MORTGAGE RATES IMPROVE WITH HALLOWEEN BOND RALLY

HAPPY HALLOWEEN  :  MORTGAGE RATES IMPROVE:

October 31st, 2011

Mortgage rates closed last week the same as they opened – no movement up or down. Halloween marked a far different story. On Halloween, the bond markets traded + 84 bps – pushing mortgage rates and pricing significantly lower.

The long term outlook still indicates a bearish market where rates look likely to rise. Most experts recommend locking in pricing on any days with improvement.

Below are rates available today paying a point or less:

30 year fixed: 4% paying 1 point, 4.25% paying 0 points

20 year fixed: 3.75% paying 1 point, 4% paying 0 points

15 year fixed: 3.375% paying .85 points, 3.75% paying 0 points

5/1 ARM: 2.5% paying .87 points; 2.875% paying 0 points

7/1 ARM: 2.875% paying .91 points, 3.125% paying 0 points

30 year fixed High Balance Loan: 4.375% paying .69 points, 4.625% paying 0 points

30 year fixed FHA: 3.75% paying .65 points, 3.99% paying 0 points

15 year fixed FHA: 3.375% paying 1 point, 3.75% paying 0 points

30 year fixed VA: 3.75% paying 0 points

Mortgage Rates Improve With Halloween Bond Rally

MORTGAGE RATES IMPROVE:

MORTGAGE RATES IMPROVE:

October 24th, 2011

Mortgage rates improved slightly last week with the bond market closing + 28 bps on the week. We are still seeing a lot of volatility to in the markets where rates/costs can change a lot in a very short period of time.

My recommendation is to lock in pricing if you looking into a mortgage. The stock market is gaining momentum and I think rates will rise during the last quarter of 2011. In the 4th quarter of 2010, mortgage rates went from 4% to 4.75% in a very short period of time. While I don’t see that much of a change coming, I do feel that mortgage rates will continue to slowly move upwards.   

Below are rates available today paying a point or less:

30 year fixed: 4.125% paying 1 point, 4.375% paying 0 points

20 year fixed: 3.875% paying .74 points, 4.25% paying 0 points

15 year fixed: 3.5% paying .74 points, 3.875% paying 0 points

5/1 ARM: 2.5% paying .88 points; 2.875% paying 0 points

7/1 ARM: 3% paying .59 points, 3.25% paying 0 points

30 year fixed High Balance Loan: 4.5% paying 1 point, 4.875% paying 0 points

30 year fixed FHA: 3.875% paying .69 points, 4.125% paying 0 points

15 year fixed FHA: 3.625% paying .85 points, 3.875% paying 0 points

30 year fixed VA: 3.75% paying .6 points, 3.99% paying 0 points

Today’s Mortgage Interest Rates.  Current Mortgage Rates and APRs for refinancing and purchasing in Arizona, California, and Colorado.  Mortgage Rates Sheets for fixed mortgages, ARM mortgages, Variable Mortgages, Interest Only Mortgages, HARP mortgages, VA mortgages, FHA mortgages, Conforming mortgages, Conventional Mortgages, High Balance Mortgages, Fannie Mae mortgages, Freddie Mac Mortgages,  and Jumbo Mortgages.

MORTGAGE RATES IMPROVE:

 

(HARP) HOME OWNER AFFORDABILITY REFINANCE PROGRAM – UPDATED TO HELP MORE UNDERWATER HOMEOWNERS

NEW GOVERNMENT REFINANCE PROGRAM:

When the government released the Homeowner Affordability Refinance Program (HARP) product two years ago, they envisioned helping 4 million homeowners get into a better mortgage. As of August, only 894,000 people were able to utilize the HARP product to get into a better mortgage.

The basics of the current HARP product allow homeowners in a FANNIE MAE or FREDDIE MAC loan to refinance their current loan at up to 125% Loan to value (though most lenders only do 105% LTV). The original loan had to be taken out before March of 2009. This product was meant to help homeowners with little or no equity refinance their current loan with at a lower rate with no mortgage insurance.

President Obama is scheduled to release revisions to the HARP program this week. The new program is said to uncap the max loan to value of 125%. The new HARP loan will allow more under water homeowners to refinance their current loan at a lower rate with no mortgage insurance.

Many consumers owe much more than 125% of their home’s value. The updated HARP product is meant to help the homeowner’s that the first HARP product could not.

Check below to see if your current loan is backed by FANNIE MAE or FREDDIE MAC. 

FANNIE MAE check: http://www.fanniemae.com/loanlookup/

FREDDIE MAC check: https://ww3.freddiemac.com/corporate/

(HARP) HOME OWNER AFFORDABILITY REFINANCE PROGRAM – UPDATED TO HELP MORE UNDERWATER HOMEOWNERS

TODAY’S MORTGAGE RATES:

TODAY’S MORTGAGE RATES

October 17th, 2011

Last week saw a continuation of the stock market rally from the week before. Stocks were trading higher, increasing the flow of investments from bonds to stocks. The bond market closed -75 bps down – which should have pushed rates a little bit higher. Even so, most rates have stayed the same. Of the 10 business days in October – the bond market has closed down 9 of them.

As of the writing of this email on Monday morning, the stock market is trading down over 100 points – and the bond market is trading up + 42 bps. This should help regain some of the losses from last week. This week should be another volatile week as many companies will be reporting their 3rd quarter earnings.

