2012

MERRY CHRISTMAS – 30 YEAR FIXED RATES REMAIN AT 3.375%

MERRY CHRISTMAS  –  30 YEAR FIXED RATES REMAIN AT 3.375%

December 26th, 2012

I hope everyone had a Merry Christmas!!

Interest rates did not change much over the past week.  The mortgage backed security market closed last week trading down (-3 bps). This week the MBS market is trading up (+6 bps). 

All eyes remain on the fiscal cliff negotiations.  We are getting down to the deadline and the sides still appear to be very far apart.  Congress will reconvene on Thursday and the President will be back from Hawaii on Thursday.

Some insiders still believe a deal will get done, while others are more pessimistic.  Some think that going over the cliff will cause serious economic repercussions, some don’t.  So you are seeing conflicting points of view on all angles of the fiscal cliff.

Going over the fiscal cliff will cause taxes to go up for all Americans, but many believe a tax deal will get done before the new tables are released even if a Fiscal Cliff deal does not get done.  The market is most concerned with the tax rates, as more taxes equals less disposable income to spend on goods and services.   Unfortunately, it appears likely that the issue of deficit reduction and spending cuts will get kicked down the road. 

My personal belief is:

If the Fiscal Cliff or Tax deal get done, rates will go up slightly.

If they don’t, rates will go down slightly.

In other news, the Senate will be introducing bill S3678 this week.  This bill will be voted on before the end of the year.  If it passes, FHA will raise Mortgage insurance premiums again.  The rumored changes are:

FHA raising monthly mortgage insurance premiums .1%

FHA monthly mortgage insurance premiums to continue for life  

If you are planning to start a new FHA loan, or streamline your existing FHA loan – I wouldn’t wait. 

Have a great week!!

TODAY’S RATES:

30 year fixed:     3.375% paying .40 points,     3.5% paying 0 points,     3.625% – $0 costs

20 year fixed:   3.25% paying .73 points,     3.375% paying 0 points,     3.625%  – $0 costs

15 year fixed:   2.75% paying .26 points,     2.875% paying 0 points,     2.99% – $0 costs

5/1 ARM:   2.25% paying 1 point,     2.625% paying 0 points,     3% – $0 costs

7/1 ARM:    2.5% paying .88 points,     2.75% paying 0 points,     3%- $0 costs

30 year fixed High Balance Loan:    3.5% paying .99 points;     3.75% paying 0 points;    3.875% – $0 costs

30 year fixed FHA:    3.25% – $0 costs

15 year fixed FHA:    2.75% – $0 costs

30 year fixed VA:    3.25% – $0 costs

TR- 12-26-12

Today’s Mortgage Interest Rates.  Current Mortgage Interest Rates and APRs for refinancing and purchasing in Arizona, California, and Colorado.  Arizona Home Loans, California Home Loans, Colorado Home Loans.  Mortgage Rate Sheets for fixed mortgages, ARM mortgages, Variable Mortgages, Interest Only Mortgages, HARP mortgages, HARP 2.0 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 mortgages, Conforming mortgages, Conventional Mortgages, 100%  Financing Mortgage, High Balance Mortgages, Fannie Mae mortgages, Freddie Mac Mortgages, No appraisal refinances, 0 point mortgages, 0 closing cost mortgages, paying a point mortgages, Refinance mortgages, purchase mortgages, and Jumbo Mortgages.

30 Year Fixed Rates remain at 3.375%

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INTEREST RATES MOVE HIGHER – 30 YEAR FIXED TO 3.375%

INTEREST RATES MOVE HIGHER – 30 YEAR FIXED TO 3.375%

December 17th, 2012

Interest Rates moved up slightly last week.  The Mortgage Backed Security Market closed the week down (-41 bps). 

The majority of the movement came when the Federal Open Market Committee announced that they were converting Operation Twist to a purchasing plan in line with QE3.  The purchasing allocation does not include mortgage bonds though, which caused pricing to fall and rates to go up. 

This week trading should be light with most traders stopping for Christmas.  Light trading usually translates to high volatility in the market.   

The Fiscal cliff negotiations still dominate the market.  Most traders are keeping close tabs on the negotiations and are prepared to come back in if something is announced.  If we go over the cliff, it will result in 600 Billion in tax increases and spending cuts starting in February, likely hurting our economy in the 1st quarter of 2013.

Have a great week!!

