WEEKLY RATE – Rates Holding At 3 Year Lows
May 2016
Interest rates had another good week with the Mortgage Backed Security (MBS) market closing the week trading up + 34 bps.
Interest rates are right at or near 3 year lows. May 2013 is when rates spiked drastically after news that the FED would slow their asset purchasing which was artificially keeping rates low.
Right now rates are great, but there is a lot of uncertainty in the market that will eventually cause a movement. A weakening dollar, fluctuation in oil prices, uncertainty in regards to the FED changing the Federal Funds rate, concern regarding the global economy.
I still believe in locking right now and taking advantage of the 3 year lows.
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Below are today’s interest rates. Have a great week!!
TODAY’S INTEREST RATES:
30 year fixed: 3.5% – .88 points (3.67% APR), 3.625% – 0 points (3.7% APR)
20 year fixed: 3.375% – .51 points (3.47% APR), 3.5% – 0 points (3.55% APR)
15 year fixed: 2.75% – .78 points (2.9% APR), 2.99% – 0 points (3.02% APR)
10 year fixed: 2.625% – .74 points (2.77% APR), 2.875% – 0 points (2.89% APR)
5/1 ARM: 2.75% – .97 points (2.94% APR), 3.125% – 0 points (3.14% APR)
7/1 ARM: 3.0% – .76 points (3.15% APR), 3.25% – 0 points (3.29% APR)
30 year fixed FHA: 3.25% – 0 points (3.95% APR)
15 year fixed FHA: 2.75% – .73 points (3.19% APR), 3.0% – 0 points (3.3% APR)
30 year fixed VA: 3.25% – .31 points (3.32% 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, 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. May 10th 2016 30 year fixed rates, May 11th 2016 30 year fixed rates, May 12th 2016 30 year fixed rates, May 13th 2016 30 year fixed rates, May 14th 2016 30 year fixed rates, May 15th 2016 30 year fixed rates, May 16th 2016 30 year fixed rates.
Weekly Rate – Rates Holding at 3 Year Lows
