Month: November 2014

Interest Rates Improve to 1 Month Lows!

Interest Rates Improve to 1 Month Lows!

November 25th, 2014

Interest rates slowly but steadily improved last week. The Mortgage Backed Security (MBS) market finished trading up + 27 bps, pushing interest rate pricing to the lowest levels in a month.

A 30 year fixed conventional loan can now be locked at 3.875% with less than a point, and a 15 year fixed conventional rate at 3% with less than a point. 5/1 and 7/1 ARMs are still in the same area they have been for some time – with rates available at 2.875% and 3.125% paying less than a point.

Much of the focus of the markets is on the European Central Bank (ECB). There is much speculation that the ECB will increase their asset purchasing (quantitative easing) at their next meeting on December 4th. Interest rates are improving in anticipation of this.

The Tuesday and Wednesday before Thanksgiving can be very volatile with fewer traders and people getting ready to leave for the Holidays. Now is still a great time to lock in with rates being at their lowest level in a month.

For a free email mortgage quote, please answer questions on the right or go to http://www.freemortgagequote.biz

Below are today’s interest rates. Have a great week and Happy Thanksgiving!!

BEST VALUE OF THE WEEK:

20 Year Fixed at 3.75% paying 0 points

15 Year Fixed at 3.25% paying 0 points

TODAY’S INTEREST RATES:

30 year fixed:     3.875% – .625 points (4.0% APR),       4% – 0 points (4.04% APR)

20 year fixed:      3.625% – .75 points (3.775% APR),       3.75% – 0 points (3.79% APR)

15 year fixed:       3% – .875 points (3.175% APR),        3.25% – 0 points (3.29% APR)

10 year fixed:       2.75% – .875 points (2.925% APR),        3.125% – 0 points (3.17% APR)

5/1 ARM:       2.875% – .875 points (3.05% APR),        3.25% – 0 points (3.28% APR)

7/1 ARM:       3.125% – .875 points (3.3% APR),       3.375% – 0 points (3.39% APR)

30 year fixed FHA:       3.375% – .875 points (4.55% APR),        3.625% – 0 points (4.625% APR)

15 year fixed FHA:         2.875% – .75 points (3.325% APR),        3.125% – 0 points (3.425% APR)

30 year fixed VA:        3.5% – .375 points (3.57% APR),         3.625% – 0 points (3.67% APR)

Today's Interest Rates - November 25th, 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, 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. November 25th 2014 30 year fixed rates, November 26th 2014 30 year fixed rates, November 27th 2014 30 year fixed rates, November 28th 2014 30 year fixed rates, November 29th 2014 30 year fixed rates, November 30th 2014 30 year fixed rates, December 1st 2014 30 year fixed rates.

Interest Rates Improve to 1 Month Lows!

RATES HOLD STEADY

RATES HOLD STEADY

November 18th, 2014

Interest rates have been very steady for the past week with the Mortgage Backed Security (MBS) market closing last week even and slightly higher on Monday.

This continues the trend of mortgage rates moving sideways/slightly lower for most of November 2014.

Although this isn’t great news for rate watchers, it beats the end of October where rates were steadily moving higher.

I expect interest rates to remain stable for the rest of the week.

For a free email mortgage quote, please answer questions on the right or go to http://www.freemortgagequote.biz

Below are today’s interest rates. Have a great week!!

BEST VALUE OF THE WEEK:

30 Year Fixed at 4% paying 0 points

15 Year Fixed at 3.25% paying 0 points

TODAY’S INTEREST RATES:

30 year fixed:     3.875% – .75 points (4.025% APR),       4% – 0 points (4.05% APR)

20 year fixed:       3.625% – 1 point (3.825% APR),        3.875% – 0 points (3.9% APR)

15 year fixed:       3% – 1 point (3.2% APR),       3.25% – 0 points (3.29% APR)

10 year fixed:        2.75% – 1 point (2.975% APR),         3% – 0 points (3.04% APR)

5/1 ARM:        2.875% – .75 points (3.025% APR),         3.125% – 0 points (3.128% APR)

7/1 ARM:        3.125% – .75 points (3.27% APR),         3.375% – 0 points (3.39% APR)

30 year fixed FHA:        3.375% – .875 points (4.55% APR),          3.625% – 0 points (4.625% APR)

15 year fixed FHA:        2.875% – .875 points (3.35% APR),         3.125% – 0 points (3.425% APR)

30 year fixed VA:        3.5% – .5 points (3.6% APR),        3.625% – 0 points (3.69% APR)
Today's Interest Rates - November 17th, 2014

Rates Hold Steady

Rates Improve after Employment report , The Return of the No Appraisal Refinance

RATES IMPROVE AFTER EMPLOYMENT REPORT

November 10th, 2014

Interest rates improved to 1.5 week lows after October’s employment report was released on Friday. Non Farm Payroll jobs increased 214,000 in October but were lower than expectations of 235,000 plus. The Mortgage Backed Security (MBS) market closed up + 46 bps on Friday alone – taking back the losses from earlier in the week and closing the week positive + 25 bps.

