WEEKLY RATE – Interest Rates Float Around 8 Month Lows

WEEKLY RATE – Interest Rates Float Around 8 Month Lows

Rates and the bond market have stayed in a relatively narrow range for the past month. Interest rates continue to float right around 8 month lows – the lowest levels since before the election.
That being said, prospects for rates moving higher on the horizon is still likely with the FED likely to raise the Federal Funds rate again this year.

The Mortgage Backed Security (MBS) market traded up + 6 bps last week and is trading down – 20 bps so far this week. Currently, a well qualified buyer can get a 30 year fixed rate in the 3%’s with less than a point – a great historical rate.

Fairway Independent Mortgage was again the top funding lender in Maricopa County, Arizona. This is a great accomplishment and I’m proud to work for such a great company. We have a great culture and our products and loan service are fantastic.


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 right or go to:


 

 

 

 

To apply for a refinance or home purchase loan, please call me or go to:


 

 

 

 

 

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% – .67 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 Float Around 8 Month Lows

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