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%

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