MORTGAGE PRICING SLOWLY RISING
March 10th, 2012
The MBS Market closed last week trading down (- 22 bps). As has been the case recently, mortgage rate pricing seems to be slowly inching up from it’s record lows in January.
The big news last week was the labor report and the continuing European debt crisis.
The Labor Department said that US companies added 227,000 jobs this month. The unemployment rate stayed at 8.3%, as more people began looking for work. Greece was able to delay their debt default, but the situation across Europe seems years away from being resolved.
Overall the economy seems to be improving but there are things holding it back. The S&P 500 has more than doubled over the past 3 years. Even so, we still have very high unemployment rates, high gas prices, and uncertainty in Europe.
My rate outlook is the same as last week. I think rates will continue to remain relatively stable but will not go back to their lows reached in January 2012.
Below are rates available today paying a point or less:
30 year fixed: 3.875% paying .89 points, 4.125% paying 0 points
20 year fixed: 3.75% paying .62 points, 3.99% paying 0 points
15 year fixed: 3.125% paying .64 points, 3.375% paying 0 points
5/1 ARM: 2.625% paying .7 points, 3.125% paying 0 points
7/1 ARM: 2.875% paying .98 points, 3.25% paying 0 points
30 year fixed High Balance Loan: 4% paying .5 points, 4.125% paying 0 points
30 year fixed FHA: 3.75% paying 0 points
15 year fixed FHA: 2.875% paying .6 points, 3.125% 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, Refinance mortgages, purchase mortgages, and Jumbo Mortgages.
MORTGAGE PRICING SLOWLY RISING – MARCH 10th, 2012