RATES HIT LOWEST LEVELS ON THURSDAY – RECOMMEND LOCKING
May 12th, 2014
Interest rates bottomed out on Thursday of last week. Since Thursday – interest rates have seen a market correction the other way – pushing interest rates a bit higher on Friday and Monday.
The Mortgage Backed Security (MBS) market closed the week down – 11 bps, but actually finished the week positive when we account for the monthly rollover of – 27 bps. The MBS closed Monday trading down -12 bps.
The MBS market is still trading in the lower portion of the trading range, meaning interest rates are the lowest they’ve been in some time, and they are unlikely to go much lower without a significant market event.
Without the likelihood of rates going much lower, I would highly recommend locking as I think interest rates will likely move up from here.
For a free email mortgage quote, please email me the questions at the bottom of this newsletter to rpgj80@hotmail.com or go to http://www.freemortgagequote.biz.
Below are today’s interest rates – have a wonderful week!!
BEST VALUE OF THE WEEK:
30 Year Fixed at 4.375% paying 0 points
20 Year Fixed at 4.125% paying 0 points
TODAY’S INTEREST RATES:
30 year fixed: 4.25% – .29 points (4.31% APR), 4.375% – 0 points (4.4% APR)
20 year fixed: 4% – .62 points (4.12% APR), 4.125% – 0 points (4.16% APR)
15 year fixed: 3.375% – .48 points (3.475% APR), 3.5% – 0 points (3.53% APR)
10 year fixed: 3% – .88 points (3.17% APR), 3.25% – 0 points (3.29% APR)
5/1 ARM: 2.75% – .97 points (2.97% APR), 3.125% – 0 points (3.16% APR)
7/1 ARM: 3.125% – .55 points (3.25% APR), 3.375% – 0 points (3.4% APR)
30 year fixed FHA: 3.75% – .55 points (4.32% APR), 3.875% – 0 points (4.42% APR)
15 year fixed FHA: 3.25% – 0 points (3.6% APR)
30 year fixed VA: 3.75% – .30 points (3.1% APR), 3.875% – 0 points (3.9% APR)
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. May 12th 2014 30 year fixed rates, May 13th 2014 30 year fixed rates, May 14th 2014 30 year fixed rates, May 15th 2014 30 year fixed rates, May 16th 2014 30 year fixed rates, May 17th 2014 30 year fixed rates, May 18th 2014 30 year fixed rates.
RATES HIT LOWEST LEVELS ON THURSDAY – RECOMMEND LOCKING
