Rates Improve after Employment report , The Return of the No Appraisal Refinance

RATES IMPROVE AFTER EMPLOYMENT REPORT

November 10th, 2014

Interest rates improved to 1.5 week lows after October’s employment report was released on Friday. Non Farm Payroll jobs increased 214,000 in October but were lower than expectations of 235,000 plus. The Mortgage Backed Security (MBS) market closed up + 46 bps on Friday alone – taking back the losses from earlier in the week and closing the week positive + 25 bps.

On Monday the bond market pulled back taking some of the gains from Friday – closing down -31 bps on the Day. The bond Market is closed for Veterans day. Thank you to all the Veterans out there that have served our country.

Interest rates are very similar to where they started last week. Retail sales will be the biggest report of the week on Friday.

For a free email mortgage quote, please answer questions on the right or go to http://www.freemortgagequote.biz

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

THE RETURN OF THE NO APPRAISAL REFINANCE

With Fannie Mae’s new version of their underwriting system DU – mortgage bankers and their clients are seeing a welcome change in the return of the PIW

PIW stands for Property Inspection Waiver.

When running a Fannie Mae Approval – sometimes Fannie Mae’s system grants a PIW which allows us to complete the loan without getting an actual appraisal. These No appraisal refinances are not for upside down homes, lower credit borrowers, cash out loans, etc. They are typically granted when there is a decent amount of equity based on average prices in the area and they are usually granted for higher credit score borrowers.

The purpose is to allow someone that has equity and great credit to get a loan without having to physically get an appraisal.

This is a welcome return – as it allows well qualified customers to complete a refinance without an out pocket expense and we can usually close the loan very quickly.

BEST VALUE OF THE WEEK:

30 Year Fixed at 4.125% paying 0 points

5/1 ARM at 3.125% paying 0 points

TODAY’S INTEREST RATES:

30 year fixed: 4% – .25 points (4.05% APR), 4.125% – 0 points (4.15% APR)

20 year fixed: 3.625% – 1 points (3.72% APR), 3.875% – 0 points (3.78% APR)

15 year fixed: 3.125% – .625 points (3.24% APR), 3.375% – 0 points (3.38% APR)

10 year fixed: 2.875% – .875 points (3.0% APR), 3.125% – 0 points (3.13% APR)

5/1 ARM: 2.875% – .75 points (3.025% APR), 3.125% – 0 points (3.128% APR)

7/1 ARM: 3.125% – .875 points (3.28% APR), 3.375% – 0 points (3.39% APR)

30 year fixed FHA: 3.5% – .375 points (4.58% APR), 3.625% – 0 points (4.625% APR)

15 year fixed FHA: 2.875% – 1 point (3.375% APR), 3.125% – 0 points (3.425% APR)

30 year fixed VA: 3.5% – .625 points (3.62% APR), 3.75% – 0 points (3.78% APR)

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. Arizona refinance, California refinance, Colorado refinance. Scottsdale, Arizona Mortgage Banker in McCormick Ranch. McCormick Ranch Loan Officer. Mortgage Rate Sheets 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. November 10th 2014 30 year fixed rates, November 11th2014 30 year fixed rates, November 12th 2014 30 year fixed rates, November 13th 2014 30 year fixed rates, November 14th 2014 30 year fixed rates, November 15th 2014 30 year fixed rates, November 16th 2014 30 year fixed rates.

Rates Improve after Employment report – but then pull back

RATES CONTINUE TO IMPROVE , PAYROLL REPORT ON FRIDAY

Rates Continue to Improve , Payroll report on Friday

September 30th, 2014

Interest rates continued to steadily improve over the past week. The Mortgage Backed Security market (MBS) closing last week up + 35 bps, and closed Monday up + 14 bps.

The effect on interest rates is lower costs available at each rate.

30 Year Fixed rates settled in at 4.125% costing .1 points, and 15 year fixed rates remained at 3.25% with lower fees – .5 points.

The MBS and interest rate markets are still being helped by Europe’s economic situation and various geo-political concerns across the globe. On Friday – the most important economic report of all – the September non farm payroll jobs report will be released. I always recommend locking in before this is released because interest rates have the opportunity to move quickly depending on the results of job creation versus market expectations.

