0 point interest rates

WEEKLY RATE – FED RATE HIKE LIKELY COMING IN DECEMBER

WEEKLY RATE – FED RATE HIKE LIKELY COMING IN DECEMBER

I hope everyone is having a fantastic week!!

In this weekly rate we discuss current interest rate news and an important change to the Arizona Down Payment Assistance Program. Starting off with interest rates.

WEEKLY RATE

Interest rates improved slightly in the last week of November 2017.

Rate pricing improved about 10 bps in costs at each rate with the Mortgage Backed Security (MBS) market finishing the week up + 9 bps.

For well qualified customers, they can obtain a 30 year fixed rate at 3.99% with .75 points (4.15% APR), and a 4.25% with 0 points (4.29% APR).

Rate volatility will likely increase to close out 2017.

On December 12th and 13th, the Federal Open Market Committee (FOMC) is meeting and will likely raise the Federal Funds rate. Congress will be working to get through an updated tax plan which will affect the markets.

News about holiday shopping and employment will also play a key role in interest rate pricing.

If you are still thinking about refinancing, if you start now you can still miss December and January’s mortgage payment.

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

MORTGAGE QUOTE / APPLY FOR A MORTGAGE:

For a no obligation mortgage quote, please answer questions at bottom of email or go to:


 

 

 

 

 

WWW.FREEMORTGAGEQUOTE.NET

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


 

 

 

 

 

 

http://reggiegreenhomeloans.com/apply-now/full-application-reggie-green/

 

MAJOR CHASE TO ARIZONA DOWN PAYMENT ASSISTANCE PROGRAM – HOME PLUS AND HOME IN 5

Effective, January 2, 2018 on all new HOME Plus reservations the assistance provided will be in the form of a three-year, no interest, no payment, deferred soft second mortgage, forgiven monthly at a rate of 1/36 over the term of the lien.

Currently, clients are utilizing down payment assistance programs to help get into their homes with little to no money down.   

Down Payment Assistance program utilize higher rates than a traditional mortgage to help offset the grant money being paid. Many lenders are soliciting these borrowers right after closing to lower their rate.

This is a smart tactic, but it makes the program unsustainable as the higher rate is helping pay for the grant.

If they are immediately being paid off, the program is losing money.

Effective on all new Home Plus reservations after January 2nd – the grant will be a silent 2nd completely forgivable after 3 years.

This will create a combined loan to value likely over 100%, preventing lenders from coming in to immediately refinance the down payment assistance loans.

HOW CAN YOU USE THIS TO YOUR ADVANTAGE:

Once the silent 2nd goes into effect, it will be difficult for borrowers using down payment assistance to refinance shortly after closing.

But, they can still utilize the grant if they act fast and get under contract in December.

Once the silent 2nd goes into effect, borrowers will likely have to remain in a higher down payment assistance rate for a lot longer because of the higher combined loan to value and rate pricing is worse when you have 2 loans.

They will also have less equity if they sell within 3 years.

TEAM GREEN

Team Green is a top 1% originating mortgage team in the country. Everyone on our team has over 13 years of mortgage lending experience.

My team treats every transaction as an audition to earn your business for the rest of your life.

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 27th 2017 30 year fixed rates, November 28th 2017 30 year fixed rates, November 29th 2017 30 year fixed rates, November 30th 2017 30 year fixed rates, December 1st 2017 30 year fixed rates, December 2nd 2017 30 year fixed rates, December 3rd 2017 30 year fixed rates, December 4th 2017 30 year fixed rates.

WEEKLY RATE – FED RATE HIKE LIKELY COMING IN DECEMBER

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WEEKLY RATE – TABLE IS SET FOR HIGHER RATES

WEEKLY RATE – TABLE IS SET FOR HIGHER RATES

Interest rate pricing had a bad week.

The Mortgage Backed Security (MBS) market closed down heavily 3 of the 5 days, finishing the week closing down – 54 bps.

More importantly, the table is set for potential rapid rate increases.

The Senate passed the budget, opening the door for a Trump tax reform coming. Lower taxes are looked upon favorably by stocks, but the bond and rate markets typically move in a opposite direction. If tax reform causes stocks to continue their rapid incline, rates will be hurt with less interest in bonds.

