INTEREST RATES IMPROVE FOR THIRD STRAIGHT WEEK
April 1st, 2013
Interest rates showed steady improvement for the third straight week. The Mortgage Backed Security market closed the week trading up (+ 28 bps).
Although we are not seeing massive rate movement, interest rates gradually decreasing is a positive development for those considering a new mortgage. With the recent rate improvement, those currently in the low 4%’s on a 30 year fixed mortgage can take advantage of a lower rate at $0 costs.
In European debt news, Cyprus was able to reach a bail out deal, but the unrest in the European Union will likely keep investors buying safer mortgage backed securities and US treasury bonds. This security measure should work as an obstacle for rates to move higher.
LOCK ADVICE:
Now is a good time to lock. Rates have improved for 3 weeks straight and are at their lowest levels since January.
This week is employment week with March’s unemployment report to be released on Friday. As always, this usually causes considerably movement in the interest rate markets.
Make it a great week!!
BEST VALUE OF THE WEEK:
30 Year Fixed at 3.875% paying $0 costs
TODAY’S RATES:
30 year fixed: 3.5% paying 1 point, 3.75% paying 0 points, 3.875% – $0 costs
20 year fixed: 3.375% paying 1 point, 3.625% paying 0 points, 3.75% – $0 costs
15 year fixed: 2.75% paying .96 points, 3% paying 0 points, 3.125% – $0 costs
5/1 ARM: 2.125% paying .95 points, 2.375% paying 0 points, 2.75% – $0 costs
7/1 ARM: 2.375% paying .88 points, 2.625% paying 0 points, 2.875%- $0 costs
30 year fixed High Balance Loan: 3.75% paying .71 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 .26 points, 3% paying 0 points, 3.25% – $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 IMPROVE FOR THIRD STRAIGHT WEEK
