MORTGAGE RATES LOWER SLIGHTLY / 30 YEAR FIXED AT 3.875%
February 27th, 2012
The MBS Market closed last week trading up (+12 bps). Rates pulled down slightly after moving up the past couple weeks.
The DOW Jones moved over 13,000 and the stock market has sustained a rally that has the stock market at their highest levels since 2008.
There is thought that the stock market could be overbought, but with the public’s outlook towards the economy improving, the bullish market could continue with new investors trying to get in on the gains. Here is a good article explaining the current state of the stock market:
http://www.msnbc.msn.com/id/46519385/ns/business-stocks_and_economy/#.T0sF6_WNOuI
As always, the mortgage rate market is closely tied to the stock market and if the market keeps improving, interest rates will likely rise.
There a number of key economic releases this week along with a speaking engagement for Ben Bernanke. This should be an interesting week with clues as to where we are heading.
Below are rates available today paying a point or less:
30 year fixed: 3.875% paying .77 points, 4% paying 0 points
20 year fixed: 3.625% paying .78 points, 3.875% paying 0 points
15 year fixed: 3% paying .81 points, 3.375% paying 0 points
5/1 ARM: 2.625% paying .85 points, 3% paying 0 points
7/1 ARM: 2.875% paying .71 points, 3.125% paying 0 points
30 year fixed High Balance Loan: 4% paying .95 points, 4.25% paying 0 points
30 year fixed FHA: 3.75% paying 0 points
15 year fixed FHA: 2.875% paying .67 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, Fannie Mae Home Path Mortgage, Freddie Mac Foreclosure Relief Mortgage, VA mortgages, VA Interest Rate Reduction Loans, FHA mortgages, FHA streamline mortgages, Conforming mortgages, Conventional Mortgages, 100% Financing Mortgage, High Balance Mortgages, Fannie Mae mortgages, Freddie Mac Mortgages, No appraisal refinances, 0 point mortgages, 0 closing cost mortgages, paying a point mortgages, and Jumbo Mortgages.
Mortgage Rates Lower Slightly , 30 year fixed at 3.875%
