WEEKLY RATE – Rates Slightly Improve After FED Minutes
August 2016
Rates have been fluctuating in a pretty narrow range since BREXIT brought interest rates back to record low levels.
Interest rates have stayed pretty similar over the past 2 weeks – teeter tottering up and down in a narrow range.
Last week, the Mortgage Backed Security (MBS) market closed trading up +23 bps, and this week the market is trading up + 9 bps through Wednesday.
Rate pricing had been moving up prior to the FED Minutes released on Wednesday. The FED Minutes go over the commentary of the FED meetings.
It appears that a Federal Funds rate increase is on the table for September and December but they still need more data to make sure the labor/economic market is improving enough where they feel comfortable in making the increase.
Most investors feel that a Federal Funds rate increase in December or into 2017 is more likely than a move coming up in September.
Rates slightly higher than their lowest levels over the past 2 months – but still close to historic lows.
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Below are today’s interest rates. Have a great week!!
TODAY’S INTEREST RATES:
30 year fixed: 3.375% – .64 points (3.5% APR), 3.5% – 0 points (3.54% APR)
20 year fixed: 3.125% – .9 points (3.3% APR), 3.25% – 0 points (3.29% APR)
15 year fixed: 2.75% – .45 points (2.85% APR), 2.875% – 0 points (2.91% APR)
10 year fixed: 2.625% – .98 points (2.82% APR), 2.75% – 0 points (2.8% APR)
5/1 ARM: 2.875% – .81 points (3.03% APR), 3.25% – 0 points (3.28% APR)
7/1 ARM: 3.0% – .94 points (3.2% APR), 3.5% – 0 points (3.53% APR)
30 year fixed FHA: 3.0% – .75 pts (3.85% APR), 3.25% – 0 points (3.95% APR)
15 year fixed FHA: 2.75% – .36 points (3.12% APR), 2.875% – 0 points (3.17% APR)
30 year fixed VA: 3.125% – .80 points (3.29% APR), 3.25% – 0 points (3.3% 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. August 18th 2016 30 year fixed rates, August 19th 2016 30 year fixed rates, August 20th 2016 30 year fixed rates, August 21st 30 year fixed rates, August 22nd 2016 30 year fixed rates, August 23rd 2016 30 year fixed rates, August 24th 2016 30 year fixed rates.
Weekly Rate – Rates Slightly Improve After FED Minutes
