HOLIDAY INTEREST RATE SPECIAL

HOLIDAY INTEREST RATE SPECIAL

November 25th, 2013

In order to drum up business for the end of the year, My company is offering the following Holiday Rate Special:

.5 point discount on – Conventional, FHA, and VA loans

.25 point discount on – High Balance Conforming Loan

This special is available for loans locked and appraisals ordered by the 1st week of December.

This is one of the best deals on the market – please contact me if you would like to take advantage of this Holiday Special before it’s gone.

holidyINTEREST RATE MOVEMENT

Interest rate pricing rose quite a bit last week through Wednesday – hitting some of the highest levels in the past 2 months after a 2 day bond sell off. Fortunately, the Mortgage Backed Security market rebounded on Thursday and Friday – closing the week with rates rising close to .125% from the week before.

I don’t expect a lot of movement this week with the Holiday.

Have a Safe and Happy Thanksgiving. Go Lions!!

BEST VALUE OF THE WEEK:

10 Year Fixed at 3.125% with 0 points

5/1 ARM at 2.875% with 0 points

TODAY’S RATES:

30 year fixed:   4.25% – .21 points, 4.375% – 0 points, 4.5% – $0 costs

20 year fixed:   4% – .53 points, 4.125% – 0 points, 4.25% – $0 costs

15 year fixed:   3.25% – .73 points, 3.375% – 0 points, 3.5% – $0 costs

10 year fixed:   2.875% – 1 point, 3.125% – 0 points, 3.5% – $0 costs

5/1 ARM:    2.5% – .89 points, 2.875% – 0 points, 3.125% – $0 costs

7/1 ARM:     3% – .66 points, 3.25% – 0 points, 3.5% – $0 costs

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

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

30 year fixed VA:   3.75% – .37 points, 3.875% – 0 points, 4.125% – $0 costs

Today's Interest Rates - November 25th, 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. McCormick Ranch Loan Officer. 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.

HOLIDAY INTEREST RATE SPECIAL

INTEREST RATES IMPROVE FOR FOUR STRAIGHT DAYS

INTEREST RATES IMPROVE FOR FOUR STRAIGHT DAYS

November 18th, 2013

After a steep rise following the October employment report – mortgage interest rates got an unexpected boost from the confirmation hearing of Janet Yellen – the nominee to replace Ben Bernanke as the FED chief.

In prepared remarks – Janet Yellen reiterated her belief that the FED should continue to use it’s monetary tools to aid the economic recovery. Her belief is that although the economy has improved, it is still not where it needs to be and the FED should continue to support the recovery.

This is big news. I believed that interest rates were going to continue to go higher through most of November due to the higher than forecast October employment report. Rates are now back to the levels before the employment report – with rates improving for the 4th straight day on Monday.

The longer the markets believe the FED will delay bond tapering, the longer interest rates will stay at current levels or possibly improve slightly. Unless the FED announces a set plan to purchase bonds for a longer period of time, interest rates can only improve so much.

Good time to lock in again with interest rates improving for 4 straight days. The FED minutes will be released on Wednesday, November 20th, which should give us more insight on the direction of the FED and a possible taper with it’s December meeting.

Make it a great week!!

BEST VALUE OF THE WEEK:

20 Year Fixed 4.125% with 0 points

10 Year Fixed at 3.125% with 0 points

TODAY’S RATES:

30 year fixed:      4.125% – 1 point,      4.375% – 0 points,      4.5% – $0 costs

20 year fixed:      4% – .27 points,      4.125% – 0 points,      4.25% – $0 costs

15 year fixed:      3.25% – .75 points,      3.375% – 0 points,      3.5% – $0 costs

10 year fixed:      2.875% – 1 point,      3.125% – 0 points,      3.5% – $0 costs

5/1 ARM:      2.625% – .75 points,       2.875% – 0 points,       3.25% – $0 costs

7/1 ARM:      3% – .90 points,      3.25% – 0 points,       3.5% – $0 costs

30 year fixed FHA:      3.75% – .0 points,      3.875% – $0 costs

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

30 year fixed VA:      3.75% – .35 points,      3.875% – 0 points,       4.125% – $0 costs

Today's Interest Rates - November 18th, 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. McCormick Ranch Loan Officer. 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 FOR FOUR STRAIGHT DAYS

OCTOBER EMPLOYMENT REPORT CAUSES SHARP RISE IN INTEREST RATES

OCTOBER EMPLOYMENT REPORT CAUSES SHARP RISE IN INTEREST RATES

November 11th, 2013

Happy Veteran’s Day!!  Thank you to all of our men and women who have served in the Military.

