Ben Bernanke

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

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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.

Federal Reserve Board's Federal Open Market Committee members pose during two-day meeting in Washington.

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

Today's Interest Rates - December 16th, 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 16th mortgage interest rates

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

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

RATES CONTINUE TO DROP WITH POOR EMPLOYMENT REPORT

RATES CONTINUE TO DROP WITH POOR EMPLOYMENT REPORT

October 28th, 2013

Interest Rates improved for the 2nd straight week last week.  The main source of improvement was from the September employment report released Tuesday.  The gain in jobs fell well short of forecasts, pushing investor money into mortgage backed securities. 

Rates are still at the lowest levels since early May when rates went up very quickly due to comments from Ben Bernanke about tapering the bond purchasing program.  The FED is meeting again this week with a statement on Wednesday.  Most do not expect the FED to taper in the meeting, but if they do – watch out – rates will go up quickly.

FOMC-Meeting

Make it a great week!!           

BEST VALUE OF THE WEEK:

15 Year Fixed at 3.375% with 0 points

5/1 ARM at 2.625% paying 1 point

TODAY’S RATES:

30 year fixed:     4.125% – .37 points,     4.25% – 0 points,     4.375% – $0 costs

20 year fixed:   4% – .5 points,     4.125% – 0 points,     4.25%  – $0 costs

15 year fixed:   3.125% – 1 point,     3.375% – 0 points,     3.5% – $0 costs

10 year fixed:   2.875% – 1 point,     3.125% – 0 points,     3.5% – $0 costs

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

7/1 ARM:    3.125% – .6 points,     3.375% – 0 points,     3.65% – $0 costs

30 year fixed FHA:     3.75% – $0 costs

15 year fixed FHA:    3.25% – .11 points,     3.375% – 0 points,     3.5% – $0 costs

30 year fixed VA:     3.75% – 0 points,    3.875% – $0 costs

Today's Interest Rates - October 28th, 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.

RATES CONTINUE TO DROP WITH POOR EMPLOYMENT REPORT

INTEREST RATES IMPROVE FOR 2ND STRAIGHT WEEK:

INTEREST RATES IMPROVE FOR 2ND STRAIGHT WEEK:

July 22nd, 2013

Interest rates improved for the second straight week. The Mortgage Backed Security Market closed up + 81 bps, bringing us back to pre-4th of July level pricing.

On Wednesday, Ben Bernanke testified in front of Congress that the Fed’s tapering of it’s bond purchasing program was not “imminent”, but that the FED was monitoring the economy. When the FED feels the economy is where it needs to be, then the FED will begin to end it’s stimulus.

This helped the markets because many investors felt the FED was planning on slowing down it’s bond purchasing in September. I still believe the FED will slow down the stimulus in September, unless some event pulls back the forecast of the economy.

I expect rates to be relatively calm until the July unemployment report. These employment reports are huge moving forward, and will likely be one of the key determining factors in the FED’s decision to slow down it’s bond purchasing program. The July employment numbers are released next Friday morning.

I am recommending to lock on any improvement in rate pricing.

Make it a great week!!

BEST VALUE OF THE WEEK:

20 Year Fixed at 4.25% with 0 points

TODAY’S RATES:

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

20 year fixed:      4.125% – .43 points, 4.25% – 0 points, 4.5% – $0 costs

15 year fixed:     3.5% – .57 points, 3.625% – 0 points, 4% – $0 costs

5/1 ARM:     2.75%: – .85 points, 3.125% – 0 points

7/1 ARM:     3.125% – .79 points, 3.5% – 0 points

10/1 ARM:     3.875% – .89 points, 4.375% – 0 points

30 year fixed FHA:     3.75% – .62 points, 4% – 0 points, 4.125% – $0 costs

15 year fixed FHA:     3.25% – .63 points, 3.5% – 0 points, 3.75% – $0 costs

30 year fixed VA:     4% – .10 points, 4.125% – 0 points, 4.25% – $0 costs

TR - 7-22-2013

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. 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.

