Month: April 2012

INTEREST RATES IMPROVE AGAIN / 30 YEAR FIXED AT 3.625%

INTEREST RATES IMPROVE AGAIN / 30 YEAR FIXED AT 3.625%

April 30th, 2012

The MBS Market closed last week trading up (+16 bps).

Mortgage rates continue to improve as more and more investors are concerned regarding the slumping economy and the still unresolved Europe debt crisis.

30 year fixed rates are now down to 3.625% and the 30 year fixed High balance loans are down to 3.875%. This is a great time to lock. These are the lowest interest rates I have seen in a couple of months.

The Fed Meeting last week didn’t cause as much drama as some anticipated. Ben Bernanke’s statement said that the FED is still committed to keeping interest rates low through the end of 2014, and will not be doing another round of mortgage backed security purchases at this time. They kept this open ended, saying the FED will act if it was needed to help the economy.

Below are rates available today paying a point or less:

30 year fixed: 3.625% paying .99 pts, 3.99% paying 0 points

20 year fixed: 3.5% paying .63 points, 3.75% paying 0 points

15 year fixed: 2.875% paying .91 points, 3.125% paying 0 points

5/1 ARM: 2.25% paying .97 points, 2.625% paying 0 points

7/1 ARM: 2.625% paying .77 points, 2.875% paying 0 points

30 year fixed High Balance Loan: 3.875% paying .69 points, 4% paying 0 points

30 year fixed FHA: 3.75% paying 0 points

15 year fixed FHA: 2.875% paying .7 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.

INTEREST RATES IMPROVE AGAIN / 30 YEAR FIXED AT 3.625%

MORTGAGES RATES LOWER – BIG FED MEETING WEDNESDAY

MTG RATES LOWER – BIG FED MEETING ON WEDNESDAY

April 23rd, 2012

The MBS Market closed last week trading up (+13 bps.)    

Overall it is has been a very good market for interest rates over the past couple weeks.  Rates lowered a few weeks ago, and we haven’t seen much movement since then.

Stocks have been down lately, and the continuing debt problem in Europe is dragging down the European economy – causing more investors to seek the safety of US Treasuries.

The big news this week is on Wednesday with The Federal Open Market Committee meeting and statement.  Many still think the FED may announce another round of mortgage backed security purchases to keep rates low as the economy is showing signs of not fully recovering. 

There is almost always a large swing in interest rates up or down after the FOMC statement.  If you don’t like risk – you may want to lock before Wednesday. 

I offer a float down policy – which means if we lock your rate and your rate drops .25% during the loan process, I can “float down your rate” to the lower rate with the same costs.  This gives the security of a guaranteed price and the ability to get a lower rate if rates drop a lot after locking. 

Below are rates available today paying a point or less:

30 year fixed: 3.75% paying .91 points, 3.99% paying 0 points

20 year fixed: 3.5% paying .76 points, 3.75% paying 0 points

15 year fixed: 2.875% paying .97 points, 3.125% paying 0 points

5/1 ARM: 2.25% paying .97 points, 2.75% paying 0 points

7/1 ARM: 2.625% paying .74 points, 2.875% paying 0 points

30 year fixed High Balance Loan: 4% paying .16 points, 4.125% paying 0 points

30 year fixed FHA: 3.75% paying 0 points

15 year fixed FHA: 2.875% paying .67 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.

MORTGAGES RATES LOWER – BIG FED MEETING WEDNESDAY

30 Year Fixed Rates Back to 3.875%

30 YEAR FIXED BACK TO 3.875% 

April 16th, 2012

The MBS Market closed last week trading (-6 bps.)    

30 Year Fixed Rates dropped to 3.75% on Tuesday and were there for a day or two, but pulled up around Thursday.  3.75% rates are still available, but will just typically cost more than 1 point to get.

There are some housing reports and other financial data coming out next week that should give a clearer picture of the housing market as a whole.  Europe is back in the news and anything negative coming from their debt crisis could push rates lower.

I expect rates to remain relatively stable this week.  Big changes could come next week.  There is a Federal Open Market Committee meeting, which typically causes a large surge in rates one way or the other.

Below are rates available today paying a point or less:

30 year fixed: 3.875% paying .3 points, 3.99% paying 0 points

20 year fixed: 3.625% paying .65 point, 3.875% paying 0 points

15 year fixed: 2.99% paying .8 point, 3.25% paying 0 points

5/1 ARM: 2.5% paying .68 points, 2.75% paying 0 points

7/1 ARM: 2.75% paying .63 points, 3% paying 0 points

30 year fixed High Balance Loan: 4% paying .266 points, 4.125% paying 0 points

30 year fixed FHA: 3.75% paying 0 points

15 year fixed FHA: 3% paying .8 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, Refinance mortgages, purchase mortgages, and Jumbo Mortgages.

30 Year Fixed Rates Back to 3.875%

MORTGAGE RATES IMPROVE , GREAT TIME TO LOCK!!

MORTGAGE RATES IMPROVE AGAIN – GREAT TIME TO LOCK!!

April 9th, 2012

The MBS Market closed last week trading (+78 bps.)    

Wow, last week was a roller coaster.  Early in the week, rates went up a ton.  The market dropped with news that the FED would unlikely do a new round of buying mortgage backed securities, which helps keep demand for mortgage backed securities high, and mortgage rates low.

On Friday, the jobs report came out and did not meet most economists’ expectations.  This pushed rates way down on Friday, with a 75 bps swing.

Overall pricing on mortgages changed over a point on a particular rate within 3 days. 

The week ended with better mortgage rates but the market is very volatile right now.  All mortgage pricing is really good right now.  I would recommend locking as who knows how long these prices will last.

Below are rates available today paying a point or less:

30 year fixed: 3.875% paying .58 points, 4% paying 0 points

20 year fixed: 3.5% paying 1 point, 3.875% paying 0 points

15 year fixed: 3% paying .58 point, 3.25% paying 0 points

5/1 ARM: 2.5% paying .8 points, 2.875% paying 0 points

7/1 ARM: 2.75% paying .78 points, 3% paying 0 points

30 year fixed High Balance Loan: 4% paying .43 points, 4.125% paying 0 points

30 year fixed FHA: 3.75% paying 0 points

15 year fixed FHA: 3% paying .8 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, Refinance mortgages, purchase mortgages, and Jumbo Mortgages.

Mortgage Rates Improve – Great time to lock!!

MORTGAGE RATES IMPROVE – 30 YEAR FIXED BACK TO 3.875%

MORTGAGE RATES IMPROVE – 30 YEAR FIXED BACK TO 3.875%

April 2nd, 2012

The MBS Market closed last week trading (+ 31 bps.)

Mortgage rates saw some nice improvement this week. This was the improvement I expected last week, but better late than never.

I still maintain rates have seen their lows and will not reach them again unless there is a major economic blow. I see rates staying relatively stable for the foreseeable future.

Below are rates available today paying a point or less:

30 year fixed: 3.875% paying .99 points, 4% paying 0 points
20 year fixed: 3.75% paying 1 point, 3.99% paying 0 points
15 year fixed: 3.125% paying 1 point, 3.375% paying 0 points
5/1 ARM: 2.625% paying .8 points, 3.375% paying 0 points
7/1 ARM: 3% paying .86 points, 3.375% paying 0 points
30 year fixed High Balance Loan: 4.125% 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 – MORTGAGE RATES IMPROVE / 30 YEAR FIXED BACK TO 3.875%