WEEKLY RATE – Rates At 5 Month Highs, But Still Great
Interest rates are still great and historically low, but they are a bit higher than they have been over the past 5 months, post Brexit. 30 Year Fixed rates are still at 3.5% (3.66% APR) for a portion of a point. The lowest they were this year were 3.25% with a portion of a point.
So definitely higher but still very low.
The Mortgage Backed Security Market (MBS) traded down – 43 bps last week, inching rate pricing higher. This week they have improved slightly with the MBS trading up + 10 bps through Tuesday.
A few big reports are coming up this week.
The FED is making a statement tomorrow which will likely hint on if they will raise rates at their December meeting. The ADP Private payroll will also be released tomorrow. The week will be capped by the October US Non Farm Payroll Report on Friday.
I see little benefit in floating. Rates won’t go much lower with the very likelihood that the FED will raise rates soon.
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Below are today’s interest rates. Have a great week!!
TODAY’S INTEREST RATES:
30 year fixed: 3.5% – .85 points (3.66% APR), 3.75% – 0 points (3.79% APR)
20 year fixed: 3.25% – .96 points (3.44% APR), 3.5% – 0 points (3.53% APR)
15 year fixed: 2.875% – .57 points (2.98% APR), 3.125% – 0 points (3.15% APR)
10 year fixed: 2.75% – .62 points (2.87% APR), 3.0% – 0 points (3.03% APR)
5/1 ARM: 3.25% – .97 points (3.45% APR), 3.75% – 0 points (3.79% APR)
7/1 ARM: 3.375% – .89 points (3.55% APR), 3.75% – 0 points (3.8% APR)
30 year fixed FHA: 3.25% – 0 points (3.95% APR)
15 year fixed FHA: 2.75% – .87 points (3.22% APR), 3.0% – 0 points (3.3% APR)
30 year fixed VA: 3.25% – .25 points (3.3% 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. November 2nd 2016 30 year fixed rates, November 3rd 2016 30 year fixed rates, November 4th 2016 30 year fixed rates, November 5th 30 year fixed rates, November 6th 2016 30 year fixed rates, November 7th 2016 30 year fixed rates, November 8th 2016 30 year fixed rates.
WEEKLY RATE – Rates at 5 Month Highs, But Still Great