For a free email mortgage quote, please answer questions on the right or go to http://www.freemortgagequote.biz

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

BEST VALUE OF THE WEEK:

30 Year Fixed at 4.25% paying 0 points

20 Year Fixed at 4.0% paying 0 points

TODAY’S INTEREST RATES:

30 year fixed: 4.125% – .1 points (4.145% APR), 4.25% – 0 points (4.28% APR)

20 year fixed: 3.75% – .78 points (3.89% APR), 4% – 0 points (4.05% APR)

15 year fixed: 3.25% – .5 points (3.35% APR), 3.375% – 0 points (3.4% APR)

10 year fixed: 3.125% – .39 points (3.19% APR), 3.375% – 0 points (3.39% APR)

5/1 ARM: 2.75% – .76 point (2.9% APR), 3% – 0 points (3.05% APR)

7/1 ARM: 3% – .9 points (3.18% APR), 3.375% – 0 points (3.4% APR)

30 year fixed FHA: 3.625% – .67 points (4.74% APR), 3.75% – 0 points (4.75% APR)

15 year fixed FHA: 3% – .59 points (3.42% APR), 3.25% – 0 points (3.55% APR)

30 year fixed VA: 3.75% – 0 points (3.82% APR)

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. Arizona refinance, California refinance, Colorado refinance. Scottsdale, Arizona Mortgage Banker in McCormick Ranch. McCormick Ranch Loan Officer. Mortgage Rate Sheets 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. September 30th 2014 30 year fixed rates, October 1st 2014 30 year fixed rates, October 2nd 2014 30 year fixed rates, October 3rd 2014 30 year fixed rates, October 4th 2014 30 year fixed rates, October 5th 2014 30 year fixed rates, October 6th 2014 30 year fixed rates.

Rates Continue to Improve , Payroll report on Friday

RATES MOVE HIGHER WITH EMPLOYMENT REPORT / MARCH RATE LOCK SPECIAL

RATES MOVE HIGHER WITH EMPLOYMENT REPORT / MARCH RATE LOCK SPECIAL

March 10th, 2014

Rates moved higher 4 of the 5 days last week with the mortgage backed security market closing the week down – 94 bps. The week was capped with the February employment report which beat estimates for the first time in many months.

Non-farm payroll jobs increased 175k versus estimates of 139k. This shot the MBS market way down on Friday, closing at their highest levels since mid January. Unfortunately, this report usually points the direction for interest rates in the coming month. The good jobs report along with a FED meeting in March where the FED is expected to lower it’s bond purchases by another 10 billion, lead me to believe that this will not be a good month for interest rates.

My company is still offering a limited time March rate lock special. This special is off setting the rise in rate pricing with discount of:

.375 bps off conforming fixed loans
.5 bps off FHA/VA fixed loans

Please contact me if you would like to take advantage of the March rate lock special.

For a free email mortgage quote, please go to mortgage quote tab on the right side of this page. Below are today’s interest rates and have a wonderful week!!

BEST VALUE OF THE WEEK:

20 Year Fixed at 4.25% with 0 points

10 Year Fixed at 3.25% with 0 points

TODAY’S INTEREST RATES:

30 year fixed: 4.375% – .51 points, 4.5% – 0 points, 4.625% – $0 costs

20 year fixed: 4.125% – .32 points, 4.25% – 0 points, 4.375% – $0 costs

15 year fixed: 3.375% – .36 points, 3.5% – 0 points, 3.625% – $0 costs

10 year fixed: 3% – .7 points, 3.25% – 0 points, 3.5% – $0 costs

5/1 ARM: 2.75% – .96 points, 3% – 0 points, 3.375% – $0 costs

7/1 ARM: 3.125% – .97 points, 3.375% – 0 points, 3.625% – $0 costs

30 year fixed FHA: 3.75% – .77 points, 4% – 0 points, 4.125% – $0 costs

15 year fixed FHA: 3.25% – 0 points, 3.375% – $0 costs

30 year fixed VA: 3.75% – .5 points, 3.875% – 0 points, 4.125% – $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. Arizona refinance, California refinance, Colorado refinance. Scottsdale, Arizona Mortgage Banker in McCormick Ranch. McCormick Ranch Loan Officer. 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 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. March 10th 2014 30 year fixed rates, March 11th 2014 30 year fixed rates, March 12th 2014 30 year fixed rates, March 13th 2014 30 year fixed rates, March 14th 2014 30 year fixed rates, March 15th 2014 30 year fixed rates, March 16th 2014 30 year fixed rates.