JULY 22ND 2013, INTEREST RATES IMPROVE FOR 2nd STRAIGHT WEEK

INTEREST RATES IMPROVE .25% – 30 YEAR FIXED TO 4.375%

INTEREST RATES IMPROVE .25%  – 30 YEAR FIXED TO 4.375%

July 15th, 2013

Interest rates gained some positive momentum after the worst day for interest rates in over 10 years on Friday, July 5th.  The market is rebounding, which can often happen when rates move one way very quickly, signaling a possible overreaction by the market.

The Mortgage Backed Security market closed last week trading up + 118 bps and closed Monday, July 15th trading up + 35 bps.  Although interest rate pricing is still not at prior to 4th of July levels, interest rates improving 5 of the past 6 days is a step in a positive direction.

Last Wednesday was interesting in that we saw the release of the FED minutes from the June FOMC meeting and Ben Bernanke delivered a speech later in the day.  The FED minutes showed that about 50% of the FED wants to taper the QE stimulus in 2013.  This further confirmed the market’s belief that the FED’s asset purchasing program would soon be coming to an end.  Then later in the day, Ben Bernanke made a vague speech stating that the FED planned to keep monetary policy positive for business and that the US economy was still not where they wanted it.

Basically what we are seeing is Bernanke back tracking a bit because no one though interest rates would move up this quickly. 

On Wednesday and Thursday, Bernanke will be testifying before the House and the Senate.  Expect further volatility depending on how he answers Congress’s questions.  If he gives the impression that QE will last through the end of 2013, I would expect to see rates improve. 

Until the FED plainly states it’s direction, volatility in the market will continue to be the norm.  When the FED finally does end it’s QE stimulus, expect rates to jump quickly. 

Make it a great week!!       

BEST VALUE OF THE WEEK:    

5/1 ARM at 3.375% with 0 points

TODAY’S RATES:

30 year fixed:     4.375% – 1 point,     4.625% – 0 points,     4.75% – $0 costs

20 year fixed:   4.125% – .81 points,     4.25% – 0 points,     4.625%  – $0 costs

15 year fixed:   3.5% – .73 points,     3.75% – 0 points,     4% – $0 costs

5/1 ARM:   2.875% – .98 points,     3.375% – 0 points

7/1 ARM:    3.25% – .96 points,     3.875% – 0 points

10/1 ARM:    4.125% – 1 point,     4.625% – 0 points

30 year fixed FHA:    3.875% – .6 points,     4% – 0 points,      4.25% – $0 costs

15 year fixed FHA:    3.25% – .85 points,     3.5% – 0 points,      3.75% – $0 costs

30 year fixed VA:    4.25% – $0 costs

TR - July 15th, 2013

INTEREST RATES IMPROVE .25%  – 30 YEAR FIXED TO 4.375%

INTEREST RATES IMPROVE – 30 YEAR FIXED TO 4.25%

INTEREST RATES IMPROVE  –  30 YEAR FIXED TO 4.25%

July 1st, 2013

After the blood bath for interest rates the week before, interest rates managed to pull back some as the panic selling began to taper on Monday.  On Monday morning, the mortgage backed security market was trading down over – 100 bps, and then pulled back close to even by the end of the day.  This was a great sign as it looked like 30 year fixed rates might be at 5% by the end of the week.

The MBS market finished the week quite strong, closing up + 106 bps, with 30 year fixed interest rates down to 4.25%.  

Don’t be fooled though – interest rates will not go back to the mid 3% levels they had been at for quite some time.  The pull back was mainly due to the market panic selling which usually results in a correction the other way.

Ben Bernanke stated very clearly that the FED would likely curtail their asset purchases by the end of 2013 and completely stop them by 2014.  This means that the FED keeping rates lower than they should be will be coming to an end soon – the main question is when.  Some other members of the FED have diffused Bernanke’s comments, stating that there is no set time to stop and that quantitative easing will continue until the economy’s progress dictates them to stop.

