2015

Rates Improve, New FHA MI Premiums official on 1/26/2015

January 26th, 2015

Interest rates slightly improved last week and so far this week, with the Mortgage Backed Security (MBS) market trading higher – thus improving the cost to get each rate.

30 year fixed rates are now available at 3.5% paying 1 point (3.7% APR), and 3.75% paying 0 points (3.74% APR). 15 year fixed rates are now available at 2.875% paying .75 points (3.025% APR), and 3.125% paying 0 points (3.129% APR).

The market appears to be in an idle state with investors still sifting through last week’s announcement by the European Central Bank (ECB). The focus is and will continue to be on Europe in the markets that effect mortgage interest rates.

On 1/26/2015 – FHA officially lowered their mortgage insurance premiums – thus giving a spark to FHA streamline refinances. If you are in a 30 Year Fixed FHA loan, a 20 Year Fixed FHA Loan or an ARM FHA Mortgage – it will likely be worth it to streamline the existing loan to a lower payment with no appraisal/income documentation required.

The changes taking place are below for Terms over 15 years.

95% LTV or less: FHA MI was 130 bps , now it is 80 bps
95.01% and above: FHA MI was 135 bps, now it is 85 bps

For FHA loans over $625,500

95% LTV or less: FHA MI was 150 bps , now it is 100 bps
95.01% and above: FHA MI was 155 bps, now it is 105 bps

To get your new FHA MI Premium – take your loan amount and multiply it times the bps figure and divide by 12 to get a new monthly FHA MI premium.

EXAMPLE:

$200,000 loan at 90% LTV.

$200,000 x .8% = $1,600 Yearly FHA MI premium
$1,600 / 12 = $133.33 Monthly FHA MI premium
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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 3.625% paying 0 points

10 Year Fixed at 3.0% paying 0 points

TODAY’S INTEREST RATES:

30 year fixed: 3.5% – 1 point (3.7% APR), 3.75% – 0 points (3.74% APR)

20 year fixed: 3.5% – .125 points (3.525% APR), 3.625% – 0 points (3.64% APR)

15 year fixed: 2.875% – .75 points (3.025% APR), 3.125% – 0 points (3.129% APR)

10 year fixed: 2.75% – .75 points (2.9% APR), 3.0% – 0 points (3.05% APR)

5/1 ARM: 2.875% – .75 points (3.05% APR), 3.25% – 0 points (3.28% APR)

7/1 ARM: 2.875% – .75 points (3.075% APR), 3.25% – 0 points (3.29% APR)

30 year fixed FHA: 3.25% – .25 points (4.0% APR), 3.375% – 0 points (3.42% APR)

15 year fixed FHA: 2.75% – .25 points (3.2% APR), 3.0% – 0 points (3.3% APR)

30 year fixed VA: 3.25% – .5 points (3.35% APR), 3.375% – 0 points (3.4% 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. January 27th 2015 30 year fixed rates, January 28th 2015 30 year fixed rates, January 29th 2015 30 year fixed rates, January 30th 2015 30 year fixed rates, January 31st 2015 30 year fixed rates, February 1st 2015 30 year fixed rates, February 2nd 2015 30 year fixed rates.

Rates Improve, New FHA MI Premiums official on 1/26/2015

Another Great Year in 2014 – $42,480,672 in Funded Volume

Another Great Year in 2014 – $42,480,672 in Funded Volume.

Thanks to:

My wife and family for supporting me

My processor Jolyn for always going to bat for me and my clients

All my managers, underwriters, and transaction coordinators who help my loans move forward,

And most importantly all my clients for trusting me to work on their loans.

I hope 2015 is even better.

Another Great Year in 2014 – $42,480,672 in Funded Volume

INCREASED VOLATILITY IN INTEREST RATES , BIG ANNOUNCEMENT ON 1/22

Increased Volatility in Interest Rates , Big announcement on 1/22

January 21st, 2015

Interest rates have been very volatile with a flood of financial news hitting the markets.

The Mortgage Backed Security Market (MBS that has a large effect on interest rates) closed last week + 24 bps – but was marked by large swings especially on Friday – closing down -92 bps. So far this week the MBS market is trading down – 10 bps.

Overall, interest rates are slightly higher than last week. 30 year fixed rates are now available at 3.625% with a portion of a point, and 3.75% with 0 points. 15 year fixed rates are now available at 2.875% paying a portion of a point, and 3.125% paying 0 points.

The big news comes tomorrow with an expected European Central Bank (ECB) announcement of a market stimulus. If the amount of the stimulus is higher than what is expected, we could see a rise in rates.

With all this volatility, I feel the safest thing is to lock unless you want large pricing changes to your potential loan scenario on a daily basis.

