MORTGAGE RATES HIT NEW ALL TIME LOW – 30 YEAR FIXED AT 3.625%
Last week saw a huge MBS rally, pushing mortgage rates to new all time lows. The MBS Market closed last week trading down (+ 103 bps).
This rally started on Wednesday when the FOMC announced that the Federal Fund Rates (The rate at which the Federal Reserve loans to other banks) would remain at “exceptionally low levels” through late 2014. After this, the MBS market had a huge rally and rates are now even lower than before, even with the Fannie Mae pricing increases now in effect.
Today is a great day to lock in pricing on a new mortgage!!
Below are rates available today paying a point or less:
30 year fixed: 3.625% paying 1 point, 3.875% paying 0 points
20 year fixed: 3.5% paying .74 points, 3.75% paying 0 points
15 year fixed: 2.875% paying .94 points, 3.25% paying 0 points
5/1 ARM: 2.25% paying .99 points, 2.75% paying 0 points
7/1 ARM: 2.75% paying .62 points, 3% paying 0 points
30 year fixed High Balance Loan: 4% paying .472 points, 4.125% 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
Today’s Mortgage Interest Rates. Current Mortgage Interest Rates and APRs for refinancing and purchasing in Arizona, California, and Colorado. 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, 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.
Mortgage Rates hit new all time lows – 30 year fixed at 3.625%