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!!

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