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 3.75% paying 0 points

7/1 ARM at 3.25% paying 0 points

TODAY’S INTEREST RATES:

30 year fixed: 3.625% – .375 points (3.7% APR), 3.75% – 0 points (3.78% APR)

20 year fixed: 3.5% – .125 points (3.525% APR), 3.625% – 0 points (3.64% APR)

15 year fixed: 2.875% – .75 points (3.025% APR), 3.25% – 0 points (3.29% APR)

10 year fixed: 2.625% – 1 point (2.825% APR), 3.0% – 0 points (3.05% APR)

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

7/1 ARM: 3.0% – .75 points (3.15% APR), 3.25% – 0 points (3.29% APR)

30 year fixed FHA: 3.25% – .625 points (3.975% APR), 3.375% – 0 points (3.975% APR)

15 year fixed FHA: 2.75% – .375 points (3.075% APR), 2.875% – 0 points (3.1% APR)

30 year fixed VA: 3.25% – .875 points (3.42% APR), 3.5% – 0 points (3.55% 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. January 21st 2015 30 year fixed rates, January 22nd 2015 30 year fixed rates, January 23rd 2015 30 year fixed rates, January 24th 2015 30 year fixed rates, January 25th 2015 30 year fixed rates, January 26th 2015 30 year fixed rates, January 27th 2015 30 year fixed rates.

INCREASED VOLATILITY IN INTEREST RATES , BIG ANNOUNCEMENT ON 1/22

Rates Continue Rapid Drop , 30 Year Fixed to 3.5%

Rates Continue Rapid Drop , 30 Year Fixed to 3.5%

January 14th, 2015

Interest rates continued their rapid decline with rate improvement 6 of the past 8 days.

30 Year Fixed rates are now at 3.5% paying 1 point and 3.625% paying 0 points. 15 year fixed rates are now at 2.875% paying .5 points and 3% paying 0 points.

The drop in rates is mostly due to the lower than expected economic numbers coming out. Experts continue to lower their economic forecasts and most of the world is hurting outside of the US economy.

Now is a great time to lock with rates being the lowest I’ve seen them in almost 2 years.

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 3.625% paying 0 points

15 Year Fixed at 3.0% paying 0 points

TODAY’S INTEREST RATES:

30 year fixed: 3.5% – 1 point (3.7% APR), 3.625% – 0 points (3.72% APR)

20 year fixed: 3.375% – .25 points (3.425% APR), 3.5% – 0 points (3.57% APR)

15 year fixed: 2.875% – .5 points (2.975% APR), 3.0% – 0 points (3.02% APR)

10 year fixed: 2.5% – 1 point (2.7% APR), 2.875% – 0 points (2.88% APR)

5/1 ARM: 2.625% – 1 point (2.875% APR), 3.0% – 0 points (3.04% APR)

7/1 ARM: 2.875% – .875 points (3.05% APR), 3.125% – 0 points (3.15% APR)

30 year fixed FHA: 3.25% – 0 points (4.25% APR)

15 year fixed FHA: 2.75% – .125 points (3.06% APR), 2.875% – 0 points (3.175% APR)

30 year fixed VA: 3.25% – .125 points (3.27% APR), 3.375% – 0 points (3.4% 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. January 14th 2014 30 year fixed rates, January 15th 2014 30 year fixed rates, January 16th 2014 30 year fixed rates, January 17th 2014 30 year fixed rates, January 18th 2014 30 year fixed rates, January 19th 2014 30 year fixed rates, January 20th 2014 30 year fixed rates.

Rates Continue Rapid Drop , 30 Year Fixed to 3.5%

Rates Improve for 7 Straight Days

Rates Improve for 7 Straight Days

January 5th, 2015

Interest rates are on quite the hot streak lately – improving 7 days straight.

The Mortgage Backed Security (MBS) market is currently trading up + 123 bps over that period time – pushing rates to their lowest levels in a long time.

With rates going one way for a long period of time – there is bound to be a correction soon – so I would recommend locking soon.

30 Year Fixed rates are now at 3.625% with .875 points, and 3.75% with 0 points. 15 year fixed rates are at 3% with .375 points, or 3.125% with 0 points.

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 3.75% paying 0 points

20 Year Fixed at 3.625% paying 0 points

TODAY’S INTEREST RATES:

30 year fixed: 3.625% – .875 points (3.8% APR), 3.75% – 0 points (3.81% APR)

20 year fixed: 3.5% – .25 points (3.55% APR), 3.625% – 0 points (3.66% APR)

15 year fixed: 3.0% – .375 points (3.07% APR), 3.125% – 0 points (3.15% APR)

10 year fixed: 2.625% – 1 point (2.825% APR), 3.0% – 0 points (3.05% APR)

5/1 ARM: 2.875% – 1 point (3.075% APR), 3.25% – 0 points (3.29% APR)

7/1 ARM: 3.125% – .75 points (3.27% APR), 3.375% – 0 points (3.4% APR)

30 year fixed FHA: 3.25% – .5 points (4.35% APR), 3.375% – 0 points (4.375% APR)

15 year fixed FHA: 2.75% – .75 points (3.3% APR), 3% – 0 points (3.35% APR)

30 year fixed VA: 3.25% – .75 points (3.4% APR), 3.5% – 0 points (3.53% 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. January 5th 2014 30 year fixed rates, January 6th 2014 30 year fixed rates, January 7th 2014 30 year fixed rates, January 8th 2014 30 year fixed rates, January 9th 2014 30 year fixed rates, January 10th 2014 30 year fixed rates, January 11th 2014 30 year fixed rates.

Rates Improve for 7 Straight Days