There is also speculation that Janet Yellen (generally having been favorable for low interest rate pricing) may not be the next FED Chair.

The table is set and the potential is there for rapid rate increases in the future. Lock your rates. Don’t wait on the sidelines hoping rates will drop again.

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% – .7 points (4.01% APR),     4.125% – 0 points (4.17% APR)

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

5/1 ARM:        3.375% – .99 points (3.57% APR),     3.875% – 0 points (3.92% APR)    

30 year fixed FHA:        3.99% – .99 points (4.9% APR),     4.375% – 0 points (5.07% 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),     4.375% – 0 points (4.41% APR)

30 year Fixed Jumbo:     4.0% – .85 points (4.17% APR),     4.25% – 0 points (4.29% APR)

7/1 ARM Jumbo:        3.375% – .86 points (3.55% APR),     3.625% – 0 points (3.67% APR)

MORTGAGE QUOTE / APPLY FOR HOME LOAN:

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:

 

 

 

 

 

 

 

Team Green is a top 1% originating mortgage team in the country. Everyone on our team has over 13 years of mortgage lending experience.

My team treats every transaction as an audition to earn your business for the rest of your life.

Have an amazing week and we’re always available if you need help with a purchase loan 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.  October 23rd, 2017 30 year fixed rates, October 24th 2017 30 year fixed rates, October 25th 2017 30 year fixed rates, October 26th 2017 30 year fixed rates, October 27th 2017 30 year fixed rates, October 28th 2017 30 year fixed rates, October 29th 2017 30 year fixed rates, October 30th 2017 30 year fixed rates.

WEEKLY RATE – TABLE IS SET FOR HIGHER RATES

WEEKLY RATE – Rates Reverse Course

WEEKLY RATE – RATES REVERSE COURSE

Interest rates hit their highest levels in 4 months last week. Starting on Friday, we finally saw some strength in the bond markets which have helped rates reverse course.

The Mortgage Backed Security (MBS) market closed the past 3 days up + 33 bps after finishing higher the past few weeks.

Currently 30 Year Fixed rates are still in the 3%’s paying a portion of a point.

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

teamgreen@fairwaymc.com

Jenn Patel / Senior Loan Officer: 480-818-3769

Reggie Green / Branch Manager: 480-206-5577

 

 

 

For a no obligation mortgage quote, please answer questions at bottom of email 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:       3.875% – .99 points (4.08% APR),       4.125% – 0 points (4.18% APR)

20 year fixed:       3.75% – .67 points (3.88% APR),     3.99% – 0 points (4.03% APR)

15 year fixed:        3.25% –  .99 points (3.44% APR),        3.625% – 0 points (3.65% APR)

5/1 ARM:        3.375% – .88 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)

15 year fixed FHA:        3.75% – .99 points (4.25% APR),     4.125% – 0 points (4.42% APR),    

30 year fixed VA:        3.75% – .99 points (3.95% APR),     4.125% – 0 points (4.17% 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% – .91 points (3.44% APR),     3.625% – 0 points (3.66% 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 26th  2017 30 year fixed rates, September 27th 2017 30 year fixed rates, September 28th 2017 30 year fixed rates, September 29th 2017 30 year fixed rates, September 30th 2017 30 year fixed rates, October 1st 2017 30 year fixed rates, October 2nd 2017 30 year fixed rates, October 3rd 2017 30 year fixed rates.

WEEKLY RATE – Rates Reverse Course

WEEKLY RATE – FED INTEREST RATE DECISION THIS WEDNESDAY

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.

teamgreen@fairwaymc.com

Jenn Patel / Senior Loan Officer: 480-818-3769

Reggie Green / Branch Manager: 480-206-5577

For a no obligation mortgage quote, please answer questions at bottom of email or go to:

WWW.FREEMORTGAGEQUOTE.BIZ

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

WWW.APPLYWITHTEAMGREEN.COM

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:       3.875% – .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

WEEKLY RATE – RATES MAKE MOVE HIGHER

WEEKLY RATE – Rates Make Move Higher

After hitting the lowest levels of the year on Tuesday, September 5th, mortgage interest rates have steadily risen.