TODAY’S RATES:

30 year fixed:     3.375% paying .38 points,     3.5% paying 0 points,     3.625% – $0 costs

20 year fixed:   3.25% paying .61 points,     3.375% paying 0 points,     3.625%  – $0 costs

15 year fixed:   2.625% paying .96 points,     2.875% paying 0 points,     2.99% – $0 costs

5/1 ARM:   2.25% paying 76 points,     2.5% paying 0 points,     2.75% – $0 costs

7/1 ARM:    2.375% paying 1 point,     2.75% paying 0 points,     3%- $0 costs

30 year fixed High Balance Loan:    3.5% paying .94 points;     3.625% – 0 points;    3.75% – $0 costs

30 year fixed FHA:    3% paying .51 pts;    3.25% – $0 costs

15 year fixed FHA:    2.5% paying .8 points;     2.75% – $0 costs

30 year fixed VA:    3.25% – $0 costs

TR - 12-17-2012

Today’s Mortgage Interest Rates.  Current Mortgage Interest Rates and APRs for refinancing and purchasing in Arizona, California, and Colorado.  Arizona Home Loans, California Home Loans, Colorado Home Loans.  Mortgage Rate Sheets for fixed mortgages, ARM mortgages, Variable Mortgages, Interest Only Mortgages, HARP mortgages, HARP 2.0 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 mortgages, Conforming mortgages, Conventional Mortgages, 100%  Financing Mortgage, High Balance Mortgages, Fannie Mae mortgages, Freddie Mac Mortgages, No appraisal refinances, 0 point mortgages, 0 closing cost mortgages, paying a point mortgages, Refinance mortgages, purchase mortgages, and Jumbo Mortgages.

INTEREST RATES MOVE HIGHER – 30 YEAR FIXED TO 3.375%

TODAY’S INTEREST RATES

TODAY’S INTEREST RATES

November 26th, 2012

I hope everyone had a happy and safe Thanksgiving!!

Interest rates rose last week with the Mortgage Backed Security market trading down (-53 bps).  The stock market has been doing very well recently with optimism that a Fiscal Cliff deal will get done and positive signs from the economy.

I think the stock market is probably overbought a little bit, so I expect some rate improvement this week.  On Monday morning, the MBS market is trading up (+22 bps), so rates should improve from their close on Friday.  I do not expect a huge change in pricing, but I do predict some movement in a positive direction for interest rates.

The Holidays are usually a popular time to refinance.  You always get a 1 month payment deferral on your mortgage, and you get refund from your old escrow account after closing if you impound your taxes and insurance in your payment.  I can still get most loans done today by Christmas.  If you are interested in lowering your payment and getting some extra cash in your pocket for the Holidays, please call me today.

TODAY’S RATES:

30 year fixed:     3.375% paying .43 points,     3.5% paying 0 points,     3.625% – $0 costs

20 year fixed:   3.25% paying .43 points,     3.375% paying 0 points,     3.5%  – $0 costs

15 year fixed:   2.75% paying .46 points,     2.875% paying 0 points,     3.125% – $0 costs

5/1 ARM:   2.125% paying .96 points,     2.5% paying 0 points,     2.75% – $0 costs

7/1 ARM:    2.375% paying .89 points,     2.625% paying 0 points,     2.875%- $0 costs

30 year fixed High Balance Loan:    3.5% paying .61 points;     3.625% – 0 points;    3.75% – $0 costs

30 year fixed FHA:    3.25% – $0 costs

15 year fixed FHA:    2.75% – $0 costs

30 year fixed VA:    3.25% – $0 costs

Today’s Mortgage Interest Rates.  Current Mortgage Interest Rates and APRs for refinancing and purchasing in Arizona, California, and Colorado.  Arizona Home Loans, California Home Loans, Colorado Home Loans.  Mortgage Rate Sheets for fixed mortgages, ARM mortgages, Variable Mortgages, Interest Only Mortgages, HARP mortgages, HARP 2.0 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 mortgages, Conforming mortgages, Conventional Mortgages, 100%  Financing Mortgage, High Balance Mortgages, Fannie Mae mortgages, Freddie Mac Mortgages, No appraisal refinances, 0 point mortgages, 0 closing cost mortgages, paying a point mortgages, Refinance mortgages, purchase mortgages, and Jumbo Mortgages.

Today’s Interest Rates.

