February 10th, 2014

Interest rate pricing was all over the place last week.  On Monday, interest rates hit their lowest levels in about 3 months.  Interest rates went higher the rest of the week until the January employment report was released on Friday.  For the third month straight, job creation was lower than forecasts.  This would normally cause a big movement for better interest rates but the improvement wasn’t as much as expected.

Overall on the week, the Mortgage Backed Security market traded lower – 6 bps.  When the dust settled, interest rate pricing remained in a narrow range and mortgage interest rates are basically where they were at the beginning of last Monday.

In 2014, interest rates have fallen at some of the fastest levels in the past 2 years.  The main reason is usually interest rate pricing fluctuates more going up and down, but interest rates have improved for 5 week straight weeks before last week. 

There is some concern that the lower trend has come to an end with the market not moving as much as expected with a poor employment report.  It’s tough to call right now, but I see interest rates remaining fairly stable for the time being.  There is still a limit to how much interest rates can really improve with the FED tapering.  The interest rates in the low 3%’s won’t be back, but you could see interest rates going a little bit lower than today’s levels.   

This week Janet Yellen will make her first testimony to Congress.  Not much new information is expected to be deemed from this testimony, but it will be her first time before Congress as the new FED Cheif.

Have a great week!!


15 Year Fixed at 3.5% with 0 points

7/1 ARM at 3.375% with 0 points


30 year fixed:     4.25% – .8 points,     4.5% – 0 points,     4.625% – $0 costs

20 year fixed:   4% – 1 point,     4.25% – 0 points,     4.375%  – $0 costs

15 year fixed:   3.375% – .38 points,     3.5% – 0 points,     3.625% – $0 costs

10 year fixed:   3% – .66 points,     3.25% – 0 points,     3.5% – $0 costs

5/1 ARM:   2.75% – 1 point,     3.125% – 0 points,     3.5% – $0 costs

7/1 ARM:    3.125% – .88 points,     3.375% – 0 points,     3.625% – $0 costs

30 year fixed FHA:     3.75% – .6 points,     3.875% – 0 points,     4.125% – $0 costs

15 year fixed FHA:    3.25% – 0 points     3.5% – $0 costs

30 year fixed VA:     3.75% – .42 points,    3.875% – 0 points,      4.125% – $0 costs

Today's Interest Rates - February 10th, 2014

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.  February 10th 2014 30 year fixed rates, February 11th 2014 30 year fixed rates, February 12th 2014 30 year fixed rates, February 13th 2014 30 year fixed rates, February 14th 2014 30 year fixed rates, February 15th 2014 30 year fixed rates, February 16th 2014 30 year fixed rates, February 17th 2014 30 year fixed rates.