Month: March 2013

INTEREST RATES CONTINUE TO IMPROVE – LAST WEEK TO START A FHA LOAN BEFORE MI RATES GO UP

INTEREST RATES CONTINUE TO IMPROVE – LAST WEEK TO START A FHA LOAN BEFORE MI RATES GO UP

March 25th, 2013

Interest rates continued positive momentum last week.  The Mortgage Backed Security market traded up 4 of the 5 days closing the week up (+16 bps).  The one day that held interest rates from going much lower was Wednesday when the Fed stated that they would try to keep bank interest rates low through 2015.  This resulted in positive momentum in the stock market and a sell off in the MBS market. 

Many economic reports will be released this week, but the most important interest rate event is the financial crisis in Cyprus.  Investors are concerned that a financial collapse in the country could cause further unrest in the European Union. 

If Cyprus is able to get financial aid and remain in the European Union – expect to see interest rates go up.  If not, more uncertainty will result in investors seeking safety and interest rates dropping.

This is absolutely the last week that borrowers can take advantage of current FHA MI guidelines.  FHA will raise mortgage insurance rates and make them for the life of the loan on Monday.  In order to avoid this increase, you need to get your FHA case number pulled by Friday.  Please call me if you would like to take advantage of current FHA MI guidelines before they go up.

Make it a great week!!

BEST VALUE OF THE WEEK:

30 Year Fixed at 3.75% paying 0 points

TODAY’S RATES:

30 year fixed:     3.625% paying .47 points,     3.75% paying 0 points,     3.99% – $0 costs

20 year fixed:   3.5% paying .46 points,     3.625% paying 0 points,     3.75%  – $0 costs

15 year fixed:   2.75% paying .99 points,     3% paying 0 points,     3.125% – $0 costs

5/1 ARM:   2.25% paying .65 points,     2.5% paying 0 points,     2.75% – $0 costs

7/1 ARM:    2.375% paying .99 points,     2.75% paying 0 points,     2.875%- $0 costs

30 year fixed High Balance Loan:    3.75% paying .77 points;     4% paying 0 points;     4.125% – $0 costs

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

15 year fixed FHA:    2.75% paying 0 points,     3.25% – $0 costs

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

TR-3-25-13

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 CONTINUE TO IMPROVE – LAST WEEK TO START A FHA LOAN BEFORE MI RATES GO UP

INTEREST RATES IMPROVE – FED MEETING THIS WEEK

INTEREST RATES IMPROVE  –  FED MEETING THIS WEEK

March 18th, 2013

Interest rates had a good week last week with the mortgage backed security market closing the week trading up (+ 60 bps).  Welcome news after the sharp rise in rates the week before.  Overall, fixed interest rates went down approximately .125% with similar costs.

Even with positive trading for the majority of last week, the market was still very volatile.  Expect that to continue.

The main things to watch this week will be:

The Federal Open Market Committee’s public statement on Wednesday

The Stock Market’s performance

As always, the monthly Fed meeting and policy statement has the ability to substantially alter interest rates.  With most recent economic news being positive, many are watching to see if the FED will give clues on if they will stop buying treasuries and mortgage backed securities early.  If they do, expect rates to rise quickly.

The stock market has been trading at all time high’s for a couple of weeks now.  Many prognosticators have predicted a pull back, but this hasn’t happened yet.  If we do see some stock sell off and profit taking, interest rates will likely improve.

Remember that FHA is raising mortgage insurance rates and making it for the life of the loan on April 1st.  You can still get in with the old guidelines if I pull your FHA case number before April 1st. 

Had a great time running a race in Moab, Utah this weekend and celebrating my son’s 2nd Birthday.  I apologize if I was unavailable to get back to some of you to this week.  I will be back in town Monday afternoon.

arches rs

 

 

 

 

 

 

 

 

 

 

Make it a great week!!

BEST VALUE OF THE WEEK:

15 Year Fixed at 3.125% paying $0 costs

TODAY’S RATES:

30 year fixed:     3.625% paying .61 points,     3.75% paying 0 points,     4% – $0 costs

20 year fixed:   3.5% paying .76 points,     3.625% paying 0 points,     3.875%  – $0 costs

15 year fixed:   2.75% paying .99 points,     3% paying 0 points,     3.125% – $0 costs

5/1 ARM:   2.25% paying .82 points,     2.5% paying 0 points,     2.75% – $0 costs

7/1 ARM:    2.5% paying .72 points,     2.75% paying 0 points,     3%- $0 costs

30 year fixed High Balance Loan:    3.75% paying .77 points;     4.125% – $0 costs

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

15 year fixed FHA:    2.75% paying 0 points,     2.875% – $0 costs

30 year fixed VA:    3.25% – $0 costs

TR- 3-18-2103

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 IMPROVE  –  FED MEETING THIS WEEK

FIXED INTEREST RATES CLOSE WEEK AT MULTI-MONTH HIGH – ARMS STILL PRICING GREAT

FIXED INTEREST RATES CLOSE WEEK AT MULTI-MONTH HIGH  –  ARMS STILL PRICING GREAT.