INTEREST RATES RISE SLIGHTLY – 30 YEAR FIXED PAR RATE STILL AT 3.25%

INTEREST RATES RISE SLIGHTLY  –  30 YEAR FIXED PAR RATE STILL AT 3.25%

November 19th, 201

Interest rates rose slightly last week with the stock market optimistic that a deal will get done to avoid the fiscal cliff.

The Mortgage backed security market closed last week down (-28 bps), and is currently trading on Monday down (-11 bps). 

On Friday, President Obama met with other political leaders to discuss the fiscal cliff.  Both sides seem to be softening their stance so the stock market is optimistic that a deal will get done – which is pushing stocks up and mortgage backed securities down.

This is a shortened week due to the Thanksgiving Holiday. 

On Monday, housing data was released that continues to show the housing market improving.  On Tuesday, The European Union is meeting with Greece regarding additional funds to avoid the country defaulting on it’s debt.  Ben Bernanke is also speaking at the NY Economics Club.  The market will be listening for clues on the Fed’s next move.

Rates are still trading in narrow ranges with the same rates available with fluctuating costs depending on how the market is moving.  30 Year Fixed rates at 3.25% are still available paying a point.  I see interest rates remaining in this range through the end of 2012. 

Have a Happy and Safe Thanksgiving!!

TODAY’S RATES:

30 year fixed:     3.25% paying 1 point,     3.5% paying 0 points,     3.625% – $0 costs

20 year fixed:   3.25% paying .38 points,     3.375% paying 0 points,     3.5%  – $0 costs

15 year fixed:   2.75% paying .42 points,     2.875% paying 0 points,     3.125% – $0 costs

5/1 ARM:   2.125% paying .89 points,     2.5% paying 0 points,     2.75% – $0 costs

7/1 ARM:    2.375% paying .74 points,     2.625% paying 0 points,     2.875%- $0 costs

30 year fixed High Balance Loan:    3.5% paying .34 points;     3.625% – $0 costs

30 year fixed FHA:    3.25% – $0 costs

15 year fixed FHA:    2.75% – 0 points,     2.875% – $0 costs

30 year fixed VA:    3.25% – $0 costs


Today’s Mortgage Interest Rates.  Current Mortgage Interest Rates and APRs for refinancing and purchasing in Arizona, California, and Colorado.  Arizona Home Loans, California Home Loans, Colorado Home Loans.  Mortgage Rate Sheets for fixed mortgages, ARM mortgages, Variable Mortgages, Interest Only Mortgages, HARP mortgages, HARP 2.0 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 mortgages, Conforming mortgages, Conventional Mortgages, 100%  Financing Mortgage, High Balance Mortgages, Fannie Mae mortgages, Freddie Mac Mortgages, No appraisal refinances, 0 point mortgages, 0 closing cost mortgages, paying a point mortgages, Refinance mortgages, purchase mortgages, and Jumbo Mortgages.

INTEREST RATES RISE SLIGHTLY  –  30 YEAR FIXED PAR RATE STILL AT 3.25%

INTEREST RATES IMPROVE – UNCERTAINTY LOOMS WITH HURRICANE SANDY, THE ELECTION AND THE FISCAL CLIFF

INTEREST RATES IMPROVE – UNCERTAINTY LOOMS WITH HURRICANE SANDY, THE ELECTION AND THE FISCAL CLIFF:

October 31st, 2012

Happy Halloween!!

Interest rates improved slightly last week with the MBS market closing up (+ 9 bps).  Mortgage rate pricing was higher for most of the week – but a rally on Friday ended the week with the MBS market in positive territory. 

Markets have been closed the majority of this week due to Hurricane Sandy.  So far this week, the MBS market is trading up (+16 bps). 

MORTGAGE RATE OUTLOOK:

Above is a mortgage rate graph taken from bankrate.com which surveys the average mortgage rates funded every week.  Current rates are quite a bit lower than they were in August – but not as low as the end of September / early October.

Most experts agree that the lowest mortgage rates are past us.  I expect rates to stay in their current range through the end of the year – with some swings up and down in the process.

Even though I don’t expect rates to change much through 2012, there are a lot of events coming up that could cause movement.

CONFLICTING ECONOMIC DATA:

Rates typically go up when the economy improves.  Right now we are seeing a lot of conflicting economic data.

We have stronger retail sales reports, increasing construction and more applications for building permits.  But we are also seeing many large corporations reporting lower than expected earnings numbers. 