The Mortgage Backed Security (MBS) market closed the past 5 days down – 20 bps. Not a drastic movement higher, but enough to move interest rates off their recent lows.

With UN Sanctions on North Korea, investors are moving their safety investment in bonds to securities. Also, Hurricane Irma’s damage was thought to be a 100 billion dollar hit against insurance companies. Those estimates have been revised to 20 – 40 billion, pushing insurance company stocks higher.

The stock market moving up is bad for interest rates and has been responsible for the recent rise in rates. Whenever you see a low in interest rate pricing, it’s smart to take advantage of it. Rate pricing is typically only down for a day or two and most consumers miss it.

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

teamgreen@fairwaymc.com

Jenn Patel / Senior Loan Officer: 480-818-3769

Reggie Green / Branch Manager: 480-206-5577


 

 

For a no obligation mortgage quote, please answer questions at bottom of email 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:       3.875% – .96 points (4.07% APR),       4.125% – 0 points (4.17% APR),   4.375% – $0 costs (4.375% APR)

20 year fixed:       3.75% – .67 points (3.89% APR),     3.875% – 0 points (3.95% APR), 4.25% – $0 costs (4.25% APR)

15 year fixed:        3.25% –  .82 points (3.41% APR),        3.5% – 0 points (3.58% APR),     3.875% – $0 costs (3.875% APR)

5/1 ARM:        3.25% – .96 points (3.44% APR),     3.75% – 0 points (3.79% 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),     3.99% – 0 points (4.29% APR),    

30 year fixed VA:        3.75% – .99 points (3.95% APR),     4.0% – 0 points (4.06% APR),     4.5% – $0 costs (4.5% APR)

30 year Fixed Jumbo:     3.75% – .99 points (3.95% APR),     4.0% – 0 points (4.05% APR),        

7/1 ARM Jumbo:        3.125% – .9 points (3.31% 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 14th 2017 30 year fixed rates, September 15th 2017 30 year fixed rates, September 16th 2017 30 year fixed rates, September 17th 2017 30 year fixed rates, September 18th 2017 30 year fixed rates, September 19th 2017 30 year fixed rates.

WEEKLY RATE – RATES MAKE MOVE HIGHER

WEEKLY RATE – Rates Go Deeper Into 2017 Lows

WEEKLY RATE – Rates Go Deeper Into 2017 Lows

Interest rates dove deeper into their lowest levels of 2017 and the lowest levels since November 2016.

Tension between North Korea and the United States is causing some investors to push funds into the safety of the bond market, which is certainly helping interest rates at the moment.  That being said, there is not much room for substantial improvement without a major event as the market is trading at the top of it’s average range.

The Mortgage Backed Security (MBS) market ended last week trading up + 6 bps, and closed Tuesday up + 40 bps.

Moving forward, September could be a volatile month for markets.  The geopolitical events of international conflict and natural disasters in the US will continue to affect the market and interest rates.  Congress is now back in session and one of the first items on the agenda will be increasing the debt ceiling and avoiding a government shut down.  How close the government comes to being shut down will affect markets.  Many central banks across the globe will be releasing policy statements this month and the FED may start cutting it’s budget. 

It’s shaping up to be an eventful month for financial markets and interest rate pricing.

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

teamgreen@fairwaymc.com

Jenn Patel / Senior Loan Officer:  480-818-3769

Reggie Green / Branch Manager:  480-206-5577

For a no obligation mortgage quote, please answer questions at bottom of email 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:       3.875% – .65 points (4.00% APR),       3.99% – 0 points (4.05% APR),    4.25% – $0 costs (4.25% APR)

20 year fixed:       3.625% – .6 points (3.74% APR),     3.875% – 0 points (3.99% APR),  4.125% – $0 costs (4.125% APR)

15 year fixed:        3.25% –  .76 points (3.37% APR),        3.5% – 0 points (3.57% APR),     3.75% – $0 costs (3.75% APR)

5/1 ARM:        3.25% – .8 points (3.36% APR),      3.75% – 0 points (3.79% APR)    

30 year fixed FHA:        3.75% – .99 points (4.65% APR),      4.125% – 0 points (4.82% APR),     4.5% – $0 costs (outside of FHA Fee) (5.2% APR)

