Category: ARM rates

WEEKLY RATE – Rates Improve to Lowest Levels in 5 Months

Rates Improve to Lowest Levels in 5 Months

October 2015

Interest rates had a great week last week with the Mortgage Backed Security (MBS) market closing up every single day and closing the week up + 81 bps. With the improvement, interest rates are at their lowest levels in 5 months.

The week was highlighted by the September Non Farm Payroll report which came in well below expectations. Market analysts predicted job creation of 203k, but numbers were much lower at 142k. Job numbers were also adjusted down in July and August. Great news for interest rates, not great news for the economy.

On Monday, the TRID regulations finally go into effect which will affect the mortgage process with all lenders in the country. The main change is that the GFE and HUD settlement statement will be replaced by a different form highlighting rate, payment and costs. The new regulations also give a borrower 3 days to review the closing docs before signing. This will make the loan process a bit longer, but overall I feel the changes are good for the industry.

For a free email mortgage quote, please answer questions on the right or go to:

WWW.FREEMORTGAGEQUOTE.BIZ

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

TODAY’S INTEREST RATES:

30 year fixed:      3.75% – .5 points (3.85% APR),       3.875% – 0 points (3.9% APR)
20 year fixed:      3.5% – .76 points (3.65% APR),       3.625% – 0 points (3.66% APR)
15 year fixed:       2.875% – 1 point (3.07% APR),        3.125% – 0 points (3.16% APR)
10 year fixed:       2.75% – .34 points (2.81% APR),        2.875% – 0 points (2.9% APR)
5/1 ARM:       2.75% – 1 point (2.95% APR),        3.125% – 0 points (3.17% APR)
7/1 ARM:        3.0% – .93 points (3.18% APR),        3.375% – 0 points (3.4% APR)
30 year fixed FHA:       3.5% – .54 points (4.3% APR),        3.75% – 0 points (4.45% APR)
15 year fixed FHA:       2.875% – 1 point (3.37% APR),       3.125% – 0 points (3.42% APR)
30 year fixed VA:       3.5% – .79 points (3.66% APR),       3.75% – 0 points (3.75% APR)

Today's Interest Rates - October 5th, 2015
Today’s Mortgage Interest Rates. Current Mortgage Interest Rates and APRs for refinancing and purchasing in Arizona, California, Colorado, Washington, and Virginia. Arizona Home Loans, California Home Loans, Colorado Home Loans, Washington Home loans, Virginia 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. October 5th 2015 30 year fixed rates, October 6th 2015 30 year fixed rates, October 7th 2015 30 year fixed rates, October 8th 2015 30 year fixed rates, October 9th 2015 30 year fixed rates, October 10th 2015 30 year fixed rates, October 11th 2015 30 year fixed rates.

Rates Improve to Lowest levels in 5 months

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 Interest Rates - March 10th, 2014

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 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 Interest Rates - January 27th, 2014

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.

man-on-street1

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 Interest Rates - January 13th, 2014

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

New Year

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.

no-money-down-mortgage-first-time-home-buyers1

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 Interest Rates - January 6th, 2014

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

Today's Interest Rates - December 26th, 2013

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 26th mortgage interest rates, December 27th mortgage interest rates, December 28th mortgage interest rates, December 29th mortgage interest rates, December 30th mortgage interest rates.

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

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.Now Hiring

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 Interest Rates - December 9th, 2013

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

INTEREST RATES TRENDING UP / MONDAY IS LAST DAY FOR HOLIDAY RATE SPECIAL

INTEREST RATES TRENDING UP  /  MONDAY IS LAST DAY FOR HOLIDAY RATE SPECIAL

December 2nd, 2013

I hope everyone had a great Thanksgiving!!  Interest rates rose for the second straight week with the Mortgage Backed Security market closing down – 39 bps.

The MBS market is currently down almost -70 bps over the past 2 weeks and interest rates are around 2 month highs.  Still they are fluctuating in the same range they have for most of the past 5 months with 30 year fixed rates in the 4.125% – 4.375% range.

Over the long term, rates have been very stable and they will likely stay in a tight range unless something happens with the FED and their bond purchasing stimulus.

The FED meets again this month, but most don’t expect the FED to taper their stimulus until 2014.

HOLIDAY INTEREST RATE SPECIAL

My Holiday interest rate special ends at 4 pm Pacific on Monday.  In order to get the discount, I must approve loan and order appraisal by that time. 

The discount is:

.5 points off all CONFORMING, FHA, and VA loans.

.25 points of all HIGH BALANCE CONFORMING LOANS

The pricing below includes the discount, but all pricing will move up after Monday.  Please contact me on Monday if you would like to lock in before this special ends.

Last Day of SaleBEST VALUE OF THE WEEK:

20 Year Fixed at 4.125% with 0 points

7/1 ARM at 3.25% with 0 points

TODAY’S RATES:

30 year fixed:     4.25% – .69 points,     4.5% – 0 points,     4.625% – $0 costs

20 year fixed:   4% – .812 points,     4.125% – 0 points,     4.375%  – $0 costs

15 year fixed:   3.375% – .34 points,     3.5% – 0 points,     3.625% – $0 costs

10 year fixed:   3% – .684 point,     3.25% – 0 points,     3.5% – $0 costs

5/1 ARM:   2.5% – .98 points,     2.875% – 0 points,     3.125% – $0 costs

7/1 ARM:    3% – .75 points,     3.25% – 0 points,     3.5% – $0 costs

30 year fixed FHA:     3.75% – .25 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% – .83 points,    4% – 0 points,    4.25% – $0 costs

 

Today's Interest Rates - December 2nd, 2013

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.