Hurricane Sandy will also likely slow economic growth in many parts of the country, which could cause investors to pull money from the stock market and into the bond market.

THE ELECTION:

Many consumers think that the Presidential election has a huge effect on the mortgage rate market.  I don’t really think it does nor will this time.

Regardless of who wins – the US economy doesn’t change overnight.  The bigger impact will be when Barrack Obama or Mitt Romney enact new economic policies that affect business profitability and growth.

THE FISCAL CLIFF:

I think this issue is probably the one event that can change interest rates the most. 

The US Treasury is set to hit their debt ceiling near the end of 2012 – and a deal needs to be completed for the US Treasury to be able to borrow money to meet their obligations.

If a deal is not completed – the government may have to stop providing Medicare benefits, Social Security benefits, military salaries, tax refunds, etc.

I think this is too much of a political issue for some type of deal to not get done, but the details of the deal and how it affects future government borrowing could have a big effect on the economic market. 

LOCK RECOMMENDATION:

I still recommend locking mortgage pricing.  There is more risk in rates going up than the benefit of them going down.

Rates are still very close to all time lows and experts don’t think that rates will hit that level again.  So there is not much room for rates to go down, and much more room for them to go up.

If a rate is beneficial, lock it.    

MY BEST VALUE OF THE WEEK:

30 Year Fixed at 3.625% with $0 costs

30 Year Fixed High Balance Loan at 3.625% with $0 costs

TODAY’S RATES:

30 year fixed:   3.25% paying .99 points,     3.5% paying 0 points,     3.625% – $0 costs

20 year fixed:   3.25% paying .66 points,     3.375% paying 0 points,     3.625%  – $0 costs

15 year fixed:    2.625% paying .82 points,     2.875% paying 0 points,     3.125% – $0 costs

5/1 ARM:   2.25% paying .9 points,     2.625% paying 0 points

7/1 ARM:   2.5% paying .54 points,     2.75% paying 0 points,     3.25%- $0 costs

30 year fixed High Balance Loan:   3.5% paying .16 points;     3.625% – $0 costs

30 year fixed FHA:   3.25% – $0 costs

15 year fixed FHA:   2.75% – $0 costs

30 year fixed VA:  3.25% – $0 costs

Today’s Mortgage Interest Rates.  Current Mortgage Interest Rates and APRs for refinancing and purchasing in Arizona, California, and Colorado.  Arizona Home Loans, California Home Loans, Colorado Home Loans.  Mortgage Rate Sheets for fixed mortgages, ARM mortgages, Variable Mortgages, Interest Only Mortgages, HARP mortgages, HARP 2.0 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 mortgages, Conforming mortgages, Conventional Mortgages, 100%  Financing Mortgage, High Balance Mortgages, Fannie Mae mortgages, Freddie Mac Mortgages, No appraisal refinances, 0 point mortgages, 0 closing cost mortgages, paying a point mortgages, Refinance mortgages, purchase mortgages, and Jumbo Mortgages.

INTEREST RATES IMPROVE – UNCERTAINTY LOOMS WITH HURRICANE SANDY, THE ELECTION AND THE FISCAL CLIFF:

INTEREST RATES RISE – WHERE WILL MORTGAGE RATES GO FROM HERE?

INTEREST RATES RISE – WHERE WILL MORTGAGE RATES GO FROM HERE?

October 22nd, 2012

Last week was a pretty tough week for interest rates. Mortgage pricing went up Monday through Thursday, but a rally on Friday pulled interest rates back down a bit.

The Mortgage Backed Security market closed last week trading (-64 bps). On Monday, the market is currently trading down (– 8 bps).

WHERE WILL MORTGAGE RATES GO FROM HERE?

Most agree that rates will not rise substantially with the weakening MBS market. Even though rates have trended up for the majority of two weeks, rates are still very low.

Mortgage rates will likely stay in the range they are now. I don’t think rates will go lower than the rate pricing we saw a couple of weeks ago, but I also don’t see them going substantially up from where they are now.

Confidence in the economy is growing which will typically cause a rise in rates. But the FED introducing QE3 will help them remain low for the rest of 2012.

THIS WEEK:

This week starts with the Presidential Debate on Monday. The Treasury will begin a 99 billion note auction on Tuesday. The Federal Open Market Committee is meeting on Tuesday with a press release on Wednesday. September results from new homes sales are released on Wednesday.