RATES MOVE HIGHER WITH EMPLOYMENT REPORT / MARCH RATE LOCK SPECIAL

INTEREST RATE PRICING STAYS IN NARROW RANGE

INTEREST RATE PRICING STAYS IN NARROW RANGE

February 10th, 2014

Interest rate pricing was all over the place last week. On Monday, interest rates hit their lowest levels in about 3 months. Interest rates went higher the rest of the week until the January employment report was released on Friday. For the third month straight, job creation was lower than forecasts. This would normally cause a big movement for better interest rates but the improvement wasn’t as much as expected.

Overall on the week, the Mortgage Backed Security market traded lower – 6 bps. When the dust settled, interest rate pricing remained in a narrow range and mortgage interest rates are basically where they were at the beginning of last Monday.

In 2014, interest rates have fallen at some of the fastest levels in the past 2 years. The main reason is usually interest rate pricing fluctuates more going up and down, but interest rates have improved for 5 week straight weeks before last week.

There is some concern that the lower trend has come to an end with the market not moving as much as expected with a poor employment report. It’s tough to call right now, but I see interest rates remaining fairly stable for the time being. There is still a limit to how much interest rates can really improve with the FED tapering. The interest rates in the low 3%’s won’t be back, but you could see interest rates going a little bit lower than today’s levels.

This week Janet Yellen will make her first testimony to Congress. Not much new information is expected to be deemed from this testimony, but it will be her first time before Congress as the new FED Cheif.

Have a great week!!

BEST VALUE OF THE WEEK:

15 Year Fixed at 3.5% with 0 points

7/1 ARM at 3.375% with 0 points

TODAY’S RATES:

30 year fixed: 4.25% – .8 points, 4.5% – 0 points, 4.625% – $0 costs

20 year fixed: 4% – 1 point, 4.25% – 0 points, 4.375% – $0 costs

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

10 year fixed: 3% – .66 points, 3.25% – 0 points, 3.5% – $0 costs

5/1 ARM: 2.75% – 1 point, 3.125% – 0 points, 3.5% – $0 costs

7/1 ARM: 3.125% – .88 points, 3.375% – 0 points, 3.625% – $0 costs

30 year fixed FHA: 3.75% – .6 points, 3.875% – 0 points, 4.125% – $0 costs

15 year fixed FHA: 3.25% – 0 points 3.5% – $0 costs

30 year fixed VA: 3.75% – .42 points, 3.875% – 0 points, 4.125% – $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. Arizona refinance, California refinance, Colorado refinance. Scottsdale, Arizona Mortgage Banker in McCormick Ranch. McCormick Ranch Loan Officer. 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 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. February 10th 2014 30 year fixed rates, February 11th 2014 30 year fixed rates, February 12th 2014 30 year fixed rates, February 13th 2014 30 year fixed rates, February 14th 2014 30 year fixed rates, February 15th 2014 30 year fixed rates, February 16th 2014 30 year fixed rates, February 17th 2014 30 year fixed rates.

INTEREST RATE PRICING STAYS IN NARROW RANGE

INTEREST RATES CREATE NEW LOWS FOR 2014!!

INTEREST RATES CREATE NEW LOWS FOR 2014

January 27th, 2014

Interest rates continued their hot streak ahead of the FED statement on Wednesday. Mortgage interest rates pushed to new lows in 2014 with the stock markets having a big sell off and investors transferring money into safer investments.

This improvement in rates could be temporary depending on if the stock markets bounce back. I would strongly recommend locking as these are the lowest rates I have seen in close to 2 months.

The Federal Open Market Committee (FOMC) will release a statement on Wednesday that will likely have a major impact on rate pricing. Experts are still torn on whether the FED will keep current bond purchasing levels or reduce them another 10 million.

If the FED reduces its bond purchasing again, expect to see rates bounce back higher.

