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.

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 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