WEEKLY RATE – RATES IMPROVE TO 2 WEEK LOWS

WEEKLY RATE – RATES IMPROVE TO 2 WEEK LOWS

Interest rates improved last week and are now at about 2 week lows – though rate pricing isn’t a ton different then it was 2 weeks ago.

The Mortgage Backed Security Market closed the week trading up + 46 bps, and closed Monday, November 6th, 2017 up + 9 bps.

There was a ton of news last week but not so much this week.

Jerome Powell was picked by President Trump as the new FED chair. He is generally looked at as a positive for bonds and rate pricing. Learn more about him in this article in the New York Times:

https://www.nytimes.com/2017/11/02/business/economy/jerome-powell-fed-chairman.html?action=click&contentCollection=Economy&module=RelatedCoverage&region=Marginalia&pgtype=article

The FED met and did not raise the Federal Funds Rate though they did change their classification of the economy as growing at a solid rate.

The Non Farm Payroll report came out on Friday and job creation came in at 261k versus an estimated 310k.

Republicans released their tax plan and if passed would be the biggest tax change since the 1980’s. Normally this one would be a positive for stocks and bad for rate pricing but there is skepticism that this will not pass without major revisions.

Not much news this week. Rate pricing is neutral right now with not much movement after a lot of major announcements last week.

Below are today’s interest rates.  Have a great week!!

TODAY’S INTEREST RATES:

30 year fixed:       3.99% – .99 points (4.2% APR),       4.25% – 0 points (4.29% APR)

20 year fixed:       3.875% – .8 points (4.03% APR),     4.125% – 0 points (4.18% APR)

15 year fixed:        3.5% –  .86 points (3.67% APR),        3.75% – 0 points (3.79% APR)

5/1 ARM:        3. 5% – .99 points (3.69% APR),     3.875% – 0 points (3.92% APR)    

30 year fixed FHA:        3.99% – .90 points (4.87% APR),     4.25% – 0 points (4.95% APR)

15 year fixed FHA:        3.875% – .99 points (4.37% APR),     4.125% – 0 points (4.42% APR),    

30 year fixed VA:        3.99% – .8 points (4.15% APR),     4.25% – 0 points (4.29% APR)

30 year Fixed Jumbo:     4.0% – .99 points (4.19% APR),     4.25% – 0 points (4.27% APR)

7/1 ARM Jumbo:        3.375% – .99 points (3.57% APR),     3.75% – 0 points (3.79% APR)

 

Have an amazing week and we’re always available if you need help with a new home loan purchase or refinance.

TEAM GREEN LINE: 480-704-4890

TEAMGREEN@FAIRWAYMC.COM

Reggie Green, Team Green, and Fairway Independent Mortgage in Scottsdale, Arizona, McCormick Ranch, Fairway Independent Mortgage McCormick Ranch is 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.  November 8th 2017 30 year fixed rates, November 9th 2017 30 year fixed rates, November 10t11 2017 30 year fixed rates, November 11th 2017 30 year fixed rates, November 12th 2017 30 year fixed rates, November 13th 2017 30 year fixed rates, November 14th 2017 30 year fixed rates, November 15th 2017 30 year fixed rates.

WEEKLY RATE – RATES IMPROVE TO 2 WEEK LOWS

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