Below are rates available paying a point or less:

30 year fixed: 4.25% paying .5 points, 4.375% paying 0 points

20 year fixed: 3.875% paying .9 points, 4.25% paying 0 points

15 year fixed: 3.5% paying .74 points, 3.875% paying 0 points

5/1 ARM: 2.75% paying .7 points; 3.5% paying 0 points

7/1 ARM: 3.125% paying .69 points, 4% paying 0 points

30 year fixed High Balance Loan: 4.5% paying .8 points, 4.875% paying 0 points

30 year fixed FHA: 3.75% paying .3 points, 3.875% paying 0 points

15 year fixed FHA: 3.375% paying .7 points, 3.75% paying 0 points

30 year fixed VA: 3.75% paying .2 points, 3.875% paying 0 points

Today’s Mortgage Interest Rates.  Current Mortgage Rates and APRs for refinancing and purchasing in Arizona, California, and Colorado.  Mortgage Rates Sheets for fixed mortgages, ARM mortgages, Variable Mortgages, Interest Only Mortgages, HARP mortgages, VA mortgages, FHA mortgages, Conforming mortgages, Conventional Mortgages, High Balance Mortgages, Fannie Mae mortgages, Freddie Mac Mortgages,  and Jumbo Mortgages.

Today’s Mortgage Rates

MORTGAGE RATES RISE WITH STOCK MARKET RALLY

MORTGAGE RATES RISE WITH STOCK MARKET RALLY:

October 11, 2011

October 2011 has been a great month for the stock market and a bad month for interest rates. The DOW JONES average is up 500 points in October. This recent surge in optimism has taken investors out of the safety of the bond market and into the thriving stock market. The bond market closed last week down (-134 bps) – causing a large jump in mortgage rates/pricing.

The bond market passed certain technical indicators that could make it difficult for rates to drop back down to their record low levels. The stock market is not stable, but there has been some temporary resolutions to the debt crisis in Europe that could keep the market up for the time being.

My lock recommendation is to lock in pricing if a loan is beneficial to you. Many customers get caught waiting for a pie in the sky rate and end up losing a good rate that was beneficial to them. If I lock your loan and rates drop significantly, I can typically float down your rate. If they drop after your loan closes, you can always refinance again. There is no rule to the amount of times you can refinance.

Below are current rates available paying a point or less.

30 year fixed: 4.25% paying .7 points, 4.375% paying 0 points / 4.34% APR

20 year fixed: 4% paying .67 points, 4.375% paying 0 points / 4.12% APR

15 year fixed: 3.625% paying .8 points, 3.875% paying 0 points / 3.75% APR

5/1 ARM: 2.75% paying .67 points / 2.88% APR

7/1 ARM: 3.125% paying .55 points / 3.27% APR

30 year fixed FHA: 3.75% paying .7 points, 3.99% paying 0 points / 4.05% APR

15 year fixed FHA: 3.5% paying .8 points, 3.75% paying 0 points / 3.72% APR

30 year fixed VA: 3.75% paying .55 points, 3.99% paying 0 points / 4.05% APR

30 year fixed High Balance Loan: 4.5% paying .88 points, 4.875% paying 0 points / 4.61% APR

Today’s Mortgage Interest Rates.  Current Mortgage Rates and APRs for refinancing and purchasing in Arizona, California, and Colorado.  Mortgage Rates Sheets for fixed mortgages, ARM mortgages, Variable Mortgages, Interest Only Mortgages, HARP mortgages, VA mortgages, FHA mortgages, Conforming mortgages, Conventional Mortgages, High Balance Mortgages and Jumbo Mortgages.

CLINE / 21321 East Ocotillo Road B105 / Queen Creek, AZ 85142

NMLS: 229993

Mortgage Rates Rise with Stock Market Rally.

 

 

 

30 Year Fixed Rates Down to 3.75%

MORTGAGE RATES RISE, THEN COME BACK DOWN:

October 3rd, 2011

The beginning of last week started off bad for interest rates. After hitting their lowest levels ever on the previous Thursday, mortgage pricing took big hits on Friday, Monday and Tuesday. The stock market was up and the secondary bond market was down pushing mortgage rates higher.

Luckily, the higher interest rate levels did not last long. The bond market closed slightly higher on Wednesday and Thursday, and then really rallied on Friday. Overall on the week – the bond market closed Friday unchanged – (0 bps).

Below are current rates available paying a point or less.

30 year fixed: 3.75% paying .86 points, 3.875% paying 0 points

20 year fixed: 3.75% paying 0 points

15 year fixed: 3.25% paying .66 points, 3.375% paying 0 points

5/1 ARM: 2.5% paying .6 points, 2.75% paying 0 points

7/1 ARM: 2.75% paying .86 points, 3.125% paying 0 points

30 year fixed FHA: 3.75% paying 0 points

15 year fixed FHA: 3.25% paying 0 points

30 year fixed VA: 3.75% paying 0 points

30 year fixed High Balance Loan: 4.125% paying .88 points, 4.375% paying 0 points

Today’s Mortgage Interest Rates.  Current Mortgage Rates and APRs for refinancing and purchasing in Arizona, California, and Colorado.  Mortgage Rates Sheets for fixed mortgages, ARM mortgages, Variable Mortgages, Interest Only Mortgages, HARP mortgages, VA mortgages, FHA mortgages, Conforming mortgages, Conventional Mortgages, High Balance Mortgages and Jumbo Mortgages

October 3rd, 2011 – 30 Year Fixed Rates Down to 3.75%