Month: January 2013

Today’s Rates – 30 Year Fixed at 3.375%

TODAY’S RATES – 30 YEAR FIXED AT 3.375%

January 14th, 2012

Last week interest rates rose after hitting their best levels of the year on Monday. The Mortgage Backed Security Market traded down (– 50 bps) on Thursday, but recovered some on Friday. Overall on the week, the MBS market closed down (-5 bps).

Technical indicators are showing that the market has a higher appetite for stocks and a smaller appetite for bonds. If this trend continues we will continue to see interest rates trend higher, like they have over the past 2 months.

I recommend locking in pricing on any improvements in the market. I am going to Hawaii for 10 days on January 28th. If you think you would like to get something started this week, please call/email as soon as you can.

Hawaii

Have a great week!!

BEST VALUE OF THE WEEK:

15 Year Fixed at 2.99% with $0 costs

TODAY’S RATES:

30 year fixed:      3.375% paying .87 points,      3.5% paying 0 points,      3.75% – $0 costs
20 year fixed:      3.375% paying .53 points,      3.5% paying 0 points,       3.625% – $0 costs
15 year fixed:      2.75% paying .42 points,       2.875% paying 0 points,       2.99% – $0 costs
5/1 ARM:      2.25% paying .98 points,       2.625% paying 0 points,      2.875% – $0 costs
7/1 ARM:      2.5% paying .87 points,       2.75% paying 0 points,      3.125%- $0 costs
30 year fixed High Balance Loan:      3.625% paying .41 points;       3.75% paying 0 points;       4% – $0 costs
30 year fixed FHA:      3.25% – $0 costs
15 year fixed FHA:       2.75% – 0 points,       3% – $0 costs
30 year fixed VA:      3.25% – $0 costs

TR-1-21-2013

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 Rates – 30 Year Fixed at 3.375%

INTEREST RATES DROP TO LOWEST LEVELS OF 2013

INTEREST RATES DROP TO LOWEST LEVELS OF 2013

January 14th, 2012

Interest rates hit their lowest levels of 2013 on Monday.

Mortgages rates improved and recovered some of their losses over the last week. The Mortgage Backed Security market closed up (+ 6 bps) last week, and up (+ 13 bps) on Monday.

The improvement was mainly due to a pull back of what I consider to be an overreaction by the market to December’s Fed minutes.

There is quite a few retail and housing reports due out this week along with Congress continuing the debt ceiling debate.

My recommendation is to lock if you are currently considering a loan. The MBS market is bearish and many investors in mortgage backed securities aren’t making money due to the amount of repeat refinances.

Have a great week and please call me if you would like to get a quote or have any questions about qualifying for a new loan.

BEST VALUE OF THE WEEK:

30 Year Fixed at 3.5% with 0 points

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 .77 points,     3.5% paying 0 points,     3.625% – $0 costs

15 year fixed:     2.75% paying .17 points,     2.875% paying 0 points,     2.99% – $0 costs

5/1 ARM:     2.25% paying 1 point,      2.625% paying 0 points,      2.875% – $0 costs

7/1 ARM:      2.5% paying .89 points,       2.75% paying 0 points,       3.125%- $0 costs

30 year fixed High Balance Loan:      3.5% paying .95 points;      3.75% paying 0 points;      3.875% – $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 - 1-14-2013

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 Drop to Lowest Levels of 2013

FED MINUTES RELEASE TRIGGERS RISE IN INTEREST RATES – COULD SEE SOME RECOVERY THIS WEEK

FED MINUTES RELEASE TRIGGERS RISE IN INTEREST RATES  –  COULD SEE SOME RECOVERY THIS WEEK

January 7th, 2012

On Thursday of last week – the mortgage backed security market saw one of its biggest sell offs in months with the release of the FED Minutes from the Federal Open Market Committee. 

On Thursday alone, mortgage backed securities dropped  (-69 bps) – pushing rates to their highest levels in months.  Luckily on Friday and Monday, we saw some recovery in the markets, closing up (+ 22 bps) and up (+ 6 bps) respectively. 