On Monday the bond market pulled back taking some of the gains from Friday – closing down -31 bps on the Day. The bond Market is closed for Veterans day. Thank you to all the Veterans out there that have served our country.

Interest rates are very similar to where they started last week. Retail sales will be the biggest report of the week on Friday.

For a free email mortgage quote, please answer questions on the right or go to http://www.freemortgagequote.biz

Below are today’s interest rates. Have a great week!!

THE RETURN OF THE NO APPRAISAL REFINANCE

With Fannie Mae’s new version of their underwriting system DU – mortgage bankers and their clients are seeing a welcome change in the return of the PIW

PIW stands for Property Inspection Waiver.

When running a Fannie Mae Approval – sometimes Fannie Mae’s system grants a PIW which allows us to complete the loan without getting an actual appraisal.  These No appraisal refinances are not for upside down homes, lower credit borrowers, cash out loans, etc.  They are typically granted when there is a decent amount of equity based on average prices in the area and they are usually granted for higher credit score borrowers.

The purpose is to allow someone that has equity and great credit to get a loan without having to physically get an appraisal. 

This is a welcome return – as it allows well qualified customers to complete a refinance without an out pocket expense and we can usually close the loan very quickly.

BEST VALUE OF THE WEEK:

30 Year Fixed at 4.125% paying 0 points

5/1 ARM at 3.125% paying 0 points

TODAY’S INTEREST RATES:

30 year fixed:       4% – .25 points (4.05% APR),        4.125% – 0 points (4.15% APR)

20 year fixed:       3.625% – 1 points (3.72% APR),        3.875% – 0 points (3.78% APR)

15 year fixed:       3.125% – .625 points (3.24% APR),        3.375% – 0 points (3.38% APR)

10 year fixed:       2.875% – .875 points (3.0% APR),        3.125% – 0 points (3.13% APR)

5/1 ARM:       2.875% – .75 points (3.025% APR),        3.125% – 0 points (3.128% APR)

7/1 ARM:       3.125% – .875 points (3.28% APR),        3.375% – 0 points (3.39% APR)

30 year fixed FHA:        3.5% – .375 points (4.58% APR),         3.625% – 0 points (4.625% APR)

15 year fixed FHA:        2.875% – 1 point (3.375% APR),        3.125% – 0 points (3.425% APR)

30 year fixed VA:        3.5% – .625 points (3.62% APR),        3.75% – 0 points (3.78% APR)

Today's Interest Rates - November 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, 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. November 10th 2014 30 year fixed rates, November 11th2014 30 year fixed rates, November 12th 2014 30 year fixed rates, November 13th 2014 30 year fixed rates, November 14th 2014 30 year fixed rates, November 15th 2014 30 year fixed rates, November 16th 2014 30 year fixed rates.

Rates Improve after Employment report – but then pull back

Rates slowly rise after hitting lowest levels of the year

Rates slowly rise after hitting lowest levels of the year

November 2nd, 2014

Since rates hit their lowest levels since June of 2013 two to three weeks ago, interest rates have slowly drifted higher. The Mortgage Backed Security market (MBS) closed last week trading down -17 bps, and the previous week down – 15 bps. This is a common reaction when rates go quickly one way, there is usually a pull back the other way.  Even with the rise in rates, interest rates are still lower than they have been for a long time before the recent drop.

On Friday, Japan announced a large increase in their quantitative easing program – equivalent to over 720 billion in US dollars. This caused stocks to rise, but the MBS market, which normally would be hit hard by this news, only closed down – 6 bps. This shows that the current level of mortgage interest rates is quite strong. 

Interest rates will be tested again this week. On Thursday, The European Central Bank will release a policy statement. On Friday – the US employment report will be released for October.  If you are looking for safety, I would lock rates before Thursday.

For a free email mortgage quote, please answer questions on the right or go to http://www.freemortgagequote.biz

Below are today’s interest rates. Have a great week!!

BEST VALUE OF THE WEEK:

20 Year Fixed at 3.75% paying 0 points

5/1 ARM at 3.125% paying 0 points

TODAY’S INTEREST RATES:

30 year fixed:      4% – .25 points (4.05% APR),       4.125% – 0 points (4.15% APR)

20 year fixed:       3.625% – .875 points (3.7% APR),       3.75% – 0 points (3.78% APR)

15 year fixed:       3.125% – .625 points (3.24% APR),       3.375% – 0 points (3.38% APR)

10 year fixed:       2.875% – .875 points (3.0% APR),       3.125% – 0 points (3.13% APR)

5/1 ARM:       2.875% – .75 points (3.025% APR),        3.125% – 0 points (3.128% APR)

7/1 ARM:        3.125% – .875 points (3.28% APR),         3.375% – 0 points (3.39% APR)

30 year fixed FHA:        3.375% – 1 point (4.575% APR),        3.625% – 0 points (4.625% APR)

15 year fixed FHA:        2.875% – 1 point (3.375% APR),         3.125% – 0 points (3.425% APR)

30 year fixed VA:        3.5% – .625 points (3.62% APR),           3.625% – 0 points (3.67% APR)

Today's Interest Rates - November 2nd, 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, 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 slowly rise after hitting lowest levels of the year