Month: September 2013

INTEREST RATES CONTINUE HOT STREAK – 30 YEAR FIXED DOWN TO 4.125%

INTEREST RATES CONTINUE HOT STREAK   –   30 YEAR FIXED DOWN TO 4.125%

September 30th, 2013

Interest rates continued their hot streak since the FED decided not to taper a week and a half ago.  Interest rates improved 4 of the 5 days last week and interest rates are now at their lowest levels since June.

30 Year Fixed dropped to 4.125%, 20 year fixed to 4% and 15 year fixed to 3.25%.

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Now is a really good time to take advantage of the pricing drop as we don’t know how long this will last.  This will be a very volatile week with the Government shutdown looming and also the September employment report on Friday.

There is a lot of uncertainty coming our way.

Also just a reminder – FHA has reduced the waiting period to 1 year after a short sale, purchase and bankruptcy to qualify for a new loan.  Please contact me if you are 1 year out of one of these situations and would like to look into buying again.

Make it a great week!!

BEST VALUE OF THE WEEK:

30 Year Fixed at 4.375% paying 0 points

20 Year Fixed at 4.25% with $0 costs

15 Year Fixed at 3.375% paying 0 points

TODAY’S RATES:

30 year fixed:     4.25% – 1point,     4.375% – 0 points,     4.5% – $0 costs

20 year fixed:   4% – .71 points,     4.125% – 0 points,     4.25%  – $0 costs

15 year fixed:   3.25% – .77 points,     3.375% – 0 points,     3.625% – $0 costs

10 year fixed:   3% – .47 points,     3.125% – 0 points,     3.5% – $0 costs

5/1 ARM:   2.75% – .87 points,     3.125% – 0 points,     3.375% – $0 costs

7/1 ARM:    3.25% – .99 points,     3.625% – 0 points,     3.875% – $0 costs

30 year fixed FHA:    3.75% – 0 points,      4% – $0 costs

15 year fixed FHA:    3.25% – .28 points,     3.375% – 0 points,     3.625% – $0 costs

30 year fixed VA:     3.75% – .22 points,    3.875% – 0 points,     4.125% – $0 costs

Today's Interest Rates - September 30th, 2013

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.  September 30th interest rates, October 1st interest rates, October 2nd interest rates, October 3rd interest rates, October 4th interest rates, October 5th interest rates, October 6th interest rates.

INTEREST CONTINUE HOT STREAK   –   30 YEAR FIXED DOWN TO 4.125%

INTEREST RATES IMPROVE TO 6 WEEK LOWS

FED DOES NOT TAPER – INTEREST RATES IMPROVE TO 6 WEEK LOWS

September 23rd, 2013

The FED announced on Wednesday that they will not taper their bond purchasing program at the present time.  This announcement went against many market prognosticators, helping push rates to their lowest levels in 6 weeks – and near their lowest levels in 4 months. 

30 Year Fixed dropped to 4.25% and 15 year fixed dropped back below 3.5% to 3.375%.  ARMs did not move as much – 5/1 ARMs currently start at 2.875% and 7/1 ARMs start at 3.5% paying a point or less. 

house-interest-rateThe FED’s reasoning was that the economy had not shown enough to warrant reducing the stimulus.  If the FED did taper, everyone knew rates would go up very quickly.  This could be a change of tone/direction for the FED, possibly indicating that they feel that the higher interest rates of the past 4 months have already negatively affected the economy. 

Still there will be constant pressure on rate markets unless the FED announces they no longer will taper.  The FED meets again at the end of October, and made it clear that they could choose to taper at anytime.

Enjoy the lower rates while they are here – hopefully they will stay for longer than we expected.

Make it a great week!!   

BEST VALUE OF THE WEEK:               

15 Year Fixed at 3.5% paying 0 points

5/1 ARM at 3.375% paying 0 points

TODAY’S MORTGAGE INTEREST RATES:    

30 year fixed:     4.25% – .99 points,     4.5% – 0 points,     4.625% – $0 costs

20 year fixed:   4.125% – .59 points,     4.25% – 0 points,     4.5%  – $0 costs

15 year fixed:   3.375% – .81 points,     3.5% – 0 points,     3.75% – $0 costs

10 year fixed:   3% – .98 points,     3.25% – 0 points,     3.625% – $0 costs

5/1 ARM:   2.875% – 1 point,     3.375% – 0 points,     3.75% – $0 costs

7/1 ARM:    3.5% – .85 points,     3.75% – 0 points,     4.125% – $0 costs

30 year fixed FHA:    3.75% – .82 points,      4% – 0 points,     4.125% – $0 costs

