WEEKLY RATE – FED INTEREST RATE DECISION THIS WEEK
Mortgage interest rates have steadily risen over the past week.
The Mortgage Backed Security (MBS) market closed last week down -26 bps, and closed Monday down – 6 bps. Not a huge move, but interest rates have definitely moved off the 2017 lows they were at 2 weeks ago. Current rate pricing is close to .125% higher than the lows of previous week.
The Federal Reserve Board holds it’s meeting Tuesday 9/19 and Wednesday 9/20 with an interest rate decision on Wednesday. I expect the FED to raise rates, but not until their December meeting. The FED will likely also announce plans to either taper or not taper their balance sheet at a defined time. This will likely also affect rate pricing and the general direction of mortgage rates.
I think it’s safer to lock in rate pricing before the FED statement on Wednesday.
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
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I am a top 1% mortgage originator in the country with 13 years of experience.
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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: 3.875% – .99 points (4.08% APR), 4.125% – 0 points (4.18% APR), 4.375% – $0 costs (4.375% APR)
20 year fixed: 3.75% – .76 points (3.92% APR), 3.99% – 0 points (4.03% APR), 4.25% – $0 costs (4.25% APR)
15 year fixed: 3.25% – .92 points (3.41% APR), 3.5% – 0 points (3.59% APR), 3.875% – $0 costs (3.875% APR)
5/1 ARM: 3.375% – .95 points (3.53% APR), 3.875% – 0 points (3.92% APR)
30 year fixed FHA: 3.875% – .87 points (4.74% APR), 4.125% – 0 points (4.82% APR), 4.5% – $0 costs (outside of FHA Fee) (5.2% APR)
15 year fixed FHA: 3.75% – .99 points (4.25% APR), 4.125% – 0 points (4.42% APR),
30 year fixed VA: 3.875% – .68 points (4.01% APR), 4.125% – 0 points (4.17% APR), 4.5% – $0 costs (4.5% APR)
30 year Fixed Jumbo: 3.875% – .88 points (4.05% APR), 4.125% – 0 points (4.17% APR),
7/1 ARM Jumbo: 3.25% – .82 points (3.38% 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, Fairway Independent Mortgage McCormick Ranch, Team Green. Reggie Green. FairwayAZ, Fairway McCormick Ranch, Fairway Mortgage. September 12th 2017 30 year fixed rates, September 13th 2017 30 year fixed rates, September 19th 2017 30 year fixed rates, September 20th 2017 30 year fixed rates, September 21st 2017 30 year fixed rates, September 22nd 2017 30 year fixed rates, September 23rd 2017 30 year fixed rates, September 24th 2017 30 year fixed rates.
WEEKLY RATE – FED INTEREST RATE DECISION THIS WEDNESDAY
