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
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.
INTEREST RATES VERY VOLATILE IN WAKE OF FISCAL CLIFF
