FED does not taper

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

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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

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

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 TO 6 WEEK LOWS

FED DOES NOT TAPER – INTEREST RATES IMPROVE TO 6 WEEK LOWS

September 23rd, 2013

The FED announced on Wednesday that they will not taper their bond purchasing program at the present time.  This announcement went against many market prognosticators, helping push rates to their lowest levels in 6 weeks – and near their lowest levels in 4 months. 

30 Year Fixed dropped to 4.25% and 15 year fixed dropped back below 3.5% to 3.375%.  ARMs did not move as much – 5/1 ARMs currently start at 2.875% and 7/1 ARMs start at 3.5% paying a point or less. 

house-interest-rateThe FED’s reasoning was that the economy had not shown enough to warrant reducing the stimulus.  If the FED did taper, everyone knew rates would go up very quickly.  This could be a change of tone/direction for the FED, possibly indicating that they feel that the higher interest rates of the past 4 months have already negatively affected the economy. 

Still there will be constant pressure on rate markets unless the FED announces they no longer will taper.  The FED meets again at the end of October, and made it clear that they could choose to taper at anytime.

Enjoy the lower rates while they are here – hopefully they will stay for longer than we expected.

Make it a great week!!   

BEST VALUE OF THE WEEK:               

15 Year Fixed at 3.5% paying 0 points

5/1 ARM at 3.375% paying 0 points

TODAY’S MORTGAGE INTEREST RATES:    

30 year fixed:     4.25% – .99 points,     4.5% – 0 points,     4.625% – $0 costs

20 year fixed:   4.125% – .59 points,     4.25% – 0 points,     4.5%  – $0 costs

15 year fixed:   3.375% – .81 points,     3.5% – 0 points,     3.75% – $0 costs

10 year fixed:   3% – .98 points,     3.25% – 0 points,     3.625% – $0 costs

5/1 ARM:   2.875% – 1 point,     3.375% – 0 points,     3.75% – $0 costs

7/1 ARM:    3.5% – .85 points,     3.75% – 0 points,     4.125% – $0 costs

30 year fixed FHA:    3.75% – .82 points,      4% – 0 points,     4.125% – $0 costs

15 year fixed FHA:    3.25% – .99 points,     3.625% – 0 points,     3.75% – $0 costs

30 year fixed VA:     4% – .14 points,    4.125% – 0 points,     4.25% – $0 costs

Today's Interest Rates - September 23rd, 2013

Interest Rates Improve to 6 Week Lows

FED DOES NOT TAPER!!! – INTEREST RATES WILL IMPROVE

FED DOES NOT TAPER   –   INTEREST RATES WILL IMPROVE.

September 18th, 2013

Big news today from the FED and the FOMC Meeting. 

The FED will NOT taper their bond purchasing program at the present time.  This has caused interest rates to improve with the MBS market currently trading up 126 basis points.

This improvement will help interest rates in the short term, though most believe the FED will still taper by the end of 2013. 

The FOMC meets again at the end of October.

If you would like an updated mortgage quote – please email rgreen@crosslinecapital.com the answers to the questions below:

-What are your objectives of a new loan – lower payment, cash out, purchase, pay off sooner, etc:

-Type of loan want – 30 year fixed, 5/1 ARM, etc:

-Full Address of property:

-Estimated Value of Home:

-Current Loan Amount (1st and 2nd separately if you have multiple mortgages):

-Do you want to escrow your taxes and insurance into your payment:

-Where are your credit scores:

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REGGIE GREEN / BRANCH MANAGER AT CROSSLINE CAPITAL  /  480-206-5577

Fed does not taper!!

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