June 26th, 2012

The MBS Market closed last week trading down (- 22 bps).

Mortgage rates increased last week, but rebounded Monday with the bond market closing up +31 bps, taking back the losses from the previous week and then some.

The Federal Open Market Committee on Wednesday issued a statement that they would continue “Operation Twist”, but would not issue a new round of buying mortgage backed securities. This shot the Mortgage Backed security market down, as many expected the FED to take more action.

The markets are still closely tied with Europe. Thursday begins another European Summit that is unlikely to yield any significant results. As long as Europe continues to drag down the world economy, mortgage rates will likely stay low.

NOTE: The rates quoted below are a picture in time. Rates and pricing change every single business day. Also the rate and pricing an individual will qualify for can be different based upon credit scores, loan to value, etc.

My best value of the week:

15 Year Fixed at 2.99% Paying 0 points

Below are rates available today paying a point or less:

30 year fixed: 3.5% paying .62 points, 3.625% paying 0 points

20 year fixed: 3.25% paying .99 points, 3.5% paying 0 points

15 year fixed: 2.875% paying .51 points, 2.99% paying 0 points

5/1 ARM: 2.375% paying .78 points, 2.625% paying 0 points

7/1 ARM: 2.5% paying .81 point, 2.875% paying 0 points

30 year fixed High Balance Loan: 3.75% paying .65 points, 3.875% paying 0 points

30 year fixed FHA: 3.25% paying .65 points; 3.5% paying 0 points

15 year fixed FHA: 2.75% paying .32 points, 2.875% paying 0 points

30 year fixed VA: 3.25% paying .53 points, 3.5% 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.