INTEREST RATES FINALLY IMPROVE – LOWEST RATES THIS MONTH
June 17th, 2013
After 6 straight weeks of interest rates moving higher, interest rates finally showed some improvement last week. The Mortgage Backed Security market closed the week trading up + 36 bps.
This is a huge week for interest rates as the Federal Open Market Committee (FOMC) will meet and release a statement on Wednesday followed by a Ben Bernanke press conference. Ben Bernanke’s last statements caused rates to rise .5% very quickly. It’s amazing how much power the markets put into any hint of what the FED may do.
There is speculation both ways on what the statement and press conference may reveal. Some predict that the FED may confirm it will not taper off the bond purchasing program. I don’t think Bernanke knew his last statement would cause such a panic sell off in the bond markets. This along with the unemployment rate still being high and the economy not improving as much as the FED would like could cause this response.
On the other hand there is speculation that the FED will confirm that it will taper off the bond purchasing program, which has been hinted at for some time.
Either way, expect a very volatile rate market after Wednesday. The news on Wednesday will likely give us direction on where long term interest rates are headed.
Make it a great week!!
BEST VALUE OF THE WEEK:
15 Year Fixed at 3.25% – 0 points
TODAY’S RATES:
30 year fixed: 3.875% – .82 points, 4% – 0 points, 4.25% – $0 costs
20 year fixed: 3.625% – .27 points, 3.75% – 0 points, 3.875% – $0 costs
15 year fixed: 3% – .74 points, 3.25% – 0 points, 3.5% – $0 costs
5/1 ARM: 2.5% – .67 points, 2.75% – 0 points, 3.25% – $0 costs
7/1 ARM: 2.75% – .59 points, 3% – 0 points, 3.375%- $0 costs
10/1 ARM: 3.375% – .86 points, 3.75% – 0 points
30 year fixed FHA: 3.25% – .9 points, 3.5% – 0 points, 3.625% – $0 costs
15 year fixed FHA: 2.75% – .89 points, 3% – 0 points, 3.25% – $0 costs
30 year fixed VA: 3.375% – .66 points, 3.625% paying 0 points, 3.75%- $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 FINALLY IMPROVE – LOWEST RATES THIS MONTH
