Interest Rates Improve Slightly After August Jobs Report, FED meeting 10 Days Away

September 2015

Happy Labor Day!!

Interest rates improved slightly last week with the Mortgage Backed Security (MBS) market closing up + 16 bps for the week. This was welcome news after interest rates drifted higher the week before after hitting 3 month lows.

30 year fixed rates are now available at 3.875% paying .81 points (4.03% APR), and 4.125% paying 0 points (4.17% APR). 15 year fixed rates are now available at 3.125% paying .47 point (3.21% APR), and 3.25% paying 0 points (3.29% APR). **Priced with 740+ credit score, rate and term refinance at 75% LTV**

The big news last week was the August Jobs report released on Friday. Job creation was at the lowest level in 5 months but the previous 2 months numbers were adjusted higher. Unemployment fell to 5.1%. Although unemployment falling is a positive – the reality is 90% of consumers still have less disposable income than they did before the 2008 financial crisis and many of the jobs people have are jobs they really don’t want.

On 9/17 – the Federal Open Market Committee (FOMC) will decide if they want to raise the Federal Funds rate. With signs of weakness still prevalent in the US economy and the global economy declining – I don’t think they will raise the Federal Funds rate but at this point no one knows.

 

 

 

 

 

 

 

We are still in a very volatile time with uncertainty in the US and global markets.

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

TODAY’S INTEREST RATES:

30 year fixed:       3.875% – .81 points (4.03% APR),       4.125% – 0 points (4.17% APR)

20 year fixed:       3.625% – .96 points (3.81% APR),       3.875% – 0 points (3.9% APR)

15 year fixed:       3.125% – .47 points (3.21% APR),        3.25% – 0 points (3.29% APR)

10 year fixed:        2.75% – .95 points (2.94% APR),         3.0% – 0 points (3.04% APR)

5/1 ARM:        3.0% – .8 points (3.16% APR),         3.375% – 0 points (3.4% APR)

7/1 ARM:         3.25% – .81 points (3.41% APR),         3.625% – 0 points (3.66% APR)

30 year fixed FHA:        3.625% – .88 points (4.5% APR),         3.75% – 0 points (4.55% APR)

15 year fixed FHA:        3.0% – 1 point (3.5% APR),         3.375% – 0 points (3.67% APR)

30 year fixed VA:         3.75% – 0 points (3.79% APR)

Today’s Mortgage Interest Rates. Current Mortgage Interest Rates and APRs for refinancing and purchasing in Arizona, California, Colorado, Washington, and Virginia. Arizona Home Loans, California Home Loans, Colorado Home Loans, Washington Home loans, Virginia 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. September 7th 2015 30 year fixed rates, September 8th 2015 30 year fixed rates, September 9th 2015 30 year fixed rates, September 10th 2015 30 year fixed rates, September 11th 2015 30 year fixed rates, September 12th 2015 30 year fixed rates, September 13th 2015 30 year fixed rates.

Interest Rates Improve Slightly After August Jobs Report, FED meeting 10 Days Away