MORTGAGE RATES MOVING UP FAST – MOUNTING SENTIMENT THAT FED WILL TAPER IN SEPTEMBER
August 19th, 2013
It’s been a bad week for mortgage interest rates and investment markets in general.
There is rising sentiment among traders that the FED will taper their bond purchasing program in September. This is causing the mortgage backed security market and the stock market to drop and interest rates to rise. The MBS market closed last week trading down -183 bps, and Monday trading down -58 bps.
Interest rates will likely to continue to rise. The easiest way to describe this is investors aren’t going to continue to buy a mortgage security investment at a higher price, when they know the price will drop as soon as the FED tapers. So the interest rate market doesn’t have much hope for improvement because this will be looming over it’s head until the taper happens or a complete change of direction is announced.
The FOMC Minutes will be released on Wednesday and this will likely give investors more guidance on when the FED may taper.
The suggestion here is to lock, lock, lock if you haven’t already missed the boat. Rates don’t have much room to go down, but lots of room to go up.
Make it a great week!!
BEST VALUE OF THE WEEK:
10 Year Fixed at 3.75% with 0 points
TODAY’S MORTGAGE RATES:
30 year fixed: 4.625% – .79 points, 4.75% – 0 points, 5% – $0 costs
20 year fixed: 4.5% – .99 points, 4.75% – 0 points, 4.875% – $0 costs
15 year fixed: 3.625% – .84 points, 3.875% – 0 points, 4.125% – $0 costs
10 year fixed: 3.5% – .92 points, 3.75% – 0 points, 4% – $0 costs
5/1 ARM: 3.25% – .99 points, 3.875% – 0 points
7/1 ARM: 3.875% – .92 points, 4.5% – .19 points
30 year fixed FHA: 4.25% – 0 points, 4.5% – $0 costs
15 year fixed FHA: 3.625% – .87 points, 3.75% – 0 points, 3.875% – $0 costs
30 year fixed VA: 4.25% – .15 points, 4.375% – 0 points, 4.625% – $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. Arizona refinance, California refinance, Colorado refinance. Scottsdale, Arizona Mortgage Banker in McCormick Ranch. 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 refinance mortgages, Conforming mortgages, Conventional Mortgages, 100% Financing Mortgage, High Balance Mortgages, Fannie Mae mortgages, Freddie Mac Mortgages, No appraisal refinance, 0 point mortgages, 0 closing cost mortgages, paying a point mortgages, Refinance mortgages, purchase mortgages, and Jumbo Mortgages.
MORTGAGE RATES MOVING UP FAST – MOUNTING SENTIMENT THAT FED WILL TAPER IN SEPTEMBER