Expect interest rate volatility to continue with all eyes on the FED’s actions.  I don’t expect rates to go down significantly unless there is a major economic event that reveals the economy is not progressing like the FED currently thinks it is.  In the long term, I expect rates to continue to rise although we may see some improvement in the short term.  I recommend locking on any improvement. 

Make it a great week and have a happy and safe 4th of July!!           

BEST VALUE OF THE WEEK:

30 Year Fixed at 4.5% 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% – .95 points,     4.25% – 0 points,     4.375%  – $0 costs

15 year fixed:   3.5% – .48 points,     3.625% – 0 points,     3.875% – $0 costs

5/1 ARM:   2.75% – 1 point,    3.25% – 0 points

7/1 ARM:    3% – 1 point,     3.5% – 0 points

10/1 ARM:    3.875% – 1 point,     4.625% – 0 points

30 year fixed FHA:    3.75% – .53 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:    3.875% – .81 points,     4.25% -$0 costs

Today's Interest Rates - July 1st, 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.  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  –  30 YEAR FIXED TO 4.25%

INTEREST RATES HIT MULTI YEAR HIGHS – WITH NO SIGNS OF STOPPING

INTEREST RATES HIT MULTI YEAR HIGHS – WITH NO SIGNS OF STOPPING

June 24th, 2013

Last week was the single worst week for interest rates that I can remember (I have been doing mortgages for 10 years). As expected and stated in last week’s update – the FED’s statement on Wednesday would bring about volatility in the market and it certainly did.

Ben Bernanke and the FED maintained that they would scale back the stimulus and bond purchasing plan. The mortgage backed security and stock markets plummeted. The MBS market closed the week trading down -314 bps.  When the dust had settled, 30 year fixed rates were .625% higher than they were at the end of trading on Friday.

The interest rates people have been accustomed to for the past couple years are gone and they are not coming back. I have warned about this for the past year – when the FED leaves the bond purchasing market – rates will go higher, quickly. The FED has basically kept rates lower than they should be for 2.5 years.

On the bright side – interest rates are historically still very good, but I do expect them to continue to rise.

If you can benefit from refinancing – I wouldn’t wait or spend a week shopping. Rates have been moving up so quickly that shoppers are losing a ton more in daily rate hikes than actually finding a better deal. Even if the savings are not unbelievable, this may be your last chance to lower your rate and payment for the life of your loan.

My recommendation is to lock in if you are currently floating.

Make it a great week!!

BEST VALUE OF THE WEEK:

15 Year Fixed at 3.75% with 0 points

TODAY’S RATES:

30 year fixed:      4.5% – .89 points,      4.75% – 0 points,      4.875% – $0 costs

20 year fixed:      4.25% – .32 points,      4.375% – 0 points,      4.75% – $0 costs

15 year fixed:      3.5% – .84 points,      3.75% – 0 points,       4% – $0 costs

5/1 ARM:      3.25% – .81 points

7/1 ARM:      3.375% – .97 points

10/1 ARM:       4.25% – .91 points

30 year fixed FHA:      4% – .99 points,      4.25% – 0 points,       4.5% – $0 costs

15 year fixed FHA:      3.25% – .48 points,      3.375% – 0 points,       3.5% – $0 costs

30 year fixed VA:      4.25% paying 0 points,      4.625%- $0 costs

TR - 6-24-13

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 HIT MULTI YEAR HIGHS  –  WITH NO SIGNS OF STOPPING

INTEREST RATES FINALLY IMPROVE – LOWEST RATES THIS MONTH

INTEREST RATES FINALLY IMPROVE  –  LOWEST RATES THIS MONTH

June 17th, 2013

After 6 straight weeks of interest rates moving higher, interest rates finally showed some improvement last week.  The Mortgage Backed Security market closed the week trading up + 36 bps. 

This is a huge week for interest rates as the Federal Open Market Committee (FOMC) will meet and release a statement on Wednesday followed by a Ben Bernanke press conference.  Ben Bernanke’s last statements caused rates to rise .5% very quickly.  It’s amazing how much power the markets put into any hint of what the FED may do.