Have a great week!!

BEST VALUE OF THE WEEK:

20 Year Fixed at 4.125% with 0 points

10 Year Fixed at 3.25% with 0 points

TODAY’S RATES:

30 year fixed: 4.25% – 1 point, 4.5% – 0 points, 4.625% – $0 costs

20 year fixed: 4% – .92 points, 4.125% – 0 points, 4.375% – $0 costs

15 year fixed: 3.375% – .73 points, 3.5% – 0 points, 3.75% – $0 costs

10 year fixed: 3% – .95 points, 3.25% – 0 points, 3.5% – $0 costs

5/1 ARM: 2.875% – .86 points, 3.125% – 0 points, 3.375% – $0 costs

7/1 ARM: 3.25% – .78 points, 3.5% – 0 points, 3.75% – $0 costs

30 year fixed FHA: 3.75% – .46 points, 3.875% – 0 points, 4.125% – $0 costs

15 year fixed FHA: 3.25% – 0 points 3.625% – $0 costs

30 year fixed VA: 3.75% – .43 points, 3.875% – 0 points, 4.25% – $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. Arizona refinance, California refinance, Colorado refinance. Scottsdale, Arizona Mortgage Banker in McCormick Ranch. McCormick Ranch Loan Officer. 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 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. January 26 2014 mortgage rates, January 27 2014 mortgage rates, January 28 2014 mortgage rates, January 29 2014 mortgage rates, January 30 2014 mortgage rates, January 31st 2014 mortgage rates, February 1st 2014 mortgage rates, February 2nd 2014 mortgage rates.

Interest Rates create new lows for 2014

INTEREST RATES DROP TO 1 MONTH LOWS

INTEREST RATES DROP TO 1 MONTH LOWS

January 13th, 2014

Interest rates finally gained some momentum after weeks of movement higher.

On Friday, the December employment report was released. Analysts predicted Non Farm Payroll Jobs to increase by 196,000 and the unemployment percentage to remain at 7%. The analysts vastly overestimated the increase, causing a huge movement in the bond markets and pushing rates lower by approximately .125%.

Non Farm Payroll jobs only increased by 74,000. Although the unemployment percentage dropped to 6.7%, much of that was due to people leaving the work force. Only 62.8% of the population is employed, which is the lowest level since 1976.

This is welcome news for rate watchers after interest rates have steadily climbed for weeks straight. With the FED tapering, the long term outlook is still for interest rates to climb higher. Now is a good time to consider locking in while price is improved.

Have a great week!!

BEST VALUE OF THE WEEK:

30 Year Fixed at 4.5% with 0 points

15 Year Fixed at 3.625% with 0 points

TODAY’S RATES:

