MORTGAGE RASE RISING QUICKLY!!

MORTGAGE RATES RISING QUICKLY!!

March 19th, 2012

The MBS Market closed last week trading down (- 84 bps).  

Mortgage rates dramatically rose on Wednesday and Thursday with huge losses in the MBS market on both days.

Investors are taking money out of fixed income and putting it into the stock market.  The stock market bullish outlook looks to continue.  Europe’s debt crisis seems to be lessening.  Consumer confidence is rising, and in a recent poll, 90% of economists believe the Federal Reserve will reverse on their statement to keep the Federal Funds rate at 0% through 2014. 

The lowest of low rates are gone and likely won’t come back.  The MBS market has hit technical levels that make it very difficult for that to happen.  This week, rates will likely pull back down a little bit.

THIS WEEK IS THE WEEK TO LOCK IN if you want to take advantage of the still very low rates. 

Below are rates available today paying a point or less:

30 year fixed: 4% paying .8 points, 4.25% paying 0 points

20 year fixed: 3.875% paying .5 points, 3.99% paying 0 points

15 year fixed: 3.25% paying .8 points, 3.5% paying 0 points

5/1 ARM: 2.75% paying .7 points, 3.375% paying 0 points

7/1 ARM: 3.125% paying .8 points, 3.5% paying 0 points

30 year fixed High Balance Loan: 4.25% paying .8 points, 4.5% 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, 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.

Today’s Mortgage Rates – March 19th, 2012.

Mortgage Rates Rising Quickly.

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