December 14, 2011

It has been a great week for interest rates.  The bond market has rallied + 65 bps this week, pushing mortgage rates and pricing back to their lowest levels EVER!!

As I have discussed in previous updates, pricing can get better but rates should not go below the 3.75% to 3.875% range on a 30 year fixed loan.  Thus we are getting better pricing, but I don’t think rates will ever drop below 3.75% without significant costs.  The reason is because investors won’t buy them below this rate.  This is a good article from Mortgage News Daily on the current rate market:

I still recommend locking at this point.  Pricing usually only stays this low for a day or two before they move back up.

Below are rates available today paying a point or less:

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

20 year fixed: 3.75% paying .567 points, 3.875% paying 0 points

15 year fixed: 3.25% paying .262 points, 3.375% paying 0 points

5/1 ARM: 2.5% paying .947 points; 2.875% paying 0 points

7/1 ARM: 2.875% paying .619 points, 3.125% paying 0 points

30 year fixed High Balance Loan: 4% paying .889 points, 4.25% 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


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, DU Refi Plus Mortgages, Freddie Mac Open Access Mortgages, Freddie Mac Foreclosure Relief Mortgage, VA mortgages, VA Interest Rate Reduction Loans, FHA mortgages, FHA streamline mortgages, Conforming mortgages, Conventional Mortgages, High Balance Mortgages, Fannie Mae mortgages, Freddie Mac Mortgages,  and Jumbo Mortgages.

December 2011

Mortgage Pricing Back to lowest levels ever!!