WEEKLY RATE – Interest Rates Rise in Anticipation of FED raising rates on Wednesday
After hitting 7 month lows the previous week, mortgage interest rate pricing has slowing increased in anticipation of the Federal Reserve Board raising the Federal Funds rate .25% on Wednesday, June 14th.
The economy has slowly been improving with incremental job growth and another drop in the unemployment rate. Inflation has also stabilized.
The Mortgage Backed Security Market (MBS) closed last week trading down – 20 bps and has started this week trading down -17 bps. Pushing interest rates off their lows but still very good with the ability for a well qualified borrower to get a 30 year fixed rate in the 3%’s with less than a point.
Here at Fairway, we have a lot of unconventional products that may fit your needs if you don’t qualify in the agency box.
Some of the popular unconventional products we offer are:
-Early Access programs that allow you to lend with lower seasoning periods after a Bankruptcy, Foreclose, or Short Sale than Conventional, FHA, and VA.
-High Debt to income ratio non conventional products
-Non Warrantable condo loans
-Down payment assistance products – buy a new home without a down payment
As always, have an amazing week and I’m always available if you need help with a new home loan purchase or refinance.
For a no obligation mortgage quote, please answer questions on the right or click below:
To apply for a refinance or home purchase loan, please call me or click below:
https://0414113733.mortgage-application.net/WebApp/Start.aspx
I am a top 1% mortgage originator in the country with 13 years of experience.
My team treats every transaction as an audition to earn your business for the rest of your life.
Our customers always come first and we will do everything in our power to make sure you have a great product and a great mortgage experience.
Below are today’s interest rates. Have a great week!!
TODAY’S INTEREST RATES:
30 year fixed: 3.99% – .66 points (4.122% APR), 4.125% – 0 points (4.18% APR), 4.375% – $0 costs (4.375% APR)
20 year fixed: 3.75% – .79 points (3.91% APR), 3.99% – 0 points (4.04% APR), 4.25% – $0 costs (4.25% APR)
15 year fixed: 3.25% – .9 points (3.45% APR), 3.5% – 0 points (3.56% APR), 3.875% – $0 costs (3.875% APR)
5/1 ARM: 3.375% – .97 points (3.56% APR), 3.875% – 0 points (3.91% APR)
30 year fixed FHA: 3.75% – 1 point (4.625% 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% – .98 points (4.0% APR), 3.875% – 0 points (4.17% APR), 4.125% – $0 costs (outside of FHA Fee) (4.42% APR)
30 year fixed VA: 3.75% – .95 points (3.95% APR), 4.0% – 0 points (4.07% APR), 4.25% – $0 costs (4.25% APR)
30 year Fixed Jumbo: 3.875% – .99 points (4.07% APR), 4.125% – 0 points (4.17% APR),
7/1 ARM Jumbo: 3.0% – .94 points (3.19% APR), 3.375% – 0 points (3.41% APR)
WEEKLY RATE – Interest Rates Rise in Anticipation of FED Raising Rates on Wednesday
