WEEKLY RATE – Interest Rates Hit 7 Month Lows
I hope everyone had a happy and safe Memorial Day weekend!! Prayers go out to our military and the individuals that paid the ultimate sacrifice. We appreciate your service!!
Interest rates continued their slow improvement last week culminating in mortgage interest rate pricing hitting their lowest levels in 7 months on Friday.
The Mortgage Backed Security Market (MBS) closed last week trading up + 38 bps and is currently trading up + 4 bps this week. Currently you can get a 30 year fixed at 3.875% with less than a point – that’s a lot better than we were seeing just a short time ago. Now is a great time to lock in and take advantage of the market.
In up and coming news – former FBI director Comey is testifying to Congress on Thursday. This could be an event that moves the market.
Next week is the FED Interest Rate Decision on Wednesday. This one is up in the air a bit. There is not a market consensus on if the FED will raise rates or not.
As always, have an amazing week and I’m always available if you need help with a new home loan purchase or refinance.
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Below are today’s interest rates. Have a great week!!
TODAY’S INTEREST RATES:
30 year fixed: 3.875% – .99 points (4.07% APR), 4.125% – 0 points (4.16% APR), 4.375% – $0 costs (4.375% APR)
20 year fixed: 3.75% – .55 points (3.87% APR), 3.875% – 0 points (3.92% APR), 4.125% – $0 costs (4.125% APR)
15 year fixed: 3.25% – .65 points (3.35% APR), 3.5% – 0 points (3.55% APR), 3.875% – $0 costs (3.875% APR)
5/1 ARM: 3.25% – .92 points (3.4% APR), 3.625% – 0 points (3.7% APR)
30 year fixed FHA: 3.75% – .91 points (4.62% APR), 4.0% – 0 points (4.7% APR), 4.375% – $0 costs (outside of FHA Fee) (5.07% APR)
15 year fixed FHA: 3.5% – .77 points (3.95% APR), 3.75% – 0 points (4.05% APR), 4.125% – $0 costs (outside of FHA Fee) (4.42% APR)
30 year fixed VA: 3.75% – .75 points (3.90% APR), 4.0% – 0 points (4.05% APR), 4.375% – $0 costs (4.375% APR)
30 year Fixed Jumbo: 3.875% – .7 points (4.01% APR), 4.125% – 0 points (4.16% APR),
7/1 ARM Jumbo: 3.125% – .94 points (3.3% APR), 3.5% – 0 points (3.55% APR)
Mortgage interest Rates improved in the first week of June 2017. Here, Reggie Green, Team Green, and Fairway Independent Mortgage in Scottsdale, Arizona, McCormick Ranch, are dedicated to providing all the best mortgage products and customer service to assist you in your home purchase or refinance in Arizona, California, Colorado, Washington, Georgia, Michigan and Virginia. 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. Fairway Independent Mortgage Corporation. Team Green. Reggie Green. FairwayAZ, Fairway McCormick Ranch, Fairway Mortgage. June 6th 2017 30 year fixed rates, June 7th 2017 30 year fixed rates, June 8th 2017 30 year fixed rates, June 9th 2017 30 year fixed rates, June 10th 2017 30 year fixed rates, June 11th 2017 30 year fixed rates, June 12th 2017 30 year fixed rates, June 13th 2017 30 year fixed rates.
WEEKLY RATE – Interest Rates Hit 7 Month Lows
