INTEREST RATES HAVE GREAT WEEK – FISCAL CLIFF NEGOTIATIONS DOMINATE THE MARKETS

INTEREST RATES HAVE GREAT WEEK – FISCAL CLIFF NEGOTIATIONS DOMINATE THE MARKETS:

December 3rd, 2012

Interest rates had some nice improvement last week – the mortgage backed security market closed 4 of the 5 days higher, ending the week trading up (+ 69 bps). Early Monday morning the market is trading down (– 18 bps), taking back some of the gains from last week.

The Fiscal cliff negotiations continue to dominate the stock and bond markets as politicians take to talk shows and news channels. So far neither side is budging, which is to be expected. Each party must publicly give the impression that they are doing everything in their power to stick to their guns.

The reality is the public posturing will likely go on through all of December and then a deal will get done at the last moment. Unfortunately, the markets tend to overreact with each new tidbit coming out of Washington. Taxes will have to go up or spending will have to go down – or most likely a mixture of both.

In other news this week – the Europe Debt crisis seems to be tapering off somewhat, and November’s unemployment report will come out on Friday. I expect rates to continue to remain close to their current levels with 30 year fixed staying around 3.25% to 3.375% for the remainder of the year.

Have a great week!!

TODAY’S RATES:

30 year fixed:      3.25% paying .88 points,    3.5% paying 0 points,      3.625% – $0 costs

20 year fixed:     3.125% paying 1 point,     3.25% paying 0 points,     3.5% – $0 costs

15 year fixed:     2.625% paying 1 point,     2.875% paying 0 points,     3% – $0 costs

5/1 ARM:      2.125% paying .83 points,      2.5% paying 0 points,      2.75% – $0 costs

7/1 ARM:      2.25% paying 1 point,      2.625% paying 0 points,      2.875%- $0 costs

30 year fixed High Balance Loan:     3.5% paying .33 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

TR - 12-3-2012

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 HAVE GREAT WEEK – FISCAL CLIFF NEGOTIATIONS DOMINATE THE MARKETS

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