Rates Move Higher After FED Doesn’t Raise Federal Funds Rate
November 2015
Last week, the Federal Open Market Committee (FOMC) announced that they would not raise the Federal Funds rate. Although most experts predicted they would not raise the rate, the Mortgage Backed Security market had a sell off after the announcement, closing down – 74 bps on Wednesday and Thursday. This pushed rates about .125% higher than they were prior.
On the week the MBS market closed down – 36 bps.
The FOMC meets again in December and I personally think they will raise the Federal Funds rate at that time after a year of talking about it.
This week is employment week with the Non Farm Payroll report being released on Friday. If job creation is higher than predicted – interest rate pricing should get worse. If job creation is lower than predicted – interest rate pricing should improve.
Most experts I follow recommend locking with the risk of rates going higher outweighing the possibility of rates going lower.
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Below are today’s interest rates. Have a great week!!
TODAY’S INTEREST RATES:
30 year fixed: 3.875% – 1 point (4.078% APR), 4.125% – 0 points (4.13% APR)
20 year fixed: 3.75% – .479 points (3.87% APR), 3.875% – 0 points (3.9% APR)
15 year fixed: 3.125 % – .83 points (3.29% APR), 3.375% – 0 points (3.4% APR)
10 year fixed: 3.0% – .69 points (3.13% APR), 3.25% – 0 points (3.27% APR)
5/1 ARM: 3.25% – 1 point (3.45% APR), 3.875% – 0 points (3.9% APR)
7/1 ARM: 3.5% – .8 points (3.66% APR), 3.875% – 0 points (3.9% APR)
30 year fixed FHA: 3.625% – 1 point (4.52% APR), 3.875% – 0 points (4.55% APR)
15 year fixed FHA: 3.25% – .73 points (3.69% APR), 3.5% – 0 points (3.8% APR)
30 year fixed VA: 3.75% – .35 points (3.82% APR), 3.875% – 0 points (3.9% 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. November 2nd 2015 30 year fixed rates, November 3rd 2015 30 year fixed rates, November 4th 2015 30 year fixed rates, November 5th 2015 30 year fixed rates, November 6th 2015 30 year fixed rates, November 7th 2015 30 year fixed rates, November 8th 2015 30 year fixed rates.
Rates Move Higher After FED Doesn’t Raise Federal Funds Rate
