INTEREST RATES IMPROVE FOR 2ND STRAIGHT WEEK:
July 22nd, 2013
Interest rates improved for the second straight week. The Mortgage Backed Security Market closed up + 81 bps, bringing us back to pre-4th of July level pricing.
On Wednesday, Ben Bernanke testified in front of Congress that the Fed’s tapering of it’s bond purchasing program was not “imminent”, but that the FED was monitoring the economy. When the FED feels the economy is where it needs to be, then the FED will begin to end it’s stimulus.
This helped the markets because many investors felt the FED was planning on slowing down it’s bond purchasing in September. I still believe the FED will slow down the stimulus in September, unless some event pulls back the forecast of the economy.
I expect rates to be relatively calm until the July unemployment report. These employment reports are huge moving forward, and will likely be one of the key determining factors in the FED’s decision to slow down it’s bond purchasing program. The July employment numbers are released next Friday morning.
I am recommending to lock on any improvement in rate pricing.
Make it a great week!!
BEST VALUE OF THE WEEK:
20 Year Fixed at 4.25% with 0 points
TODAY’S RATES:
30 year fixed: 4.25% – 1 point, 4.5% – 0 points, 4.625% – $0 costs
20 year fixed: 4.125% – .43 points, 4.25% – 0 points, 4.5% – $0 costs
15 year fixed: 3.5% – .57 points, 3.625% – 0 points, 4% – $0 costs
5/1 ARM: 2.75%: – .85 points, 3.125% – 0 points
7/1 ARM: 3.125% – .79 points, 3.5% – 0 points
10/1 ARM: 3.875% – .89 points, 4.375% – 0 points
30 year fixed FHA: 3.75% – .62 points, 4% – 0 points, 4.125% – $0 costs
15 year fixed FHA: 3.25% – .63 points, 3.5% – 0 points, 3.75% – $0 costs
30 year fixed VA: 4% – .10 points, 4.125% – 0 points, 4.25% – $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.
JULY 22ND 2013, INTEREST RATES IMPROVE FOR 2nd STRAIGHT WEEK