There is speculation both ways on what the statement and press conference may reveal.  Some predict that the FED may confirm it will not taper off the bond purchasing program.  I don’t think Bernanke knew his last statement would cause such a panic sell off in the bond markets.  This along with the unemployment rate still being high and the economy not improving as much as the FED would like could cause this response. 

On the other hand there is speculation that the FED will confirm that it will taper off the bond purchasing program, which has been hinted at for some time.

Either way, expect a very volatile rate market after Wednesday.  The news on Wednesday will likely give us direction on where long term interest rates are headed.

Make it a great week!!       

BEST VALUE OF THE WEEK:           

15 Year Fixed at 3.25% – 0 points

TODAY’S RATES:

30 year fixed:     3.875% – .82 points,     4% – 0 points,     4.25% – $0 costs

20 year fixed:   3.625% – .27 points,     3.75% – 0 points,     3.875%  – $0 costs

15 year fixed:   3% – .74 points,     3.25% – 0 points,     3.5% – $0 costs

5/1 ARM:   2.5% – .67 points,     2.75% – 0 points,     3.25% – $0 costs

7/1 ARM:    2.75% – .59 points,     3% – 0 points,     3.375%- $0 costs

10/1 ARM:    3.375% – .86 points,     3.75% – 0 points

30 year fixed FHA:    3.25% – .9 points,     3.5% – 0 points,      3.625% – $0 costs

15 year fixed FHA:    2.75% – .89 points,     3% – 0 points,      3.25% – $0 costs

30 year fixed VA:    3.375% – .66 points,     3.625% paying 0 points,      3.75%- $0 costs

TR - June 17th, 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.  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 FINALLY IMPROVE  –  LOWEST RATES THIS MONTH

INTEREST RATES CONTINUE UPWARD CLIMB / ARMS STILL IN THE 2%’s

INTEREST RATES CONTINUE UPWARD CLIMB   /    ARMS STILL IN THE 2%’s

June 3rd, 2013

Last week was yet another tough week for interest rates as they continue their climb to their highest levels in over a year. The MBS market closed last week trading down – 103 bps.

Each time you see a small rally in the bond market, investors unload and the market continues it’s downward spiral. It’s not uncommon to see the bond market higher in the morning and drop over 50 bps in an hour or two. There is simply not an appetite for mortgage backed securities right now.

The trend of interest rates rising will likely continue unless some economic event worries investors enough to seek safety in mortgage backed securities and US treasuries. Expect heavy volatility to remain the norm.

On Friday, the May unemployment report will be released. Remember that April’s unemployment report and revision to March’s numbers started rates moving higher after hitting very low levels at the beginning of May.

ARM loans continue to be very attractive options as rates on ARM loans don’t move as much with the market as fixed loans do. The most popular ARM loans are fixed for 5,7, or 10 years before they adjust and the adjustments are capped. They are a good option to consider if you missed the boat on refinancing to a low fixed rate.

Make it a great week!!

BEST VALUE OF THE WEEK:

7/1 ARM at 2.75% paying 0 points

TODAY’S RATES:

30 year fixed:    4% paying .66 points,     4.125% paying 0 points,      4.25% – $0 costs

20 year fixed:     3.625% paying .77 points,      3.75% paying 0 points,      4.125% – $0 costs

15 year fixed:     3.125% paying .66 points,      3.375% paying 0 points,      3.5% – $0 costs

5/1 ARM:      2.375% paying .99 points,      2.75% paying 0 points,      3.25% – $0 costs

7/1 ARM:     2.625% paying .91 points,      2.875% paying 0 points,      3.25%- $0 costs

30 year fixed High Balance Loan:     4.125% paying .86 points,      4.375% paying 0 points,      4.5% – $0 costs

30 year fixed FHA:      3.375% paying .66 points,      3.5% paying 0 points,      3.75% – $0 costs

15 year fixed FHA:     2.875% paying .99 points,      3.25% – $0 costs

30 year fixed VA:     3.375% paying .99 points,      3.75%- $0 costs

Today's Interest Rates - June 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. 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 CONTINUE UPWARD CLIMB   /    ARMS STILL IN THE 2%’s

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