March 10th, 2013

Interest rates rose every day last week – and the rate markets look increasingly bearish moving forward.

The Mortgage Backed Security market closed last week (-85 bps).  The week was capped by a better than expected February unemployment report with unemployment dropping from 7.9% to 7.7%.  Non farm jobs increased 236,000 and private jobs increased 246,000.

The stock markets are up in the US, Europe and Asia.  Though the stock market seems prime for a pullback, the biggest concern to interest rates going forward is if the FED decides to stop purchasing mortgage backed securities sooner than expected.  The more positive news coming out – the increasing likelihood that the FED will eventually stop keeping interest rates artificially low.

Although fixed rates have went up, ARM rates are still pricing great.  I think a 7/1 ARM is a great product, and something to consider in this market.  The rate doesn’t adjust for 7 years, and the rate can never go 5% above the start rate – and it is unlikely the rate would go that high.

We could see some improvement in interest rates this week, but the long term outlook still looks bleak.  I recommend locking rates on any improvement in the rate markets this week.

I am going to Moab, Utah for a half marathon on Wednesday.  If you would like to get approved or lock in a loan this week, please try to get a hold of me early in the week. 

Make it a great week!!

BEST VALUE OF THE WEEK:

7/1 ARM at 2.75% paying 0 points

TODAY’S RATES:

30 year fixed:     3.75% paying .39 points,     3.875% paying 0 points,     4.125% – $0 costs

20 year fixed:   3.625% paying .71 points,     3.75% paying 0 points,     4%  – $0 costs

15 year fixed:   2.875% paying .75 points,     3% paying 0 points,     3.375% – $0 costs

5/1 ARM:   2.25% paying .98 points,     2.5% paying 0 points,     2.875% – $0 costs

7/1 ARM:    2.5% paying .95 points,     2.75% paying 0 points,     3.125%- $0 costs

30 year fixed High Balance Loan:    3.875% paying .9 points;     4.125% paying 0 points;    4.25% – $0 costs

30 year fixed FHA:    3.25% paying .33 points,    3.5% – $0 costs

15 year fixed FHA:    2.75% paying 0 points,     3.125% – $0 costs

30 year fixed VA:    3.25% paying 0 points,    3.5% – $0 costs

TR-3-10-2013

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.

FIXED INTEREST RATES CLOSE WEEK AT MULTI-MONTH HIGH  –  ARMS STILL PRICING GREAT

LOWEST INTEREST RATES IN OVER A MONTH – 30 YEAR FIXED TO 3.5%

INTEREST RATES SHOW BIGGEST IMPROVEMENT IN OVER A MONTH – 30 YEAR FIXED TO 3.5%

March 4th, 2013

Interest rates have been creeping up since December. Interest rates needed a dramatic event to turn the tide, and we saw that on Monday. With uncertainty regarding the results of the Italian elections, the stock markets tanked and interest rates received a much needed jolt. The Mortgage Backed Security market closed the week (+ 59 bps), pushing rates to their lowest levels in over a month.

The sequester came and went on Friday and it appeared the markets were expecting it, with no major movement.  The next debate is the debt ceiling, with the Federal government set to run out of money later this month. On Friday of this week, the unemployment report comes out which usually has a pretty large effect on interest rate pricing.

Remember that FHA is raising their mortgage insurance premiums and making them last the life of the loan on April 1st. If you pull your FHA case number before that, you can still qualify for the current guidelines.

Make it a great week!!

BEST VALUE OF THE WEEK:

30 Year Fixed at 3.625% paying 0 points

TODAY’S RATES:

30 year fixed:     3.5% paying .58 points,     3.625% paying 0 points,     3.75% – $0 costs

20 year fixed:     3.375% paying .65 points,     3.5% paying 0 points,     3.75% – $0 costs

15 year fixed:     2.75% paying .73 points,      3% paying 0 points,     3.125% – $0 costs

5/1 ARM:      2.125% paying .92 points,      2.375% paying 0 points,      2.75% – $0 costs

7/1 ARM:      2.375% paying .80 points,      2.625% paying 0 points,      2.875%- $0 costs

30 year fixed High Balance Loan:     3.625% paying .73 points;      3.875% paying 0 points;      4% – $0 costs

30 year fixed FHA:      3.25% – $0 costs

15 year fixed FHA:      2.75% paying 0 points,      2.875% – $0 costs

30 year fixed VA:      3.25% – $0 costs

TR-3-4-2013

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 SHOW BIGGEST IMPROVEMENT IN OVER A MONTH  –  30 YEAR FIXED TO 3.5%