RATES HIT LOWEST LEVELS SINCE JANUARY
April 8th, 2013
Interest rates had their best week in months. Interest rates dropped approximately .125% on the week with the Mortgage Backed Security market closing up (+ 122 bps). This is the fourth consecutive week that interest rates have improved, with last week being the most dramatic drop.
The economic optimism is coming back to earth which is helping interest rates come back down. The Dow Jones closed last week close to where it began. American citizens in some industries are now starting to feel the effects of the sequester. North Korea’s bold rhetoric is starting to worry some investors.
The week was capped by a lower than expected March job report. Although the unemployment rate dropped from 7.7% to 7.6%, job growth was much lower than forecasted. Non farm jobs only grew 88k from an expected 200k. The drop in unemployment is mainly due to people leaving the work force.
This week is another great opportunity to lock in as rates are at their lowest levels since January.
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 .21 points, 3.625% paying 0 points, 3.75% – $0 costs
20 year fixed: 3.25% paying .87 points, 3.5% paying 0 points, 3.625% – $0 costs
15 year fixed: 2.625% paying .83 points, 2.875% paying 0 points, 3% – $0 costs
5/1 ARM: 2% paying .99 points, 2.375% paying 0 points, 2.625% – $0 costs
7/1 ARM: 2.25% paying .89 points, 2.5% paying 0 points, 2.75%- $0 costs
30 year fixed High Balance Loan: 3.625% paying .44 points; 3.75% paying 0 points; 3.875% – $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.
RATES HIT LOWEST LEVELS SINCE JANUARY