15 year fixed FHA:        3.625% – .99 points (4.12% APR),      3.99% – 0 points (4.29% APR),    

30 year fixed VA:        3.75% – .9 points (3.95% APR),     3.99% – 0 points (4.06% APR),     4.5% – $0 costs (4.5% APR)

30 year Fixed Jumbo:     3.75% – .86 points (3.92% APR),      4.0% – 0 points (4.05% APR),        

7/1 ARM Jumbo:        3.125% – .71 points (3.24% APR),      3.375% – 0 points (3.4% 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 5th  2017 30 year fixed rates, September 6th 2017 30 year fixed rates, September 7th 2017 30 year fixed rates, September 8th 2017 30 year fixed rates, September 9th 2017 30 year fixed rates, September 10th 2017 30 year fixed rates, September 11th 2017 30 year fixed rates, September 12th 2017 30 year fixed rates.

WEEKLY RATE – Rates Go Deeper Into 2017 Lows

WEEKLY RATE – Interest Rates Remain at 2017 Lows

WEEKLY RATE – Interest Rates Remain at 2017 Lows

Interest rates remain at 2017 lows and at their lowest levels since November of 2016.

The 2 speeches from major financial leaders Janet Yellen and Mario Draghi didn’t touch on any significant change in monetary policy for the FED or the European Central Bank.

Last week, the Mortgage Backed Security (MBS) market closed the week up + 13 bps and also closed Monday up + 6 bps. This is pushing 30 year fixed conventional rates to 3.875% with less than a point. Another great value is a 20 year fixed conventional loan if you are interested in lowering your term some. I can now offer a 3.625% with less than a point, and 3.875% with 0 points.

The United States Non Farm payroll report is released the first Friday of every month. August 2017’s edition will be released on Friday and this report typically affect mortgage interest rates more than any other data for the month.

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

teamgreen@fairwaymc.com

Jenn Patel / Senior Loan Officer: 480-818-3769

Reggie Green / Branch Manager: 480-206-5577

For a no obligation mortgage quote, please answer questions at bottom of email 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:       3.875% – .92 points (4.06% APR),       4.125% – 0 points (4.16% APR),   4.25% – $0 costs (4.25% APR)

20 year fixed:       3.625% – .97 points (3.82% APR),     3.875% – 0 points (3.99% APR), 4.125% – $0 costs (4.125% APR)

15 year fixed:        3.25% –  .75 points (3.4% APR),        3.5% – 0 points (3.57% APR),     3.75% – $0 costs (3.75% APR)

5/1 ARM:        3.25% – .96 points (3.44% APR),     3.75% – 0 points (3.79% APR)    

30 year fixed FHA:        3.875% – .82 points (4.67% APR),     4.125% – 0 points (4.82% APR),     4.625% – $0 costs (outside of FHA Fee) (5.32% APR)

15 year fixed FHA:        3.625% – .99 points (4.12% APR),     4.125% – 0 points (4.42% APR),    

30 year fixed VA:        3.75% – .95 points (3.97% APR),     4.125% – 0 points (4.17% APR),   4.5% – $0 costs (4.5% APR)

30 year Fixed Jumbo:     3.75% – .95 points (3.94% APR),     4.0% – 0 points (4.05% APR),        

7/1 ARM Jumbo:        3.125% – .92 points (3.30% APR),     3.375% – 0 points (3.4% 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.  August 28th  2017 30 year fixed rates, August 29th 2017 30 year fixed rates, August 30th 2017 30 year fixed rates, August 31st 2017 30 year fixed rates, September 1st 2017 30 year fixed rates, September 2nd 2017 30 year fixed rates, September 3rd 2017 30 year fixed rates, September 4th 2017 30 year fixed rates.

WEEKLY RATE – Interest Rates Remain at 2017 Lows

WEEKLY RATE – Rates Hit 2017 Lows

WEEKLY RATE – Rates Hit 2017 Lows

Interest rates trended down last week, ending at the lowest levels we’ve seen in 2017 and since November of 2016. 15, 20 and 30 Year Fixed rates are entrenched well in the 3%’s.

Now is a great time to reevaluate your mortgage to see if you can save money through a refinance. We can put together refinance options quickly on the phone or by having you answer a few simple questions on our website.

