WEEKLY RATE – Fed Increases Federal Funds Rate, Mortgage Rates Improve

December 2015

The FED finally did it. After years of talking about it the FED raised the Federal Funds rate to .5% on Wednesday. In the days leading up to the announcement , mortgage interest rate pricing spiked in anticipation of them raising the rate. Then once the announcement happened, interest rate pricing improved the end of the day on Wednesday up through today – Monday December 21st.

Overall, the Mortgage Backed Security (MBS) market ended the week closing down -29 bps but rallied up + 40 bps on Thursday and Friday.

The FED declared that their goal is to raise the Federal Funds rate to 1.4% by the end of 2016.

It’s getting to be Christmas time when a lot of traders go on vacation. When there are less traders, the market can be very volatile as a larger pool of traders typically balances out the market more.

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

TODAY’S INTEREST RATES:

30 year fixed:      3.99% – .98 points (4.19% APR),       4.25% – 0 points (4.27% APR)

20 year fixed:      3.75% – 1 point (3.95% APR),       4.0% – 0 points (4.04% APR)

15 year fixed:       3.25 % – 1 point (3.45% APR),        3.5% – 0 points (3.55% APR)

10 year fixed:        3.125% – .96 points (3.22% APR),       3.375% – 0 points (3.4% APR)

5/1 ARM:       3.375% – 1 point (3.57% APR),       4.0% – 0 points (4.05% APR)

7/1 ARM:       3.625% – .74 points (3.77% APR),        4.0% – 0 points (4.05% APR)

30 year fixed FHA:       3.625% – 1 point (4.525% APR),        3.75% – 0 points (4.55% APR)

15 year fixed FHA:       3.25% – .8 points (3.71% APR),        3.5% – 0 points (3.8% APR)

30 year fixed VA:       3.75% – 0 points (3.8% APR)

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. December 21st 2015 30 year fixed rates, December 22nd 2015 30 year fixed rates, December 23rd 2015 30 year fixed rates, December 24th 2015 30 year fixed rates, December 25th 2015 30 year fixed rates, December 26th 2015 30 year fixed rates, December 27th 2015 30 year fixed rates.

WEEKLY RATE – Fed Increases Federal Funds Rate, Mortgage Rates Improve