Rates Hit 1 Month Lows
October 7th, 2014
Interest rates continued to gradually move slower last week. The Mortgage Backed Security (MBS) market finished the week trading up + 45 bps – pushing interest rates in line with their lowest levels in a month.
On Friday, the September employment report was released. Job creation beat all expectations but the good news was interest rates stayed firm and the MBS market only closed down – 9 bps. This is an interesting development, as typically a strong labor report results in interest rates moving higher in a hurry.
The MBS market is also doing well this week, closing Monday up + 19 bps. Right now we are hitting a level of resistance in the bond market where over the past year – rates haven’t moved much lower than. This trading will likely continue unless a major event propels the bond market lower.
There is not a lot of economic data coming out this week – so interest rates should remain relatively stable for the rest of the week. 30 year fixed are currently at 4.125% paying .125 pts, and 15 year fixed are currently at 3.125% paying 1 point.
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Below are today’s interest rates. Have a great week!!
BEST VALUE OF THE WEEK:
30 Year Fixed at 4.25% paying 0 points
10 Year Fixed at 3.125% paying 0 points
TODAY’S INTEREST RATES:
30 year fixed: 4.125% – .125 points (4.145% APR), 4.25% – 0 points (4.28% APR)
20 year fixed: 3.875% – .75 points (3.89% APR), 4% – 0 points (4.05% APR)
15 year fixed: 3.125% – 1 point (3.32% APR), 3.5% – 0 points (3.52% APR)
10 year fixed: 3.0% – .5 points (3.1% APR), 3.125% – 0 points (3.13% APR)
5/1 ARM: 2.875% – .87 point (3.04% APR), 3.125% – 0 points (3.129% APR)
7/1 ARM: 3.125% – 1 point (3.32% APR), 3.375% – 0 points (3.39% APR)
30 year fixed FHA: 3.5% – .875 points (4.67% APR), 3.75% – 0 points (4.75% APR)
15 year fixed FHA: 3% – 1 point (3.5% APR), 3.25% – 0 points (3.55% APR)
30 year fixed VA: 3.625% – .875 points (3.76% APR), 3.75% – 0 points (3.82% 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, HARP 3.0 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 7th 2014 30 year fixed rates, October 8th 2014 30 year fixed rates, October 9th 2014 30 year fixed rates, October 10th 2014 30 year fixed rates, October 11th 2014 30 year fixed rates, October 12th 2014 30 year fixed rates, October 13th 2014 30 year fixed rates.
Rates Hit 1 Month Lows
