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!!