INTEREST RATES IMPROVE FOR THIRD STRAIGHT WEEK

INTEREST RATES IMPROVE FOR THIRD STRAIGHT WEEK

April 1st, 2013

Interest rates showed steady improvement for the third straight week.  The Mortgage Backed Security market closed the week trading up (+ 28 bps).

Although we are not seeing massive rate movement, interest rates gradually decreasing is a positive development for those considering a new mortgage.  With the recent rate improvement, those currently in the low 4%’s on a 30 year fixed mortgage can take advantage of a lower rate at $0 costs. 

In European debt news, Cyprus was able to reach a bail out deal, but the unrest in the European Union will likely keep investors buying safer mortgage backed securities and US treasury bonds.  This security measure should work as an obstacle for rates to move higher. 

LOCK ADVICE:

Now is a good time to lock.  Rates have improved for 3 weeks straight and are at their lowest levels since January.

This week is employment week with March’s unemployment report to be released on Friday.  As always, this usually causes considerably movement in the interest rate markets. 

Make it a great week!!    

BEST VALUE OF THE WEEK:

30 Year Fixed at 3.875% paying $0 costs

TODAY’S RATES:

30 year fixed:     3.5% paying 1 point,     3.75% paying 0 points,     3.875% – $0 costs

20 year fixed:   3.375% paying 1 point,     3.625% paying 0 points,     3.75%  – $0 costs

15 year fixed:   2.75% paying .96 points,     3% paying 0 points,     3.125% – $0 costs

5/1 ARM:   2.125% paying .95 points,     2.375% paying 0 points,     2.75% – $0 costs

7/1 ARM:    2.375% paying .88 points,     2.625% paying 0 points,     2.875%- $0 costs

30 year fixed High Balance Loan:    3.75% paying .71 points;     4% paying 0 points;     4.125% – $0 costs

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

15 year fixed FHA:    2.75% paying .26 points,     3% paying 0 points,     3.25% – $0 costs

30 year fixed VA:    3.25% – $0 costs

TR - April 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 FOR THIRD STRAIGHT WEEK

INTEREST RATES CONTINUE TO IMPROVE – LAST WEEK TO START A FHA LOAN BEFORE MI RATES GO UP

INTEREST RATES CONTINUE TO IMPROVE – LAST WEEK TO START A FHA LOAN BEFORE MI RATES GO UP

March 25th, 2013

Interest rates continued positive momentum last week.  The Mortgage Backed Security market traded up 4 of the 5 days closing the week up (+16 bps).  The one day that held interest rates from going much lower was Wednesday when the Fed stated that they would try to keep bank interest rates low through 2015.  This resulted in positive momentum in the stock market and a sell off in the MBS market. 

Many economic reports will be released this week, but the most important interest rate event is the financial crisis in Cyprus.  Investors are concerned that a financial collapse in the country could cause further unrest in the European Union. 

If Cyprus is able to get financial aid and remain in the European Union – expect to see interest rates go up.  If not, more uncertainty will result in investors seeking safety and interest rates dropping.

This is absolutely the last week that borrowers can take advantage of current FHA MI guidelines.  FHA will raise mortgage insurance rates and make them for the life of the loan on Monday.  In order to avoid this increase, you need to get your FHA case number pulled by Friday.  Please call me if you would like to take advantage of current FHA MI guidelines before they go up.

Make it a great week!!

BEST VALUE OF THE WEEK:

30 Year Fixed at 3.75% paying 0 points

TODAY’S RATES:

30 year fixed:     3.625% paying .47 points,     3.75% paying 0 points,     3.99% – $0 costs

20 year fixed:   3.5% paying .46 points,     3.625% paying 0 points,     3.75%  – $0 costs

15 year fixed:   2.75% paying .99 points,     3% paying 0 points,     3.125% – $0 costs

5/1 ARM:   2.25% paying .65 points,     2.5% paying 0 points,     2.75% – $0 costs

7/1 ARM:    2.375% paying .99 points,     2.75% paying 0 points,     2.875%- $0 costs

30 year fixed High Balance Loan:    3.75% paying .77 points;     4% paying 0 points;     4.125% – $0 costs

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

15 year fixed FHA:    2.75% paying 0 points,     3.25% – $0 costs

30 year fixed VA:    3.25% – paying 0 points,     3.375% – $0 costs

TR-3-25-13

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 CONTINUE TO IMPROVE – LAST WEEK TO START A FHA LOAN BEFORE MI RATES GO UP