WEEKLY RATE – Interest Rates Reverse Course and Improve
After moving up much of the prior week and a half, mortgage interest rates found some positive momentum, improving 5 of the last 7 days.
The Mortgage Backed Security (MBS) market closed last week up + 34 bps and is trading this week up + 39 bps. The bond markets trading up is a positive for interest rates.
Most investor eyes this week are on the announcement by the European Central Bank on Thursday. The main topic of interest is how far away the Bank is from tapering it’s balance sheet. I expect rate pricing to moderately improve before the announcement but the actual announcement is a high risk event.
Even if the announcement is seen as a positive for interest rates, I don’t see rates moving a ton lower than current levels without a major stock market correction or an unforeseen event that moves markets. That being said, most indicators are that the stock market is over valued at the moment so a correction is not out of the question.
As always, have an amazing week and we’re always available if you need help with a new home loan purchase or refinance.
Jenn Patel / Senior Loan Officer: 480-818-3769
Reggie Green / Branch Manager: 480-206-5577
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:
Fairway is a top 10 retail lender in the country based on funded volume. 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.
Below are today’s interest rates. Have a great week!!
TODAY’S INTEREST RATES:
30 year fixed: 3.99% – .86 points (4.16% APR), 4.25% – 0 points (4.28% APR), 4.375% – $0 costs (4.375% APR)
20 year fixed: 3.875% – .53 points (3.98% APR), 3.99% – 0 points (4.1% APR), 4.25% – $0 costs (4.25% APR)
15 year fixed: 3.25% – 1 point (3.45% APR), 3.625% – 0 points (3.767% APR), 3.99% – $0 costs (3.99% APR)
5/1 ARM: 3.375% – 1 point (3.57% APR), 3.875% – 0 points (3.99% APR)
30 year fixed FHA: 3.875% – .9 points (4.75% APR), 4.25% – 0 points (4.95% APR), 4.5% – $0 costs (outside of FHA Fee) (5.2% APR)
15 year fixed FHA: 3.625% – 1 point (4.125% APR), 4.0% – 0 points (4.3% APR),
30 year fixed VA: 3.875% – .9 points (4.05% APR), 4.25% – 0 points (4.29% APR), 4.5% – $0 costs (4.5% APR)
30 year Fixed Jumbo: 3.875% – 1 point (4.07% APR), 4.125% – 0 points (4.18% APR),
7/1 ARM Jumbo: 3.125% – .99 points (3.32% APR), 3.5% – 0 points (3.55% APR)
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. Below are the products and Mortgage Rate Sheets we offer 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. July 19th 2017 30 year fixed rates, July 20th 2017 30 year fixed rates, July 21st 2017 30 year fixed rates, July 22nd 2017 30 year fixed rates, July 23rd 2017 30 year fixed rates, July 24th 2017 30 year fixed rates, July 25th 2017 30 year fixed rates, July 26th 2017 30 year fixed rates.
WEEKLY RATE – Interest Rates Reverse Course and Improve