30 year fixed: 4.375% – .97 points, 4.5% – 0 points, 4.625% – $0 costs

20 year fixed: 4.125% – .39 points, 4.25% – 0 points, 4.375% – $0 costs

15 year fixed: 3.375% – .99 points, 3.625% – 0 points, 3.75% – $0 costs

10 year fixed: 3.125% – .58 point, 3.375% – 0 points, 3.5% – $0 costs

5/1 ARM: 2.875% – .94 points, 3.125% – 0 points, 3.5% – $0 costs

7/1 ARM: 3.25% – .99 points, 3.625% – 0 points, 3.875% – $0 costs

30 year fixed FHA: 3.75% – 1 point, 4% – 0 points, 4.25% – $0 costs

15 year fixed FHA: 3.25% – .49 points, 3.5% – 0 points 3.625% – $0 costs

30 year fixed VA: 3.75% – .84 points, 4% – 0 points, 4.25% – $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. Arizona refinance, California refinance, Colorado refinance. Scottsdale, Arizona Mortgage Banker in McCormick Ranch. McCormick Ranch Loan Officer. Scottsdale Loan Officer. Scottsdale mortgage, McCormick Ranch mortgage, 30 Year Fixed Mortgage rates, 20 year fixed Mortgage rates, 15 year fixed mortgage rates, 10 year fixed mortgage rates, 5/1 ARM mortgage rates, 7/1 ARM mortgage rates, 10/1 ARM mortgage rates, ARM mortgage rates, Variable Mortgage rates, Interest Only Mortgage rates, HARP mortgage rates, HARP 2.0 mortgage rates, HARP 3.0 mortgage rates, DU Refi Plus Mortgage rates, Freddie Mac Open Access Mortgage rates, Fannie Mae Home Path Mortgage rates, Freddie Mac Foreclosure Relief Mortgage rates, 30 Year Fixed VA rates, 15 year fixed VA rates,VA mortgages rates, VA Interest Rate Reduction Loan rates, VA IRRL rates, FHA mortgage rates, 30 Year Fixed FHA rates, 15 year fixed FHA rates, FHA streamline refinance mortgage rates, Conforming mortgage rates, Conventional Mortgage rates, 100% Financing Mortgage, High Balance Mortgage rates, Fannie Mae mortgage rates, Freddie Mac Mortgage rates, No appraisal refinance, 0 point mortgages, 0 closing cost mortgages, paying a point mortgages, $0 closing costs home loan, Refinance mortgages, purchase mortgages, and Jumbo Mortgages. January 13th 30 year fixed rates, January 14th 30 year fixed rates, January 15th 30 year fixed rates, January 16th 30 year fixed rates, January 17th 30 year fixed rates, January 18th 30 year fixed rates, January 19th 30 year fixed rates, January 20th 30 year fixed rates

INTEREST RATES DROP TO 1 MONTH LOWS

TODAY’S INTEREST RATES / NEW .5% DOWN PAYMENT PROGRAM

TODAY’S INTEREST RATES / NEW .5% DOWN PAYMENT PROGRAM

January 6th, 2014

I hope everyone had a happy and safe New Years!!

Interest rates didn’t move much last week with the majority of traders on vacation. The MBS market closed + 18 bps, so mortgage pricing improved slightly.

On Friday, the December employment report will be released. More positive gains in employment will result in rates continuing their march higher.

My recommendation is still to lock as rates will likely continue to rise.

Have a great week!!

.5% DOWN PAYMENT PROGRAM – AVAILABLE NOW!!

This new program helps potential borrowers qualify for a new purchase home loan with as little as a .5% down payment.

The program works as follows:

96.5% LTV 1st FHA Mortgage
3% LTV 15 Year Fixed 2nd Mortgage

This is a great product for those borrowers that have decent credit and income, but don’t have the funds or gifts available for a 3.5% or 5% down payment.

Please call me for details or if I can help any of your clients with this new product.

BEST VALUE OF THE WEEK:

5/1 ARM at 3.25% with 0 points
10 Year Fixed at 3.5% with 0 points

TODAY’S RATES:

30 year fixed: 4.5% – 1 point, 4.625% – 0 points, 4.75% – $0 costs

20 year fixed: 4.25% – .6 points, 4.375% – 0 points, 4.625% – $0 costs

15 year fixed: 3.5% – .99 points, 3.75% – 0 points, 3.875% – $0 costs

10 year fixed: 3.25% – .83 point, 3.5% – 0 points, 3.625% – $0 costs

5/1 ARM: 3% – .7 points, 3.25% – 0 points, 3.625% – $0 costs

7/1 ARM: 3.375% – .96 points, 3.625% – 0 points, 3.75% – $0 costs

30 year fixed FHA: 4% – .92 points, 4.25% – $0 costs

15 year fixed FHA: 3.375% – .84 points, 3.625% – 0 points 3.75% – $0 costs

30 year fixed VA: 4.125% – .87s point, 4.25% – $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. Arizona refinance, California refinance, Colorado refinance. Scottsdale, Arizona Mortgage Banker in McCormick Ranch. McCormick Ranch Loan Officer. 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 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. January 6th 2014 interest rates, January 7th 2014 interest rates, January 8th 2014 interest rates, January 9th 2014 interest rates, January 10th 2014 interest rates, January 11th 2014 interest rates, January 12th 2014 interest rates, January 13th interest rates.

TODAY’S INTEREST RATES / NEW .5% DOWN PAYMENT PROGRAM

FED TAPERS – RATES WILL GO UP IN 2014 WITH GSE FEE INCREASE

FED TAPERS – RATES WILL GO UP IN 2014 WITH GSE FEE INCREASE

December 26th, 2013

I hope everyone had a Happy and Safe Holiday!!

