Month: July 2012

MORTGAGE RATES RISE DUE TO OPTIMISM IN THE STOCK MARKETS:

MORTGAGE RATES RISE DUE TO OPTIMISM IN THE STOCK MARKETS:

July 30th, 2012

The MBS market closed last week trading down (- 44 bps) and on Monday morning the mbsmarket is tradingup (+ 15 bps).    

For the first week in many, the mortgage interest rate market pulled higher mainly due to optimism in the stock markets.  The President of the ECB stated in a speech that they are willing to do whatever it takes to save the Euro.  This public declaration resulted in optimism among investors wary of the European debt crisis that has been dragging on the market for months.  European stocks rose to a 4 month high last week. 

This week will be a critical and volatile week in the interest rate markets.  The Federal Open Market Committee (FOMC) is meeting on Tuesday and Wednesday with a statement on Wednesday.  Most of the market now expects the FED to take on another round of mortgage backed security purchases.  The European Central Bank will meet on Thursday.  The July employment report will come out on Friday. 

Tough to say whether to lock or float right now.  We will likely see some big swings in the market depending on the news of that day. 

My best value of the week:

30 Year Fixed High Balance Loan at 3.75% with 0 points

Below are rates available today paying a point or less:

30 year fixed:  3.5% paying .329 points, 3.625% paying 0 points

20 year fixed:  3.25% paying .94 points, 3.5% paying 0 points

15 year fixed:  2.75% paying .94 points, 2.99% paying 0 points

5/1 ARM:  2.375% paying .72 points, 2.625% paying 0 points

7/1 ARM:  2.5% paying .66 points, 2.75% paying 0 points

30 year fixed High Balance Loan:  3.625% paying .74 point, 3.75% paying 0 points

30 year fixed FHA:  3.25% paying 0 points

15 year fixed FHA:  2.75% paying .29 points, 2.875% paying 0 points

30 year fixed VA:  3.25% 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 BREAK YET ANOTHER RECORD!!

MORTGAGE RATES BREAK YET ANOTHER RECORD

July 23rd, 2012

The MBS market closed last week trading up (+ 44 bps) and on Monday morning the mbs market is trading up (+ 19 bps).

Last week the mbs market started off higher, but for most of the week lenders were not pricing better. Monday morning, we are seeing some nice improvement likely due to mortgage backed security market breaking a technical barrier of 1.46%.

Rates have broken yet another record – right now a well qualified buyer can get a 3.375% 30 year fixed for less than .3 pts.

The European debt crisis is again one of the issues that continue to drive investors and mortgage rates. Greece is on the verge of a US 30’s type depression and will likely have to leave the European Union soon. Investors are flocking to safe investments is the Euro is crumbling.

I would recommend locking and taking advantage of these gains if you can.

My best value of the week:

30 Year Fixed at 3.375% paying .298 points
20 Year Fixed at 3.25% paying .11 points

Below are rates available today paying a point or less:

30 year fixed: 3.375% paying .29 points, 3.5% paying 0 points
20 year fixed: 3.25% paying .11 points, 3.375% paying 0 points
15 year fixed: 2.75% paying .59 points, 2.875% paying 0 points
5/1 ARM: 2.25% paying .76 points, 2.5% paying 0 points
7/1 ARM: 2.375% paying .87 points, 2.625% paying 0 points
30 year fixed High Balance Loan: 3.5% paying .49 point, 3.625% paying 0 points
30 year fixed FHA: 3.375% paying .29 points, 3.5% paying 0 points
15 year fixed FHA: 2.75% paying .59 points, 2.875% paying 0 points
30 year fixed VA: 3.25% 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 BREAK YET ANOTHER RECORD!!

MORTGAGE RATES REMAIN STABLE – 30 YEAR FIXED AT 3.75%

MORTGAGE RATES REMAIN STABLE – 30 YEAR FIXED AT 3.75%

July 17th, 2012

The MBS market closed last week trading down (-3 bps). Basically a ho-hum week with not a lot of data or change in rates.

This week FED chairman Ben Bernanke testifies before Congress on Tuesday and Wednesday.  On Tuesday, he said that the FED could still use measures to boost economy if it saw fit. While not saying they would use them, he says they are available if they feel the need.

This economic easing could include another round of buying mortgage backed securities and lowering of the interest rate the FED charges it’s reserve banks. He noted that using these measures is an option,but  there a certain risks and side effects that need to be considered carefully before using them.

The FED is still happy with inflation staying below 2%. It will focus on job growth when deciding if more economic easing is necessary. Job growth has been very slow and below projected numbers the past few months.

