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
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%
