TODAY’S INTEREST RATES

TODAY’S INTEREST RATES

November 26th, 2012

I hope everyone had a happy and safe Thanksgiving!!

Interest rates rose last week with the Mortgage Backed Security market trading down (-53 bps). The stock market has been doing very well recently with optimism that a Fiscal Cliff deal will get done and positive signs from the economy.

I think the stock market is probably overbought a little bit, so I expect some rate improvement this week. On Monday morning, the MBS market is trading up (+22 bps), so rates should improve from their close on Friday. I do not expect a huge change in pricing, but I do predict some movement in a positive direction for interest rates.

The Holidays are usually a popular time to refinance. You always get a 1 month payment deferral on your mortgage, and you get refund from your old escrow account after closing if you impound your taxes and insurance in your payment. I can still get most loans done today by Christmas. If you are interested in lowering your payment and getting some extra cash in your pocket for the Holidays, please call me today.

TODAY’S RATES:

30 year fixed: 3.375% paying .43 points, 3.5% paying 0 points, 3.625% – $0 costs

20 year fixed: 3.25% paying .43 points, 3.375% paying 0 points, 3.5% – $0 costs

15 year fixed: 2.75% paying .46 points, 2.875% paying 0 points, 3.125% – $0 costs

5/1 ARM: 2.125% paying .96 points, 2.5% paying 0 points, 2.75% – $0 costs

7/1 ARM: 2.375% paying .89 points, 2.625% paying 0 points, 2.875%- $0 costs

30 year fixed High Balance Loan: 3.5% paying .61 points; 3.625% – 0 points; 3.75% – $0 costs

30 year fixed FHA: 3.25% – $0 costs

15 year fixed FHA: 2.75% – $0 costs

30 year fixed VA: 3.25% – $0 costs

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.

Today’s Interest Rates.

FHA RAISING MORTGAGE INSURANCE PREMIUMS IN 2013 – THEY WILL NOW LAST FOR THE LIFE OF THE LOAN.

FHA MORTGAGE INSURANCE CHANGES COMING IN 2013

FHA has announced that they are increasing mortgage insurance premiums yet again. This is the continuation of a trend for FHA – FHA has raised mortgage insurance premiums for 3 years straight. Here are the changes coming:

– 10 bps increase on monthly mortgage insurance premiums. This will raise mortgage payments by $8.33 per month per $100,000 in loan amount.

– Monthly Mortgage Insurance will now be carried for the life of the loan. Currently, you can remove mortgage insurance premiums after 5 years and once you pay the loan down to 78% Loan to Value of the original appraisal.

These are big changes, especially the Monthly mortgage insurance for life. If you are looking to streamline your existing FHA loan or purchase a new home with a FHA loan, now is the time to do it before the mortgage insurance premiums go up and last for the life of the loan.

FHA RAISING MORTGAGE INSURANCE PREMIUMS IN 2013 – THEY WILL NOW LAST FOR THE LIFE OF THE LOAN.

INTEREST RATES RISE SLIGHTLY – 30 YEAR FIXED PAR RATE STILL AT 3.25%

INTEREST RATES RISE SLIGHTLY – 30 YEAR FIXED PAR RATE STILL AT 3.25%

November 19th, 201

Interest rates rose slightly last week with the stock market optimistic that a deal will get done to avoid the fiscal cliff.

The Mortgage backed security market closed last week down (-28 bps), and is currently trading on Monday down (-11 bps).

On Friday, President Obama met with other political leaders to discuss the fiscal cliff. Both sides seem to be softening their stance so the stock market is optimistic that a deal will get done – which is pushing stocks up and mortgage backed securities down.

This is a shortened week due to the Thanksgiving Holiday.

On Monday, housing data was released that continues to show the housing market improving. On Tuesday, The European Union is meeting with Greece regarding additional funds to avoid the country defaulting on it’s debt. Ben Bernanke is also speaking at the NY Economics Club. The market will be listening for clues on the Fed’s next move.

Rates are still trading in narrow ranges with the same rates available with fluctuating costs depending on how the market is moving. 30 Year Fixed rates at 3.25% are still available paying a point. I see interest rates remaining in this range through the end of 2012.

Have a Happy and Safe Thanksgiving!!

