MORTGAGE RATES SLOWLY RISING FROM RECORD LOWS / COULD PUSH LOWER THIS WEEK.
February 20th, 2012
The MBS Market closed last week trading down (- 13 bps). Rates continue to slowly inch higher with increased optimism towards the economy and the recent rally in the stock markets.
The stock market is at a 9 month high but concerns still remain that the market is higher than it should be. Over 85% of stocks in the New York Stock Exchange are trading above their 50 day moving averages, even though profit reports have been less than stellar. In Europe news, a meeting on Monday to try and finally resolve the Greek debt issue was not successful. (2/21/12 UPDATE – they have now negotiated a deal)
I’m thinking we may see the stock market push down this week, which could push mortgage rates lower from their recent move up.
I recommend customers serious about getting a mortgage being ready to lock on short notice this week.
Below are rates available today paying a point or less:
30 year fixed: 3.875% paying .99 points, 4.125% paying 0 points
20 year fixed: 3.625% paying .95 points, 4% paying 0 points
15 year fixed: 3.125% paying .94 points, 3.375% paying 0 points
5/1 ARM: 2.75% paying .85 points, 3.125% paying 0 points
7/1 ARM: 3% paying .71 points, 3.25% paying 0 points
30 year fixed High Balance Loan: 4% paying 1 point, 4.375% paying 0 points
30 year fixed FHA: 3.75% paying 0 points
15 year fixed FHA: 3% paying .82 points, 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, No appraisal refinances, and Jumbo Mortgages.
MORTGAGE RATES SLOWLY RISING FROM RECORD LOWS / COULD PUSH LOWER THIS WEEK.