There is not a ton of interest rate news this week until Friday, when the heavy weights of the economy meet in Jackson Hole.

PRODUCT SPOTLIGHT – Down Payment Assistance Programs

 

 

 

 

Down payment assistance non repayable grants are available in many states and counties. We specialize in the Arizona Down Payment assistance programs Home Plus and Home in 5, but we also offer down payment assistance programs in other states when they are available.

The main tenets of down payment assistance are when a borrower qualifies with credit and income but does not have (or does not want to use) money for a down payment. Most programs are non repayable grants where your regular 3 to 3.5% down payment requirement are paid for through the grant.

To qualify, you typically have to have a credit score in the mid 600’s or above and we have to get your debt to income ratio to 45% or below.

If you are wanting to buy a home, but haven’t saved or don’t want to use your money for a down payment – please give us a call. We can let you know the same day whether you are eligible for down payment assistance and what grants may be available to you.

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

teamgreen@fairwaymc.com

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:

 

 

 

 

 

 

 

I am a top 1% mortgage originator in the country with 13 years of experience.  Fairway Independent Mortgage is a top 5 retail lender in the United States.

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:       3.875% – .99 points (4.07% APR),       4.125% – 0 points (4.17% APR),   4.375% – $0 costs (4.375% APR)

20 year fixed:       3.625% – .99 points (3.82% APR),     3.875% – 0 points (3.99% APR), 4.125% – $0 costs (4.125% APR)

15 year fixed:        3.25% –  .89 points (3.44% APR),        3.625% – 0 points (3.67% APR),     3.875% – $0 costs (3.875% APR)

5/1 ARM:        3.25% – .96 points (3.44% APR),     3.75% – 0 points (3.79% APR)    

30 year fixed FHA:        3.875% – .97 points (4.77% APR),     4.25% – 0 points (4.92% APR),     4.625% – $0 costs (outside of FHA Fee) (5.32% APR)

15 year fixed FHA:        3.75% – .95 points (4.24% APR),     4.125% – 0 points (4.42% APR),    

30 year fixed VA:        3.875% – .77 points (4.02% APR),     4.125% – 0 points (4.17% APR),     4.5% – $0 costs (4.5% APR)

30 year Fixed Jumbo:     3.875% – .5 points (3.97% APR),     4.0% – 0 points (4.05% APR),        

7/1 ARM Jumbo:        3.125% – .98 points (3.31% APR),     3.5% – 0 points (3.54% APR)

Weekly Rate – Rates Hit 2017 Lows

WEEKLY RATE – INTEREST RATES REMAIN STABLE

WEEKLY RATE – Interest Rates Remain Stable

Interest rates continue to ebb and flow, but remain remarkably consistent when looking at rate pricing over a week or longer period.

30 Year Fixed rates are still sticking in the high 3%’s with less than a point and 4.125% at 0 points.

The Mortgage Backed Security (MBS) market closed last week up + 30 bps, and is trading down – 20 bps so far this week. Some ups and downs, but very consistent and stable

I expect rates to continue in this fashion until at least the next FED meeting.

PRODUCT SPOTLIGHT – Early Access Product

We have a great product that allows home owner’s to refinance or purchase without waiting the long periods required by Conventional, FHA, and VA.

We see it every day where consumers want to buy above the FHA loan limit, but had a foreclosure within the past 7 years. Conventional loans require a full 7 years out of foreclosure before qualifying for a Fannie Mae/Freddie Mac mortgage.

The Early Access product is a great solution to finance now with the goal to switch to a conventional loan down the line.

Below are some of the details of this great product:

620+ credit score required

85% LTV or less

43% Debt to Income Ratio or less

Primary, Vacation and Investment Homes

Gift funds permitted

Cash out loans permitted

If you have been having a hard time getting financing due to a recent foreclosure, short sale, or bankruptcy. Please give us a call. We would love the opportunity to help!!