As many have heard by now – The FEDERAL RESERVE BOARD finally decided to taper their bond purchasing program – capping months of speculation on when the move would take place. The FED will reduce it’s bond purchasing by 10 million per month. This relatively small taper as well as the market already taking into account that a taper would happen helped rates not go through the roof. Still mortgage interest rates are much higher than most have become accustomed to and will head higher in 2014.

GSE FEE INCREASE IN 2014:

Along with more tapering likely coming from the FEDERAL RESERVE BOARD in 2014, the GSEs FANNIE MAE and FREDDIE MAC announced fee changes to lenders last week.

These fee changes will raise the rate for most borrowers .125% – .375% once they hit lender rate sheets. After announcing the Fee change, FHFA director Mel Watt pulled back the implementation, announcing a delay in the fee change until he is able to further determine if this plan of action is the best way to move forward.

So at this point, the fee changes which raises the fees FANNIE MAE and FREDDIE MAC charge lenders to buy their loans is delayed after most expected these changes to hit lender rate sheets in January 2014.

If/when these changes going into effect – they will dramatically raise rate/borrower costs for most borrowers. Loan level pricing adjustments are certain characteristics of a customer’s loan that cause the loan to be more expensive. Some of the changes announced:

– Highest qualifying credit score will now be 800, currently any borrower with a 740+ credit score will get best mortgage pricing
– Cash out loans will increase in rate/costs
– Lower credit score borrowers will increase in rate/costs
– Investment property loans will increase in rate/costs

Below is a chart of the proposed loan level pricing adjustment for Fannie Mae and Freddie Mac in 2014. Below is also a great article explaining the Fee changes:

http://www.mortgagenewsdaily.com/12172013_mortgage_rates_to_take_big_hit_from_fee_hikes.asp

Fannie_Mae_LLPA

So at this point these changes are delayed, but I guarantee fee increases are coming – but maybe not as drastic as the ones announced.

All signs point to higher rates in 2014.

It has been a great few years with record low mortgage interest rates. If you haven’t taken advantage, I would recommend locking in before rates continue to move higher.

Have a great week!!

BEST VALUE OF THE WEEK:

10 Year Fixed at 3.5% with 0 points

5/1 ARM at 3.25% with 0 points

TODAY’S RATES:

30 year fixed: 4.625% – .30 points, 4.75% – 0 points, 4.875% – $0 costs

20 year fixed: 4.25% – 1 point, 4.5% – 0 points, 4.625% – $0 costs

15 year fixed: 3.625% – .49 points, 3.75% – 0 points, 4% – $0 costs

10 year fixed: 3.25% – .99 point, 3.5% – 0 points, 3.75% – $0 costs

5/1 ARM: 3% – .81 points, 3.25% – 0 points, 3.625% – $0 costs

7/1 ARM: 3.375% – 1 point, 3.75% – 0 points, 4% – $0 costs

30 year fixed FHA: 4.125% – .37 points, 4.25% – $0 costs

15 year fixed FHA: 3.375% – .95 points, 3.625% – 0 points, 3.75% – $0 costs

30 year fixed VA: 4.125% – .83 points, 4.25% – 0 points, 4.375% – $0 costs

FED TAPERS – RATES WILL GO UP IN 2014 WITH GSE FEE INCREASE

ALL EYES ON FED STATEMENT WEDNESDAY – 50/50 CHANCE FOR TAPERING

ALL EYES ON FED STATEMENT WEDNESDAY – 50/50 CHANCE FOR TAPERING

December 16th, 2013

All eyes are on the FED and The FOMC meeting this week. The FOMC starts their meeting on Tuesday and will release their statement at 2 pm Eastern on Wednesday.

There is more and more speculation that the FED could taper at this meeting – many experts now calling it a 50/50 proposition. Some prognosticators are actually predicting the FED to taper like the opinion below:

“We now look for the Fed to do something meaningful at the December 18 meeting,” wrote Michael Moran at Daiwa Capital Markets America in a note. “We view the announcement of a reduction in asset purchases as the most likely outcome; absent this, we expect some type guidance on the FOMC’s plans for the effort.”