15 year fixed FHA:    3.25% – .99 points,     3.625% – 0 points,     3.75% – $0 costs

30 year fixed VA:     4% – .14 points,    4.125% – 0 points,     4.25% – $0 costs

Today's Interest Rates - September 23rd, 2013

Interest Rates Improve to 6 Week Lows

FED DOES NOT TAPER!!! – INTEREST RATES WILL IMPROVE

FED DOES NOT TAPER   –   INTEREST RATES WILL IMPROVE.

September 18th, 2013

Big news today from the FED and the FOMC Meeting. 

The FED will NOT taper their bond purchasing program at the present time.  This has caused interest rates to improve with the MBS market currently trading up 126 basis points.

This improvement will help interest rates in the short term, though most believe the FED will still taper by the end of 2013. 

The FOMC meets again at the end of October.

If you would like an updated mortgage quote – please email rgreen@crosslinecapital.com the answers to the questions below:

-What are your objectives of a new loan – lower payment, cash out, purchase, pay off sooner, etc:

-Type of loan want – 30 year fixed, 5/1 ARM, etc:

-Full Address of property:

-Estimated Value of Home:

-Current Loan Amount (1st and 2nd separately if you have multiple mortgages):

-Do you want to escrow your taxes and insurance into your payment:

-Where are your credit scores:

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REGGIE GREEN / BRANCH MANAGER AT CROSSLINE CAPITAL  /  480-206-5577

Fed does not taper!!

INTEREST RATES IMPROVE – BIG FED STATEMENT ON WEDNESDAY

INTEREST RATES IMPROVE  –  BIG FED STATEMENT ON WEDNESDAY

September 16th, 2013

Interest rates improved last week with the Mortgage Backed Security market closing the week trading up + 33 bps.  The MBS market came out very strong on Monday with the MBS trading up over + 60 bps in the morning.  That has since lowered to just under + 30 bps at the time of this writing.

The MBS improvement improved rates by about .125% from my last update.  5/1 ARMs had the biggest improvement – improving about .375%.  30 year fixed par rates have lowered back to 4.5% and 15 year fixed are back down to 3.5%

The Monday rate improvement came about mainly because the market feels that the next Federal Reserve Board Chairman nominee will likely be Janet Yellen, who is less likely to taper the Fed’s Bond purchasing program immediately.  Even so, any tapering will likely take place before she is ever in office.

At 12:30 PM Eastern on Wednesday, the FED will release it’s policy statement which will include if the FED will taper their bond purchasing program.

If the FED decides to taper now, rates will likely go up in a hurry.

If the FED decides it will not taper now, we will likely see some moderate rate improvement. 

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To me, the risk is not worth the reward.  I am recommending to lock in any rates before Wednesday to avoid this volatility.  If rates do improve substantially after locking, float downs are available if rates go down far enough. 

Make it a great week!!                  

BEST VALUE OF THE WEEK:

30 Year Fixed at 4.625% with 0 points

TODAY’S RATES:

30 year fixed:     4.5% – .74 points,     4.625% – 0 points,     4.75% – $0 costs

20 year fixed:   4.25% – .81 points,     4.5% – 0 points,     4.625%  – $0 costs

15 year fixed:   3.5% – .78 points,     3.75% – 0 points,     3.875% – $0 costs

10 year fixed:   3.125% – 1 point,     3.5% – 0 points,     3.75% – $0 costs

5/1 ARM:   3% – 1 point,     3.5% – 0 points,     3.875% – $0 costs

7/1 ARM:    3.625% – .95 points,     4% – 0 points,     4.25% – $0 costs

30 year fixed FHA:    4.125% – .45 points,      4.25% – $0 costs

15 year fixed FHA:    3.5% – .74 points,     3.75% – $0 costs

30 year fixed VA:     4.25% – $0 costs

Today's Interest Rates - September 16th, 2013

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.

INTEREST RATES IMPROVE  –  BIG FED STATEMENT ON WEDNESDAY

INTEREST RATES REBOUND AFTER WILD WEEK

INTEREST RATES REBOUND AFTER WILD WEEK

September 9th, 2013

Interest rates moved to three year high’s on Thursday of last week, but recovered on Friday and Monday to bring levels close to where they were the previous week.

