INTEREST RATES STABLE LAST WEEK / UNCERTAINTY LOOMS

INTEREST RATES STABLE LAST WEEK  /   UNCERTAINTY LOOMS

February 18th, 2013

I hope everyone had a great President’s day and hopefully got the day off of work.

The MBS market closed down (-48 bps) on the week.  Most of the movement was due to a monthly rollover.  Even though the MBS market was down, interest rates stayed almost identical to the week before.

The markets are in a bit of a holding pattern on what will happen next.  The big events this week will be:

-The release of the FED minutes from January on Wednesday.  This is one of the events last month that led to rates rising.  If the FED conversations lead investors to believe that the FED plans to move away from QE or purchasing bonds and mortgage securities – rates will likely rise.

-The release of various housing data that should give more indication on the direction of the economy.

We have a bullish stock market and rising confidence in the economy – not good signs for interest rates. 

I still think we are in a market where interest rates are more likely to rise than fall.  The one ace in the hole for interest rates is the debt ceiling debate.  If the sequester happens and large mandatory spending cuts take place, I think we will see stock markets drop some, and  interest rates drop some.  However, I think that is unlikely to happen.

My recommendation is still to lock on any improvements.  If you can refinance and lower your rate with $0 costs – that is never a bad thing.  If rates drop again, you can always refinance again as very few loans hold prepayment penalties any longer.

Have a great week!!

BEST VALUE OF THE WEEK:

15 Year Fixed at 2.99% paying 0 points

TODAY’S RATES:

30 year fixed:     3.625% paying .43 points,     3.75% paying 0 points,     3.99% – $0 costs

20 year fixed:   3.375% paying .99 points,     3.625% paying 0 points,     3.75%  – $0 costs

15 year fixed:   2.75% paying .99 points,     2.99% paying 0 points,     3.25% – $0 costs

5/1 ARM:   2.375% paying .53 points,     2.5% paying 0 points,     2.875% – $0 costs

7/1 ARM:    2.5% paying .99 points,     2.75% paying 0 points,     3.125%- $0 costs

30 year fixed High Balance Loan:    3.75% paying .76 points;     4.125% paying 0 points;    4.25% – $0 costs

30 year fixed FHA:    3.25% paying 0 points,     3.375% paying $0 costs

15 year fixed FHA:    2.75% – 0 points,     3% – $0 costs

30 year fixed VA:    3.25% – $0 costs

TR - 2-8-13

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 STABLE LAST WEEK – UNCERTAINTY LOOMS

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