Barring any unforeseen events – I am hoping that rates will improve a little bit this week, but I don’t see anything too drastic happening one way or the other.

My lock recommendation is to lock on any rate improvement this week. 

My Best Value of the week:

15 Year Fixed at 2.99% paying $0 costs

 

Below are rates available today paying a point or less:

30 year fixed: 3.375% paying .70 points,     3.5% paying 0 points,     3.625% – $0 costs
20 year fixed: 3.25% paying .88 points,     3.5% paying 0 points,     3.625% – $0 costs
15 year fixed: 2.625% paying .82 points,     2.875% paying 0 points,      2.99% – $0 costs
5/1 ARM: 2.25% paying .85 points,     2.625% paying 0 points
7/1 ARM: 2.5% paying .59 points,     2.75% paying 0 points
30 year fixed High Balance Loan: 3.5% paying .43 points;     3.625% paying 0 points,     3.75% – $0 costs
30 year fixed FHA: 3.25% – $0 costs
15 year fixed FHA: 2.75% – $0 costs
30 year fixed VA: 3.25% – $0 costs

Today’s Mortgage Interest Rates. Current Mortgage Interest Rates and APRs for refinancing and purchasing in Arizona, California, and Colorado. Arizona Home Loans, California Home Loans, Colorado Home Loans. Mortgage Rate Sheets for fixed mortgages, ARM mortgages, Variable Mortgages, Interest Only Mortgages, HARP mortgages, HARP 2.0 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 mortgages, Conforming mortgages, Conventional Mortgages, 100% Financing Mortgage, High Balance Mortgages, Fannie Mae mortgages, Freddie Mac Mortgages, No appraisal refinances, 0 point mortgages, 0 closing cost mortgages, paying a point mortgages, Refinance mortgages, purchase mortgages, and Jumbo Mortgages.

INTEREST RATES RISE   –    WHERE WILL MORTGAGE RATES GO FROM HERE?

MORTGAGE RATES INCH HIGHER – 30 YEAR FIXED TO 3.375%

MORTGAGE RATES INCH HIGHER – 30 YEAR FIXED TO 3.375%

October 8th, 2012

Last week the mortgage backed security market told 2 stories. 

The MBS market closed (+ 50 bps) from Monday to Tuesday.  This continued the trend of rates dropping since the FED announced QE3.  But every positive interest rate streak will eventually end and pull back the other way.

From Wednesday to Friday, the MBS market closed down (– 84 bps), finishing the week (– 34 bps). 

The week was capped off with the September unemployment rate dropping from 8.1% to 7.8% with 114,000 new jobs created.  There was a lot of controversy regarding the validity of the report – but either way the MBS market had a mini sell off and closed the week down. 

Mortgage rates are still very low, but a bit higher than their previous lows.  The bond market is closed Monday due to Columbus Day. 

I don’t expect a ton of rate movement next week, but I do think rates may improve a bit, taking back some of the losses of last week.

Keep in mind most news websites/channels report when rates drop but not so much when they rise.  Rates are always fluctuating until a loan is locked.

My best value of the week:

30 Year Fixed at 3.5% paying 0 points

Below are rates available today paying a point or less:

30 year fixed:  3.375% paying .69 points, 3.5% paying 0 points

20 year fixed:  3.25% paying .79 points, 3.5% paying 0 points

15 year fixed:  2.75% paying .81 points, 3% paying 0 points

5/1 ARM:  2.25% paying .98 points, 2.75% paying 0 points

7/1 ARM  :2.5% paying .77 points, 2.75% paying 0 points

30 year fixed High Balance Loan:  3.5% paying .49 points; 3.625% paying 0 points

30 year fixed FHA:  3.25% paying 0 points

15 year fixed FHA:  2.75% paying 0 points

30 year fixed VA:  3.25% paying 0 points

Today’s Mortgage Interest Rates.  Current Mortgage Interest Rates and APRs for refinancing and purchasing in Arizona, California, and Colorado.  Arizona Home Loans, California Home Loans, Colorado Home Loans.  Mortgage Rate Sheets for fixed mortgages, ARM mortgages, Variable Mortgages, Interest Only Mortgages, HARP mortgages, HARP 2.0 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 mortgages, Conforming mortgages, Conventional Mortgages, 100%  Financing Mortgage, High Balance Mortgages, Fannie Mae mortgages, Freddie Mac Mortgages, No appraisal refinances, 0 point mortgages, 0 closing cost mortgages, paying a point mortgages, Refinance mortgages, purchase mortgages, and Jumbo Mortgages.