INTEREST RATES TRENDING UP  /  MONDAY IS LAST DAY FOR HOLIDAY RATE SPECIAL

OCTOBER EMPLOYMENT REPORT CAUSES SHARP RISE IN INTEREST RATES

OCTOBER EMPLOYMENT REPORT CAUSES SHARP RISE IN INTEREST RATES

November 11th, 2013

Happy Veteran’s Day!!  Thank you to all of our men and women who have served in the Military.

Mortgages rates ended the week sharply higher with the release of the October employment report on Friday.  Non Farm job creation crushed expectations causing a sell-off in the Mortgage Backed Security market of over 100 bps.

new job

Positive economic news from the employment report, US 3rd quarter GDP, and ISM manufacturing is causing more pricing pressure and thoughts that the FED could taper their stimulus package sooner. 

Unfortunately, the employment report usually shapes the monthly trend of interest rates.  I think rates will likely slowly rise during the month of November. 

I would recommend locking pricing if you are in the market for a mortgage.

FMAE CHANGES COMING THIS WEEKEND

Fannie Mae is implementing a new underwriting system this weekend.  The highlights of the guideline changes are:

-No more interest only loans.  I have to lock any new interest only loans by Wednesday, so if you want one – please call me asap.

-Maximum LTV going from 95% to 97%

-FMAE HARP loans no longer will require the waiting period required for Forclosures, Bankruptcies and Short sales

Make it a great week!!

BEST VALUE OF THE WEEK:

20 Year Fixed 4.25% with 0 points

7/1 ARM at 3.375% with 0 points

TODAY’S RATES:

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

20 year fixed:   4.125% – .83 points,     4.25% – 0 points,     4.5%  – $0 costs

15 year fixed:   3.375% – .51 points,     3.5% – 0 points,     3.625% – $0 costs

10 year fixed:   3.125% – .83 points,     3.5% – 0 points,     3.625% – $0 costs

5/1 ARM:   2.625% – 1 point,     3% – 0 points,     3.25% – $0 costs

7/1 ARM:    3.125% – .75 points,     3.375% – 0 points,     3.625% – $0 costs

30 year fixed FHA:     3.75% – .61 points,     4% – 0 points,     4.125% – $0 costs

15 year fixed FHA:    3.25% – .10 points,     3.375% – 0 points,     3.5% – $0 costs

30 year fixed VA:     4% – .5 points,    4.25% – $0 costs

Today's Interest Rates - November 11th, 2013

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.

OCTOBER EMPLOYMENT REPORT CAUSES SHARP RISE IN INTEREST RATES

THE FED DOES NOT TAPER , BUT RATES RISE SLIGHTLY

THE FED DOES NOT TAPER , BUT RATES RISE SLIGHTLY

November 4th, 2013

Mortgage rates ended last week slightly higher, but have improved on Monday taking some of the losses back.

On Wednesday, the FED announced that they would not taper their bond purchasing program. Most did not expect the FED to taper, so this wasn’t a huge surprise. The FED did take out some verbiage in their statement though, which caused some MBS investors to sell off. Normally we would expect rates to improve with this announcement, but that did not happen. The FED will meet again in December.

We have a big week in rate effecting news this week. The Third Quarter US GDP will be released Thursday and the October 2013 Employment report will come out Friday. The employment report will be very important for the direction of interest rates over the next month. If job creation is lower than expected, rates will improve. If job creation is above expectations, expect rates to rise.

Make it a great week!!

BEST VALUE OF THE WEEK:

30 Year Fixed at 4.25% with 0 points
5/1 ARM at 2.875% with 0 points

TODAY’S RATES:

30 year fixed:     4.125% – .74 points,     4.25% – 0 points,     4.5% – $0 costs
20 year fixed:     4% – .78 points,      4.125% – 0 points,     4.25% – $0 costs
15 year fixed:     3.25% – .76 points,     3.375% – 0 points,     3.5% – $0 costs
10 year fixed:      3% – .74 points,      3.375% – 0 points,      3.5% – $0 costs
5/1 ARM:      2.625% – .76 points,      2.875% – 0 points,      3.125% – $0 costs
7/1 ARM:      3% – .91 points,      3.25% – 0 points,     3.5% – $0 costs
30 year fixed FHA:     3.75% – $0 costs
15 year fixed FHA:      3.25% – 0 points, 3.5% – $0 costs
30 year fixed VA:      3.75% – 0 points, 4% – $0 costs
Today's Interest Rates - November 4th, 2013 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. 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.  November 4th interest rates, November 5th interest rates, November 6th interest rates, November 7th interest rates, November 8th interest rates, November 9th interest rates, November 10th interest rates, November 11th interest rates

THE FED DOES NOT TAPER , BUT RATES RISE SLIGHTLY