OCTOBER 2012 – RATES RISE SLIGHTLY, STILL NEAR RECORD LOWS

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OCTOBER 2012 – RATES RISE SLIGHTLY, STILL NEAR RECORD LOWS

October 1st, 2012            

Happy October!!

The MBS market closed last week trading up (+ 37 bps), and is currently trading (+ 25 bps) on Monday morning.

While mortgage rates should have improved last week- they actually increased slightly.  This is a result of most lenders enacting the Fannie Mae/Freddie Mac guaranteed fee increase for loans delivered to Fannie Mae/Freddie Mac December 1st, 2012 and later.

This week will likely be volatile in the rate markets with Europe still working on plans to save the Euro.  On Friday, the unemployment report comes out.  This will usually push rates one way or the other.  The expectation is that jobs will increase but the unemployment report will stay the same due to potential workers dropping out of the job market.

Now is still a great time to lock in at record low rates.

My best values of the week:

30 Year Fixed at 3.5% paying 0 points

30 Year Fixed High Balance Loan at 3.5% with 0 points

Below are rates available today paying a point or less:

30 year fixed:  3.25% paying .773 point, 3.5% paying 0 points

20 year fixed:  3.25% paying .149 points, 3.375% paying 0 points

15 year fixed:  2.625% paying .74 points, 2.875% paying 0 points

5/1 ARM:  2.125% paying .99 points, 2.5% paying 0 points

7/1 ARM:  2.25% paying .99 points, 2.625% paying 0 points

30 year fixed High Balance Loan:  3.5% paying 0 points

30 year fixed FHA:  3.25% paying 0 points

15 year fixed FHA:  2.75% 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.  Arizona Home Loans, California Home Loans, Colorado Home Loans.  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.

OCTOBER 2012 – RATES RISE SLIGHTLY, STILL NEAR RECORD LOWS

 

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Experienced Mortgage Loan Officer / Team Manager. A part of the mortgage industry since 2004 in every facet - sales, leadership, management, etc. My objective is to provide a great mortgage product to my client with great customer service and a timely closing.

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