 points

Mortgage Rates Improve With Halloween Bond Rally

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