Mortgages rates ended the week sharply higher with the release of the October employment report on Friday.  Non Farm job creation crushed expectations causing a sell-off in the Mortgage Backed Security market of over 100 bps.

new job

Positive economic news from the employment report, US 3rd quarter GDP, and ISM manufacturing is causing more pricing pressure and thoughts that the FED could taper their stimulus package sooner. 

Unfortunately, the employment report usually shapes the monthly trend of interest rates.  I think rates will likely slowly rise during the month of November. 

I would recommend locking pricing if you are in the market for a mortgage.

FMAE CHANGES COMING THIS WEEKEND

Fannie Mae is implementing a new underwriting system this weekend.  The highlights of the guideline changes are:

-No more interest only loans.  I have to lock any new interest only loans by Wednesday, so if you want one – please call me asap.

-Maximum LTV going from 95% to 97%

-FMAE HARP loans no longer will require the waiting period required for Forclosures, Bankruptcies and Short sales

Make it a great week!!

BEST VALUE OF THE WEEK:

20 Year Fixed 4.25% with 0 points

7/1 ARM at 3.375% 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% – .83 points,     4.25% – 0 points,     4.5%  – $0 costs

15 year fixed:   3.375% – .51 points,     3.5% – 0 points,     3.625% – $0 costs

10 year fixed:   3.125% – .83 points,     3.5% – 0 points,     3.625% – $0 costs

5/1 ARM:   2.625% – 1 point,     3% – 0 points,     3.25% – $0 costs

7/1 ARM:    3.125% – .75 points,     3.375% – 0 points,     3.625% – $0 costs

30 year fixed FHA:     3.75% – .61 points,     4% – 0 points,     4.125% – $0 costs

15 year fixed FHA:    3.25% – .10 points,     3.375% – 0 points,     3.5% – $0 costs

30 year fixed VA:     4% – .5 points,    4.25% – $0 costs

Today's Interest Rates - November 11th, 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.  McCormick Ranch Loan Officer.  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.

OCTOBER EMPLOYMENT REPORT CAUSES SHARP RISE IN INTEREST RATES

THE FED DOES NOT TAPER , BUT RATES RISE SLIGHTLY

THE FED DOES NOT TAPER , BUT RATES RISE SLIGHTLY

November 4th, 2013

Mortgage rates ended last week slightly higher, but have improved on Monday taking some of the losses back.

On Wednesday, the FED announced that they would not taper their bond purchasing program. Most did not expect the FED to taper, so this wasn’t a huge surprise. The FED did take out some verbiage in their statement though, which caused some MBS investors to sell off. Normally we would expect rates to improve with this announcement, but that did not happen. The FED will meet again in December.

We have a big week in rate effecting news this week. The Third Quarter US GDP will be released Thursday and the October 2013 Employment report will come out Friday. The employment report will be very important for the direction of interest rates over the next month. If job creation is lower than expected, rates will improve. If job creation is above expectations, expect rates to rise.

Make it a great week!!

BEST VALUE OF THE WEEK:

30 Year Fixed at 4.25% with 0 points
5/1 ARM at 2.875% with 0 points

TODAY’S RATES:

30 year fixed:     4.125% – .74 points,     4.25% – 0 points,     4.5% – $0 costs
20 year fixed:     4% – .78 points,      4.125% – 0 points,     4.25% – $0 costs
15 year fixed:     3.25% – .76 points,     3.375% – 0 points,     3.5% – $0 costs
10 year fixed:      3% – .74 points,      3.375% – 0 points,      3.5% – $0 costs
5/1 ARM:      2.625% – .76 points,      2.875% – 0 points,      3.125% – $0 costs
7/1 ARM:      3% – .91 points,      3.25% – 0 points,     3.5% – $0 costs
30 year fixed FHA:     3.75% – $0 costs
15 year fixed FHA:      3.25% – 0 points, 3.5% – $0 costs
30 year fixed VA:      3.75% – 0 points, 4% – $0 costs
Today's Interest Rates - November 4th, 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.  November 4th interest rates, November 5th interest rates, November 6th interest rates, November 7th interest rates, November 8th interest rates, November 9th interest rates, November 10th interest rates, November 11th interest rates

THE FED DOES NOT TAPER , BUT RATES RISE SLIGHTLY

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