Mortgage Rates Inch Higher – 30 Year Fixed to 3.375%

30 YEAR FIXED AT 3.25% – MORTGAGE RATES REACH NEW ALL TIME LOW!!

30 YEAR FIXED AT 3.25% – MORTGAGE RATES REACH NEW ALL TIME LOW!!

September 22nd, 2012

The MBS market closed last week trading up (+ 112 bps).

Rates are the lowest they have ever been right now. 

Most customers can get a 3.5% 30 year fixed with absolutely $0 costs.  15 year fixed at 3% with absolutely $0 costs.  Lower rates are available paying fees.

The Fannie Mae guaranteed fee increase isn’t in all lender’s rate pricing yet.  Rates this low usually don’t last long.  This is a great opportunity to take advantage of once in a lifetime low rates.

My best values of the week:

30 Year Fixed at 3.375% with 0 points

15 Year Fixed at 2.875% with 0 points

30 Year Fixed High Balance Loan at 3.5% with 0 points

Below are rates available today paying a point or less:

30 year fixed:  3.25% paying .51 point, 3.375% paying 0 points

20 year fixed:  3.25% paying 0 points

15 year fixed:  2.625% paying .95 points, 2.875% paying 0 points

5/1 ARM:  2.125% paying .97 points, 2.5% paying 0 points

7/1 ARM:  2.375% paying .84 points, 2.625% paying 0 points

30 year fixed High Balance Loan:  3.375% paying .43 points, 3.5% paying 0 points

30 year fixed FHA:  3.25% paying 0 points

15 year fixed FHA:  2.75% paying 0 points

30 year fixed VA:  3.25% paying 0 points

Today’s Mortgage Interest Rates.  Current Mortgage Interest Rates and APRs for refinancing and purchasing in Arizona, California, and Colorado.  Arizona Home Loans, California Home Loans, Colorado Home Loans.  Mortgage Rate Sheets for fixed mortgages, ARM mortgages, Variable Mortgages, Interest Only Mortgages, HARP mortgages, HARP 2.0 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 mortgages, Conforming mortgages, Conventional Mortgages, 100%  Financing Mortgage, High Balance Mortgages, Fannie Mae mortgages, Freddie Mac Mortgages, No appraisal refinances, 0 point mortgages, 0 closing cost mortgages, paying a point mortgages, Refinance mortgages, purchase mortgages, and Jumbo Mortgages.

30 YEAR FIXED AT 3.25% – MORTGAGE RATES CREATE NEW ALL TIME LOW!!

 

MORTGAGE RATES SURPASS ALL TIME LOWS WITH THE FED’S 40 BILLION BOND PURCHASE ANNOUNCEMENT

MORTGAGE RATES SURPASS ALL TIME LOWS WITH THE FED’S 40 BILLION BOND PURCHASE ANNOUNCEMENT:

September 17th, 2012

The MBS market closed last week trading up (+ 28 bps).

The big news happened on Thursday when the FED announced they would purchase 40 Billion in Mortgage Backed Securities per month until the economy improves.  This sent the MBS market way up, and mortgage pricing to all time low levels.   The MBS market ended up closing + 134 bps on Thursday alone.  On Friday and Monday, the Mbs market gave some gains back, closing – 62 bps on Friday, and – 3 bps on Monday.

The elephant in the room is still the Fannie Mae and Freddie Mac guaranteed fee increase.  These will be hitting all rate sheets very soon.  As a direct lender, my bank has 8 big banks that provide us credit lines in which to fund loans.  All but 2 have increased pricing due to the Fannie Mae pricing announcement.  The others could happen at any time.  That is why I am recommending locking loans as soon as possible to take advantage of where current pricing is before the pricing goes up on all rate sheets. 

The risk of waiting is not worth the reward at this point as the market will have to improve by .5 to .625% in costs just to take back the losses as a result of the Guaranteed Fee increase when it goes into effect.

