MORTGAGE RATES RISE – BUT COULD DROP LOWER.
May 29th, 2012
The MBS Market closed last week trading down (-9 bps).
After hitting all time lows the week before, mortgage rates have pulled up a bit. This is pretty typical when mortgage pricing hits a low point. Pricing only stays there for a day or so. Lenders also don’t bring pricing down as much when the market improves, and lenders bring pricing up quicker when it worsens.
Even so, mortgage rates are still unbelievably low and I am optimistic they will stay low and may even go a bit lower.
Europe is still in a huge mess, and until that clears up, investors will continue to seek the sanctity of safe US Treasury bonds. This helps keeps rates low and could push them lower.
Below are rates available today paying a point or less:
30 year fixed: 3.625% paying .95 point, 3.875% paying 0 points
20 year fixed: 3.5% paying .61 points, 3.75% paying 0 points
15 year fixed: 2.875% paying .83 points, 3.125% paying 0 points
5/1 ARM: 2.25% paying .99 points, 2.75% paying 0 points
7/1 ARM: 2.5% paying .99 point, 2.875% paying 0 points
30 year fixed High Balance Loan: 3.875% paying .33 points, 4% paying 0 points
30 year fixed FHA: 3.75% paying 0 points
15 year fixed FHA: 2.75% paying .84 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.
Today’s Mortgage Rates