Rates Rise with January Employment Report

Rates Rise with January Employment Report

February 11th, 2015

Interest rates have moved up about .125% in the past week – largely due to a mortgage backed security sell off on Friday after the January employment report was released.
The strong job creation numbers had investors move their money from bonds into stocks and interest rate pricing suffered as a consequence.

30 year fixed rates are now available at 3.625% paying .9 points (3.80% APR), and 3.875% paying 0 points (3.9% APR). 15 year fixed rates are now available at 2.875% paying .96 points (3.07% APR), and 3.125% paying 0 points (3.2% APR).   (for well qualified borrowers – 740+ credit score, 75% LTV or less)

Overall – concern over Greece and the employment numbers are weighing on interest rates and most experts I follow recommend locking over floating.

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

15 Year Fixed at 3.125% paying 0 points

TODAY’S INTEREST RATES:

30 year fixed:       3.625% – .9 points (3.8% APR),        3.875% – 0 points (3.9% APR)

20 year fixed:        3.5% – .69 points (3.63% APR),        3.625% – 0 points (3.64% APR)

15 year fixed:        2.875% – .96 points (3.07% APR),         3.125% – 0 points (3.13% APR)

10 year fixed:        2.75% – 1 point (2.95% APR),        3.0% – 0 points (3.05% APR)

5/1 ARM:       2.875% – .91 points (3.06% APR),         3.25% – 0 points (3.28% APR)

7/1 ARM:        3.125% – .72 points (3.26% APR),         3.375% – 0 points (3.4% APR)

30 year fixed FHA:      3.25% – 1 point (4.15% APR),         3.5% – 0 points (4.2% APR)

15 year fixed FHA:        2.75% – .45 points (3.14% APR),        2.875% – 0 points (3.175% APR)

30 year fixed VA:        3.375% – .64 points (3.5% APR),          3.5% – 0 points (3.55% APR)

Today's Interest Rates -February 11th, 2015

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Rates Rise with January Employment Report

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