Below are rates available today paying a point or less:

30 year fixed:  3.375% paying .43 point, 3.5% paying 0 points

20 year fixed:  3.25% paying .59 points, 3.375% paying 0 points

15 year fixed:  2.75% paying .65 points, 2.875% paying 0 points

5/1 ARM:  2.25% paying .43 points, 2.5% paying 0 points

7/1 ARM:  2.25% paying .87 points, 2.625% paying 0 points

30 year fixed High Balance Loan:  3.5% paying .36 points, 3.625% paying 0 points

30 year fixed FHA:  3.25% paying 0 points

15 year fixed FHA:  2.75% paying 0 points

30 year fixed VA3.25% paying 0 points

Today’s Mortgage Interest Rates.  Current Mortgage Interest Rates and APRs for refinancing and purchasing in Arizona, California, and Colorado.  Arizona Home Loans, California Home Loans, Colorado Home Loans.  Mortgage Rate Sheets for fixed mortgages, ARM mortgages, Variable Mortgages, Interest Only Mortgages, HARP mortgages, HARP 2.0 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 mortgages, Conforming mortgages, Conventional Mortgages, 100%  Financing Mortgage, High Balance Mortgages, Fannie Mae mortgages, Freddie Mac Mortgages, No appraisal refinances, 0 point mortgages, 0 closing cost mortgages, paying a point mortgages, Refinance mortgages, purchase mortgages, and Jumbo Mortgages.

MORTGAGE RATES SURPASS ALL TIME LOWS WITH THE FED’S 40 BILLION BOND PURCHASE ANNOUNCEMENT

MORTGAGE RATES REBOUND – 30 YEAR FIXED BACK TO 3.5%

MORTGAGE RATES REBOUND – 30 YEAR FIXED BACK TO 3.5%

August 27th, 2012

The MBS market closed last week trading up (+ 81 bps) and on Monday the MBS market closed trading up ( + 19 bps).    

So over the past week and 1 day, the MBS market is trading up +100 bps and rates have improved dramatically after going higher in hurry the week before last.

We still stand in a market where rates will likely stay low, but if they do go up, they can go up quickly.  All eyes this week are on Ben Bernanke’s speech at the Jackson Hole economic conference on Friday.   Experts are about 50/50 on whether the FED will ease and buy more mortgage backed securities in the future.  This speculation and Europe’s debt situation has dominated mortgage markets for most of this year. 

The Fed will move to ease if it thinks the economy needs it.  I don’t see it happening as the past 2 Fed purchase programs have kept rates low, but they haven’t improved the economic numbers and have bloated the FED’s balance sheet.  Either way, expect rate movement in one direction or the other depending on what Bernanke hints towards in his speech.

College football is here, and my family and I are super excited.  Growing up in Michigan, I have always been a huge Michigan Wolverine Fan.  On a trip to Michigan this week, I was able to visit the Big House and catch a glimpse of Denard Robinson outside Schembechler Hall.  Very cool – here is my son and hopefully future Wolverine, at the gates of the big house. 

My best value of the week:

15 Year Fixed at 2.99% with 0 points

Below are rates available today paying a point or less:

30 year fixed:  3.5% paying .411 points, 3.625% paying 0 points

20 year fixed:  3.25% paying .937 points, 3.5% paying 0 points

15 year fixed:  2.75% paying .938 points, 2.99% paying 0 points

5/1 ARM:  2.125% paying .99 points, 2.5% paying 0 points

7/1 ARM:  2.375% paying .795 points, 2.625% paying 0 points

30 year fixed High Balance Loan:  3.625% paying .603 points, 3.875% paying 0 points

30 year fixed FHA:  3.25% paying 0 points

15 year fixed FHA:  2.75% paying 0 points

30 year fixed VA3.25% paying 0 points

Today’s Mortgage Interest Rates.  Current Mortgage Interest Rates and APRs for refinancing and purchasing in Arizona, California, and Colorado.  Arizona Home Loans, California Home Loans, Colorado Home Loans.  Mortgage Rate Sheets for fixed mortgages, ARM mortgages, Variable Mortgages, Interest Only Mortgages, HARP mortgages, HARP 2.0 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 mortgages, Conforming mortgages, Conventional Mortgages, 100%  Financing Mortgage, High Balance Mortgages, Fannie Mae mortgages, Freddie Mac Mortgages, No appraisal refinances, 0 point mortgages, 0 closing cost mortgages, paying a point mortgages, Refinance mortgages, purchase mortgages, and Jumbo Mortgages.

MORTGAGE RATES REBOUND – 30 YEAR FIXED BACK TO 3.5%

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