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!!