TODAY’S RATES:

30 year fixed: 3.25% paying 1 point, 3.5% paying 0 points, 3.625% – $0 costs

20 year fixed: 3.25% paying .38 points, 3.375% paying 0 points, 3.5% – $0 costs

15 year fixed: 2.75% paying .42 points, 2.875% paying 0 points, 3.125% – $0 costs

5/1 ARM: 2.125% paying .89 points, 2.5% paying 0 points, 2.75% – $0 costs

7/1 ARM: 2.375% paying .74 points, 2.625% paying 0 points, 2.875%- $0 costs

30 year fixed High Balance Loan: 3.5% paying .34 points; 3.625% – $0 costs

30 year fixed FHA: 3.25% – $0 costs

15 year fixed FHA: 2.75% – 0 points, 2.875% – $0 costs

30 year fixed VA: 3.25% – $0 costs

INTEREST RATES RISE SLIGHTLY – 30 YEAR FIXED PAR RATE STILL AT 3.25%

INTEREST RATES VERY VOLATILE IN WAKE OF FISCAL CLIFF

INTEREST RATES VERY VOLATILE IN WAKE OF FISCAL CLIFF

November 14th, 2012

Interest rates have seen quite the see-saw action over the past week. Interest went up quite a bit on election day. Then dropped quite a bit after the election when the stock market dropped off.

Overall, last week interest rates improved – with the MBS market closing at (+ 47 bps).

This week has been a different story so far. The MBS market is trading (- 57 bps) for the week, pushing rates to the level we saw the week before the election.

Expect volatility in the markets right now. There is still the looming question of what Congress and the President are going to do regarding the fiscal cliff. It would be political suicide for this deal not to get done, so I definitely don’t see a compromise not being made. The question is – what will the compromise be?

I still see rates staying very similar to their current levels, but we could see quite a bit of closing cost variation on a daily basis depending on the market that day.

TODAY’S RATES

30 year fixed:    3.25% paying .97 points,    3.5% paying 0 points,     3.625% – $0 costs
20 year fixed: 3.25% paying .56 points,     3.375% paying 0 points,     3.625% – $0 costs
15 year fixed:     2.75% paying .59 points,    2.875% paying 0 points,    3.125% – $0 costs
5/1 ARM:     2.125% paying .76 points,     2.5% paying 0 points,     2.75% – $0 costs
7/1 ARM:     2.25% paying .99 points,     2.625% paying 0 points,     2.875%- $0 costs
30 year fixed High Balance Loan:     3.5% paying .199 points;     3.625% – $0 costs
30 year fixed FHA:     3.25% – $0 costs
15 year fixed FHA:     2.75% – 0 points,     2.875% – $0 costs
30 year fixed VA:     3.25% – $0 costs

INTEREST RATES VERY VOLATILE IN WAKE OF FISCAL CLIFF

INTEREST RATES HIT 3 WEEK LOW BEFORE ELECTION

INTEREST RATES HIT 3 WEEK LOW BEFORE ELECTION:

November 5^th, 2012

Rates improved to a 3 week low on the Monday before the election.

Last week the MBS market closed (+20 bps) for the week. The markets were again helped by a Friday rally that was somewhat unusual this time. October’s unemployment report was released on Friday, and even though the unemployment rate went up to 7.9%, the job creation was higher than expected which will usually trigger higher stock prices and increasing rates. This time it did the opposite.

On Monday the MBS market closed (+18 bps) on the day, after trading up over 30 bps for most of the day.

This week the market is focused on the election. The general consensus is:

If Obama wins, rates will improve

If Romney wins, rates will increase

I don’t think there will be huge swings either way, but I do see some movement based on who wins. What nobody wants is uncertainty over the results. Hopefully the winner is confirmed Tuesday evening.

Outside of the election – the Treasury is auctioning off 72 billion in notes this week. There is concern that the European debt situation could creep back into the rate markets after being absent for some time. Greece is having trouble meeting the terms of the country’s bail out. There will likely be more news on this near the end of the week

Have a great election week and get out and vote.

TODAY’S RATES:

30 year fixed: 3.25% paying .79 points, 3.375% paying 0 points, 3.625% – $0 costs

20 year fixed: 3.25% paying .25 points, 3.375% paying 0 points, 3.5% – $0 costs

15 year fixed: 2.625% paying .82 points, 2.875% paying 0 points, 3% – $0 costs

5/1 ARM: 2.125% paying .99 points, 2.5% paying 0 points, 3% – $0 costs

7/1 ARM: 2.375% paying .98 points, 2.625% paying 0 points, 3.125%- $0 costs

30 year fixed High Balance Loan: 3.5% paying 0 points; 3.625% – $0 costs

30 year fixed FHA: 3.25% – $0 costs

15 year fixed FHA: 2.75% – $0 costs

30 year fixed VA: 3.25% – $0 costs