All in all, there is not much information that we have not already been given. Mortgage rates are remaining at record low levels and it appears the FED will not push to purchase mortgage backed securities unless it absolutely has too.

I predict for rates to stay stable barring anything unforeseen happening in the market.

My best value of the week:

30 Year Fixed High Balance Loans at 3.75% paying 0 points
5/1 ARM at 2.5% paying .0 points

Below are rates available today paying a point or less:

30 year fixed: 3.375% paying .89 points, 3.5% paying 0 points
20 year fixed: 3.25% paying .78 points, 3.375% paying 0 points
15 year fixed: 2.75% paying .7 points, 2.99% paying 0 points
5/1 ARM: 2.25% paying .8 points, 2.5% paying 0 points
7/1 ARM: 2.375% paying .8 points, 2.625% paying 0 points
30 year fixed High Balance Loan: 3.5% paying .90 point, 3.75% paying 0 points
30 year fixed FHA: 3.25% paying 0 points
15 year fixed FHA: 2.75% paying .19 points, 2.875% paying 0 points
30 year fixed VA: 3.25% 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 Remain Stable – 30 Year Fixed at 3.75%

MORTGAGE RATES BREAK ANOTHER RECORD – 30 YEAR FIXED AT 3.5% WITH 0 POINTS!!

MORTGAGE RATES BREAK ANOTHER RECORD – 30 YEAR FIXED AT 3.5% WITH 0 POINTS!!

July 9th, 2012

The MBS market closed last week trading up (+ 56 bps).  Another great week for interest rates, surpassing the all time lows reached just a week ago.

Interest rates are on a roll, and the economy is not.  More and more data is supporting the US Economy losing momentum.  There is no job growth.  Stocks are way down.  Investors continue to fear Europe’s monetary collapse.

All this is bad news for our country as a whole, but can benefit you as an individual.  The reality is that rates are this low because of what is going on right now with the economy.

Take advantage of refinancing if you can.  You will be getting a better deal right now than you would at any other time in history. 

My best value of the week:

30 Year Fixed at 3.5% paying .0 points

15 Year Fixed at 2.875% paying 0 points

Below are rates available today paying a point or less:

30 year fixed: 3.375% paying .77 points, 3.5% paying 0 points

20 year fixed: 3.25% paying .44 points, 3.375% paying 0 points

15 year fixed: 2.75% paying .5 points, 2.875% paying 0 points

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

7/1 ARM: 2.375% paying 1 point, 2.75% paying 0 points

30 year fixed High Balance Loan: 3.625% paying .572 point, 3.875% paying 0 points

30 year fixed FHA: 3.25% paying 0 points

15 year fixed FHA: 2.75% paying .21 points, 2.875% paying 0 points

30 year fixed VA: 3.25% 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 BREAK ANOTHER RECORD – 30 YEAR FIXED AT 3.5% WITH 0 POINTS!!

MORTGAGE RATES SURPASS ALL TIME LOWS AGAIN!!

MORTGAGE RATES SURPASS ALL TIME LOWS AGAIN!!!

July 2nd, 2012

The MBS market closed last week trading up (+28 bps).  So far on July 2nd, the MBS market is trading up (+31 bps ).

Mortgage Rates have again surpassed their lowest levels ever.  It sounds like a broken record as we have seen 3 records over the past few weeks.  The concern is also still the same – investors are seeking safe investments due to the increasingly gloomy look on Europe’s economy.  This is helping keep rates low and helping them go even lower.

I mentioned this a couple weeks ago, but when you get down this low, lenders aren’t as willing to give out as much better pricing as they usually would when the MBS market trades up.  The market is up close to + 60 bps over the past week, but you are not seeing as much change in pricing as you usually would.

I recommend locking as rates are unbelievable and lenders aren’t going to give out much better pricing unless the MBS market breaks a new barrier. 

My best value of the week:

30 Year Fixed at 3.5% paying .31 points

Below are rates available today paying a point or less:

30 year fixed: 3.5% paying .31 points, 3.625% paying 0 points

20 year fixed: 3.25% paying .76 points, 3.375% paying 0 points

15 year fixed: 2.75% paying .83 points, 2.99% paying 0 points

5/1 ARM: 2.25% paying .89 points, 2.625% paying 0 points

7/1 ARM: 2.375% paying 1 point, 2.75% paying 0 points

30 year fixed High Balance Loan: 3.625% paying 1 point, 3.875% paying 0 points

30 year fixed FHA: 3.25% paying 0 points

15 year fixed FHA: 2.75% paying .21 points, 2.875% paying 0 points

30 year fixed VA: 3.25% 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 SURPASS ALL TIME LOWS AGAIN!!