INTEREST RATES CONTINUE TO IMPROVE – 30 YEAR FIXED DOWN TO 4.125%

INTEREST RATES CONTINUE TO IMPROVE – 30 YEAR FIXED DOWN TO 4.125%

May 27th, 2014

Mortgage interest rates continue to slowly improve – currently at their lowest levels in 11 months.

The Mortgage Backed Security market closed Monday, May 27th, trading up + 15 bps. The MBS market closed up + 30 bps last week, and up + 40 bps the week before.
There are a few main reasons that interest rates are continuing to show improvement.

The Ukraine situation is still volatile and military conflict is a possibility. Investors seek safety through US treasuries and Mortgage Backed Securities which helps improve interest rates.

Some experts believe that the stock market is trading much higher than it should based upon the actual performance of the companies. Some hold the view that a large correction could be in the future, which increases investment into US treasuries and MBS.

Lastly, it is expected that the European Central Bank will add another stimulus next week – which like the US’s Quantitative Easing – is a positive for mortgage interest rates.

All of these situations are helping rates move lower, but most experts don’t believe rates will go much lower than they are right now. The market hasn’t allowed 30 year fixed rates to drop back into the 3%’s since they rapidly moved up 12 months ago when the FED said they would likely taper their stimulus package.

So we are in high risk, low reward situation. Rates may go a little bit lower, but it’s very unlikely they will drop below 4%. Most experts believe rates are going to move higher – the question is when it will happen. With rates being at their lowest levels in 11 months, I lean towards the safe side and recommend locking.

Last week, I missed my first weekly update in quite a few years. My wife Sarah and I welcomed our 2nd child into the world – Dylan Rose Green. She was born at 12:20 AM on May 19th. She is healthy and we are truly blessed to have 2 great kids.

Dylan

 

 

 

 

 

 

Dylan and Jack

 

 

 

 

 

For a free email mortgage quote, please go to the tab on the right 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 4.25% paying 0 points

5/1 ARM at 3% paying 0 points

TODAY’S INTEREST RATES:

30 year fixed:       4.125% – .46 points (4.215% APR),       4.25% – 0 points (4.27% APR)

20 year fixed:      3.875% – .73 points (4.02% APR),      4.125% – 0 points (4.13% APR)

15 year fixed:      3.25% – .65 points (3.38% APR),      3.375% – 0 points (3.41% APR)

10 year fixed:      3% – .6 points (3.12% APR),       3.25% – 0 points (3.28% APR)

5/1 ARM:       2.75% – .82 points (2.92% APR),       3% – 0 points (3.04% APR)

7/1 ARM:       3.125% – .82 points (3.28% APR),       3.375% – 0 points (3.4% APR)

30 year fixed FHA:       3.75% – 0 points (4.75% APR),

15 year fixed FHA:       3.125% – .51 points (3.525% APR),        3.25% – 0 points (3.55% APR)

30 year fixed VA:       3.75% – .20 points (3.79% APR),       3.875% – 0 points (3.89% APR)

Today's Interest Rates - May 27th, 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. May 27th 2014 30 year fixed rates, May 28th 2014 30 year fixed rates, May 29th 2014 30 year fixed rates, May 3oth 2014 30 year fixed rates, June 1st 2014 30 year fixed rates, June 2nd 2014 30 year fixed rates, June 3rd 2014 30 year fixed rates.

INTEREST RATES CONTINUE TO IMPROVE – 30 YEAR FIXED DOWN TO 4.125%

 

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