If the FED tapers, the markets will also be looking at how much they will pull back on their bond purchasing budget. Any sort of taper will likely mean a large rise in rates.

With interest rates at around 4 month highs – I am still suggesting locking before the meeting. If rates drop significantly after the announcement (unlikely) – rate float downs are available when rates drop .25% with the same costs.

Have a great week!!

BEST VALUE OF THE WEEK:

20 Year Fixed at 4.375% with 0 points

10 Year Fixed at 3.375% with 0 points

TODAY’S RATES:

30 year fixed: 4.5% – .58 points, 4.625% – 0 points, 4.75% – $0 costs

20 year fixed: 4.125% – .99 points, 4.375% – 0 points, 4.5% – $0 costs

15 year fixed: 3.5% – .63 points, 3.625% – 0 points, 3.875% – $0 costs

10 year fixed: 3.125% – .63 point, 3.375% – 0 points, 3.625% – $0 costs

5/1 ARM: 2.75% – .99 points, 3.125% – 0 points, 3.375% – $0 costs

7/1 ARM: 3.25% – .83 points, 3.5% – 0 points, 3.75% – $0 costs

30 year fixed FHA: 4% – .56 points, 4.125% – 0 points, 4.25% – $0 costs

15 year fixed FHA: 3.25% – .81 points, 3.5% – $0 costs, 3.75% – $0 costs

30 year fixed VA: 4% – 1 point, 4.25% – $0 costs

ALL EYES ON FED STATEMENT WEDNESDAY – 50/50 CHANCE FOR TAPERING

RATES CONTINUE MOVING HIGHER / FED MEETING NEXT WEEK

RATES CONTINUE MOVING HIGHER / FED MEETING NEXT WEEK

December 9th, 2013

The interest rate market had quite the week last week. Rates rose everyday from Monday through Thursday before the important November employment report. Then something weird happened.

Job creation beat their forecasts, The unemployment rate dropped .2% – this would usually cause rates to rise fast, but it didn’t. Rates actually improved a little bit on Friday and also on Monday. Still, the Mortgage Backed Security Market closed the week trading down – 69 bps, pushing rates to their highest levels in months.

With the majority of economic reports showing positive gains – more and more experts think the FED could taper their stimulus package in their meeting next week. I don’t expect rates to change much until then.

Rates are still taking on the outlook I have talked about for months – rates really have no where to go but higher. Any improvement we see is not substantial because the FED taper is looming.

Those still waiting for rates to dramatically drop will likely be waiting forever. I recommend locking on a refinance if it’s beneficial as even these higher rates likely won’t be around much longer.

BEST VALUE OF THE WEEK:

15 Year Fixed at 3.5% with 0 points
10 Year Fixed at 3.25% with 0 points

TODAY’S RATES:

30 year fixed: 4.375% – .78 points, 4.5% – 0 points, 4.625% – $0 costs

20 year fixed: 4.125% – .812 points, 4.25% – 0 points, 4.5% – $0 costs

15 year fixed: 3.375% – .8 points, 3.5% – 0 points, 3.75% – $0 costs

10 year fixed: 3% – .69 point, 3.25% – 0 points, 3.5% – $0 costs

5/1 ARM: 2.75% – .94 points, 3.125% – 0 points, 3.375% – $0 costs

7/1 ARM: 3.25% – .69 points, 3.5% – 0 points, 3.75% – $0 costs

30 year fixed FHA: 3.75% – .94 points, 4.125% – 0 points, 4.25% – $0 costs

15 year fixed FHA: 3.25% – 0 points, 3.5% – $0 costs

30 year fixed VA: 4% – .85 points, 4.25% – $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. Arizona refinance, California refinance, Colorado refinance. Scottsdale, Arizona Mortgage Banker in McCormick Ranch. McCormick Ranch Loan Officer. 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 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. December 9th interest rates, December 10th interest rates, December 11th interest rates, December 12 interest rates, December 13th interest rates, December 14th interest rates, December 15th interest rates, December 16th interest rates

RATES CONTINUE MOVING HIGHER / FED MEETING NEXT WEEK

Category: 30 Year Fixed FHA rates

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