INTEREST RATES MOVE HIGHER – 30 YEAR FIXED TO 3.375%

INTEREST RATES MOVE HIGHER – 30 YEAR FIXED TO 3.375%

December 17th, 2012

Interest Rates moved up slightly last week.  The Mortgage Backed Security Market closed the week down (-41 bps). 

The majority of the movement came when the Federal Open Market Committee announced that they were converting Operation Twist to a purchasing plan in line with QE3.  The purchasing allocation does not include mortgage bonds though, which caused pricing to fall and rates to go up. 

This week trading should be light with most traders stopping for Christmas.  Light trading usually translates to high volatility in the market.   

The Fiscal cliff negotiations still dominate the market.  Most traders are keeping close tabs on the negotiations and are prepared to come back in if something is announced.  If we go over the cliff, it will result in 600 Billion in tax increases and spending cuts starting in February, likely hurting our economy in the 1st quarter of 2013.

Have a great week!!

TODAY’S RATES:

30 year fixed:     3.375% paying .38 points,     3.5% paying 0 points,     3.625% – $0 costs

20 year fixed:   3.25% paying .61 points,     3.375% paying 0 points,     3.625%  – $0 costs

15 year fixed:   2.625% paying .96 points,     2.875% paying 0 points,     2.99% – $0 costs

5/1 ARM:   2.25% paying 76 points,     2.5% paying 0 points,     2.75% – $0 costs

7/1 ARM:    2.375% paying 1 point,     2.75% paying 0 points,     3%- $0 costs

30 year fixed High Balance Loan:    3.5% paying .94 points;     3.625% – 0 points;    3.75% – $0 costs

30 year fixed FHA:    3% paying .51 pts;    3.25% – $0 costs

15 year fixed FHA:    2.5% paying .8 points;     2.75% – $0 costs

30 year fixed VA:    3.25% – $0 costs

TR - 12-17-2012

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 MOVE HIGHER – 30 YEAR FIXED TO 3.375%

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