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

teamgreen@fairwaymc.com

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:

 

 

 

 

 

 

 

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% – .68 points (4.12% APR),       4.125% – 0 points (4.16% 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% –  .97 points (3.44% APR),        3.625% – 0 points (3.76% APR),     3.875% – $0 costs (3.875% APR)

5/1 ARM:        3.5% – .94 points (3.69% APR),     4.0% – 0 points (4.06% APR)    

30 year fixed FHA:        3.875% – .99 points (4.77% APR),     4.125% – 0 points (4.82% APR),     4.625% – $0 costs (outside of FHA Fee) (5.32% APR)

15 year fixed FHA:        3.75% – .91 points (4.23% APR),     4.0% – 0 points (4.3% APR),    

30 year fixed VA:        3.875% – .86 points (4.04% APR),     4.125% – 0 points (4.17% 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:        3.25% – .83 points (3.42% APR),     3.5% – 0 points (3.57% 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.  August 16th  2017 30 year fixed rates, August 17th 2017 30 year fixed rates, August 18th 2017 30 year fixed rates, August 19th 2017 30 year fixed rates, August 20th 2017 30 year fixed rates, August 21st  2017 30 year fixed rates, August 22nd 2017 30 year fixed rates, August 23rd 2017 30 year fixed rates.

WEEKLY RATE – INTEREST RATES REMAIN STABLE

WEEKLY RATE – Fannie Mae Increases Debt To Income Ratio Limit to 50%

WEEKLY RATE – Fannie Mae Increases Debt To Income Ratio Limit to 50%

The big news this week is Fannie Mae’s implementation of DU version 10.1.

With DU 10.1, more borrowers will be able to qualify for a Fannie Mae conventional mortgage.

The most notable change is the increased max debt to income ratio to 50%.

 

 

 

 

 

 

 

 

 

 

If you were unable to qualify for a loan in the past due to debt to income ratio, please reach out to us. We would love the opportunity to look into this again for you.

Other notable changes are:

  • Easier approval for borrowers with disputed credit tradelines
  • ARM LTVs up to 95%
  • More self employed borrowers will be approved to use 1 year tax returns
  • Time Shares will no longer to be considered mortgages

 

Interest Rates Continue in Narrow Range Close to 2017 Lows

Interest rates continued to trade in a narrow range at or close to the lowest levels of 2017.

The Mortgage Backed Security Market closed last week trading up + 22 bps. Currently, well qualified borrowers are still able to get a rate in the 3%’s for less than a point.

I expect rates to continue in this narrow range for the time being barring an unforeseen event.

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

teamgreen@fairwaymc.com

Jenn Patel / Senior Loan Officer: 480-818-3769

Reggie Green / Branch Manager: 480-206-5577

 

 

 

For a no obligation mortgage quote, please answer questions at 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% – .73 points (4.15% APR),       4.125% – 0 points (4.18% APR),   4.375% – $0 costs (4.375% APR)

20 year fixed:       3.75% – .85 points (3.86% APR),     3.99% – 0 points (4.05% APR), 4.25% – $0 costs (4.25% APR)

15 year fixed:        3.25% –  .97 points (3.44% APR),        3.625% – 0 points (3.76% APR),     3.99% – $0 costs (3.99% APR)

5/1 ARM:        3.5% – .94 points (3.69% APR),     3.875% – 0 points (3.99% APR)    

30 year fixed FHA:        3.875% – .99 points (4.77% APR),     4.25% – 0 points (4.95% APR),     4.625% – $0 costs (outside of FHA Fee) (5.32% APR)

15 year fixed FHA:        3.75% – .91 points (4.23% APR),     4.125% – 0 points (4.42% APR),    

30 year fixed VA:        3.875% – .86 points (4.04% APR),     4.125% – 0 points (4.17% APR),     4.5% – $0 costs (4.5% APR)

30 year Fixed Jumbo:     4.0% – .53 points (4.1% APR),     4.125% – 0 points (4.18% APR),        

7/1 ARM Jumbo:        3.25% – .96 points (3.44% APR),     3.625% – 0 points (3.69% 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.  August 8th  2017 30 year fixed rates, August 9th 2017 30 year fixed rates, August 10th 2017 30 year fixed rates, August 11th 2017 30 year fixed rates, August 12th 2017 30 year fixed rates, August 13th  2017 30 year fixed rates, August 14th 2017 30 year fixed rates, August 15th 2017 30 year fixed rates.

WEEKLY RATE – Fannie Mae Increases Debt To Income Ratio Limit to 50%

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