From Monday – Thursday, the Mortgage Backed Security market trading down -149 bps.  There was positive economic news in manufacturing, servicing, auto sales and most thought Friday’s employment numbers would surpass expectations. 

Then the Friday employment report hit.  Not only did Non Farm jobs come in below expectations, but they revised July’s numbers down 63,000.  The MBS market closed Friday + 74 bps, and closed this Monday + 40 bps. 

The big thing to watch this week is the Wednesday Congressional vote on whether to attack Syria.  Next week is the all important Fed meeting.

It looks like it will likely be another volatile week with interest rate swings common throughout each day.

Make it a great week!!      

BEST VALUE OF THE WEEK:            

5/1 ARM at 3.875% with 0 points

TODAY’S INTEREST RATES:

30 year fixed:     4.625% – .36 points,     4.75% – 0 points,     4.875% – $0 costs

20 year fixed:   4.375% – .99 points,     4.625% – 0 points,     4.75%  – $0 costs

15 year fixed:   3.625% – .63 points,     3.875% – 0 points,     4% – $0 costs

10 year fixed:   3.375% – 1 point,     3.625% – 0 points,     4% – $0 costs

5/1 ARM:   3.375% – .83 points,     3.875% – 0 points,     4.25% – $0 costs

7/1 ARM:    3.75% – .96 points,     4.125% – 0 points,     4.5% – $0 costs

30 year fixed FHA:    4.25% – 0 points,      4.375% – $0 costs

15 year fixed FHA:    3.625% – .94 points,     3.75% – 0 points,     4% – $0 costs

30 year fixed VA:     4.25% – 0 points,     4.375% – $0 costs

Today's Interest Rates - September 9th, 2013

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.

INTEREST RATES REBOUND AFTER WILD WEEK

INTEREST RATES STEADY / EMPLOYMENT REPORT THIS FRIDAY

INTEREST RATES STEADY    /    EMPLOYMENT REPORT THIS FRIDAY

September 3rd, 2013

I hope everyone had a safe and enjoyable Labor Day weekend!!

Interest rates improved 4 of the 5 business days last week.  The Mortgage Backed Security Market closed the week trading up + 22 bps.  Unfortunately, the small gains of last week have been taken back with the market trading down – 27 bps on Tuesday morning. 

The 2 big things in the news this week that could affect interest rates are:

SYRIA

THE AUGUST EMPLOYMENT REPORT

Last week, both John Kerry and President Obama reiterated that any action against Syria would likely not result in troops on the ground.  With the White House trying to garner support for a strike against Syria, it appears something will happen at this point.  The market will keep close attention and pricing will move based upon the implications of any strike on the economy.

The all important employment report is released on Friday.  Pay more attention to job creation hitting their forecasts versus the unemployment percentage.  This August employment report is particularly important because it is the last employment report before the FED meeting on September 18th.  Strong numbers will definitely help the cause of tapering the stimulus.

LOCK RECOMMENDATION:

I still believe it is too risky to float right now especially with the Fed meeting coming up fast.  Even when we have seen rate improvement over the past 2 weeks, the gains have been small.  I don’t see any situation where rates will improve significantly from current levels outside of the FED announcing an extension of the stimulus. 

Make it a great week!!   

BEST VALUE OF THE WEEK:   

10 Year Fixed at 3.125% with .96 points        

TODAY’S RATES:

30 year fixed:     4.5% – .54 points,     4.625% – 0 points,     4.75% – $0 costs

20 year fixed:   4.25% – .52 points,     4.5% – 0 points,     4.625%  – $0 costs

15 year fixed:   3.5% – .73 points,     3.625% – 0 points,     3.875% – $0 costs

10 year fixed:   3.125% – .96 points,     3.5% – 0 points,     3.75% – $0 costs

5/1 ARM:   3.25% – .87 points,     3.75% – 0 points,     4.25% – $0 costs

7/1 ARM:    3.75% – .79 points,     4.25% – 0 points

30 year fixed FHA:    4% – .92 points,      4.25% – $0 costs

15 year fixed FHA:    3.5% – .77 points,     3.75% – $0 costs

30 year fixed VA:     4.25% – $0 costs

Today's Interest Rates - September 3rd, 2013

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.

INTEREST RATES STEADY    /    EMPLOYMENT REPORT THIS FRIDAY