The Fed minutes release the discussions of the Federal Open Market Committee in their meetings.  The minutes show that many members of the FED believe that the FED should stop purchasing mortgage backed securities sooner rather than later.  The FED purchasing mortgage backed securities is keeping interest rates lower than they should be in a normal market.  The dissension among multiple FED members regarding the continuation of this policy caused the market to sell off mortgage backed securities pushing rates higher. 

I expect rates to improve some this week as the market overreacted to news that was already known.  Not every member of the FED approves of the FED printing money to keep interest rates artificially low. 

Many consumers have come to take for granted how low rates are.  Rates can go up and they can go up quickly.  If you can lock in a beneficial refinance rate do it – there is no guarantee that rate will be there tomorrow.  Rates go up a lot faster than they go down.

I do expect some modest pull back this week with some rate improvement – but I think the lowest rates are behind us. 

Have a great week!!

TODAY’S RATES:

30 year fixed:     3.375% paying .96 points,     3.625% paying 0 points,     3.75% – $0 costs

20 year fixed:   3.375% paying .62 points,     3.5% paying 0 points,     3.75%  – $0 costs

15 year fixed:   2.75% paying .43 points,     2.875% paying 0 points,     3% – $0 costs

5/1 ARM:   2.25% paying 1 point,     2.625% paying 0 points,     3% – $0 costs

7/1 ARM:    2.5% paying .97 points,     2.75% paying 0 points,     3.125%- $0 costs

30 year fixed High Balance Loan:    3.625% paying .526 points;     3.75% paying 0 points;    4% – $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-1-7-2013

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.

FED MINUTES RELEASE TRIGGERS RISE IN INTEREST RATES  –  COULD SEE SOME RECOVERY THIS WEEK

HOW WILL THE FISCAL CLIFF DEAL AFFECT MORTGAGE RATES?

HOW WILL THE FISCAL CLIFF DEAL AFFECT MORTGAGE RATES?

January 2nd, 2013

Happy New Year!!

On January 1st, Congress finally came to a deal to avoid the “fiscal cliff”.  The deal essentially kicks the main issues down the road, but averts the tax increases for the majority of Americans.

As expected, the markets responded and the stock market surged and mortgage rates went up.  Currently the Mortgage Backed Security market is trading down – 22 bps on the week. 

Fortunately, because the Feds continue to buy and keep demand in place for mortgage backed securities, rates were not hit that hard.  The average 30 year fixed pricing went up .23 pts at any given rate.  Shorter term loans and ARM pricing did not go up as much. 

The Fiscal Cliff deal basically:

1.)     Increases taxes on individuals making 400k per year or more

2.)     Increases taxes on married couples making 450k per year or more

3.)     Increases taxes on dividend and capital gain income.

So one part of the Fiscal Cliff is resolved – the major tax increases that would have affected all Americans. 

The other issue that was kicked down the road was the debt issue.  There is a 2 month period before automatic spending cuts will go into effect for the US treasury.  So the debate on the fiscal cliff is really just beginning, with the US deficit still not addressed. 

Congress will have to come to an agreement on key spending cuts or raise the debt ceiling again.  The markets will likely remain volatile until March 1st, as a deal will likely not happen until the last possible moment.

Rates are very volatile right now and the benefits in locking a loan outweigh the risk and possible pricing improvement that may accompany floating a rate.  Rates are only .125% higher than their all time lows.  I am recommending locking at this point.  If rates drop .25% during the loan process, a rate can be floated down.

Have a great week!!

TODAY’S RATES:

30 year fixed:     3.375% paying .634 points,     3.5% paying 0 points,     3.75% – $0 costs

20 year fixed:   3.25% paying .99 points,     3.5% paying 0 points,     3.625%  – $0 costs

15 year fixed:   2.75% paying .30 points,     2.875% paying 0 points,     2.99% – $0 costs

5/1 ARM:   2.25% paying 1 point,     2.625% paying 0 points,     3% – $0 costs

7/1 ARM:    2.5% paying .99 points,     2.875% paying 0 points,     3.125%- $0 costs

30 year fixed High Balance Loan:    3.5% paying .966 points;     3.75% paying 0 points;    3.875% – $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 - 1-2-2013

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.

HOW WILL THE FISCAL CLIFF DEAL AFFECT MORTGAGE RATES?