INTEREST RATES IMPROVE FOR 2ND STRAIGHT WEEK:

INTEREST RATES IMPROVE FOR 2ND STRAIGHT WEEK:

July 22nd, 2013

Interest rates improved for the second straight week. The Mortgage Backed Security Market closed up + 81 bps, bringing us back to pre-4th of July level pricing.

On Wednesday, Ben Bernanke testified in front of Congress that the Fed’s tapering of it’s bond purchasing program was not “imminent”, but that the FED was monitoring the economy. When the FED feels the economy is where it needs to be, then the FED will begin to end it’s stimulus.

This helped the markets because many investors felt the FED was planning on slowing down it’s bond purchasing in September. I still believe the FED will slow down the stimulus in September, unless some event pulls back the forecast of the economy.

I expect rates to be relatively calm until the July unemployment report. These employment reports are huge moving forward, and will likely be one of the key determining factors in the FED’s decision to slow down it’s bond purchasing program. The July employment numbers are released next Friday morning.

I am recommending to lock on any improvement in rate pricing.

Make it a great week!!

BEST VALUE OF THE WEEK:

20 Year Fixed at 4.25% with 0 points

TODAY’S RATES:

30 year fixed:      4.25% – 1 point, 4.5% – 0 points, 4.625% – $0 costs

20 year fixed:      4.125% – .43 points, 4.25% – 0 points, 4.5% – $0 costs

15 year fixed:     3.5% – .57 points, 3.625% – 0 points, 4% – $0 costs

5/1 ARM:     2.75%: – .85 points, 3.125% – 0 points

7/1 ARM:     3.125% – .79 points, 3.5% – 0 points

10/1 ARM:     3.875% – .89 points, 4.375% – 0 points

30 year fixed FHA:     3.75% – .62 points, 4% – 0 points, 4.125% – $0 costs

15 year fixed FHA:     3.25% – .63 points, 3.5% – 0 points, 3.75% – $0 costs

30 year fixed VA:     4% – .10 points, 4.125% – 0 points, 4.25% – $0 costs

TR - 7-22-2013

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.

JULY 22ND 2013, INTEREST RATES IMPROVE FOR 2nd STRAIGHT WEEK

INTEREST RATES IMPROVE .25% – 30 YEAR FIXED TO 4.375%

INTEREST RATES IMPROVE .25%  – 30 YEAR FIXED TO 4.375%

July 15th, 2013

Interest rates gained some positive momentum after the worst day for interest rates in over 10 years on Friday, July 5th.  The market is rebounding, which can often happen when rates move one way very quickly, signaling a possible overreaction by the market.

The Mortgage Backed Security market closed last week trading up + 118 bps and closed Monday, July 15th trading up + 35 bps.  Although interest rate pricing is still not at prior to 4th of July levels, interest rates improving 5 of the past 6 days is a step in a positive direction.

Last Wednesday was interesting in that we saw the release of the FED minutes from the June FOMC meeting and Ben Bernanke delivered a speech later in the day.  The FED minutes showed that about 50% of the FED wants to taper the QE stimulus in 2013.  This further confirmed the market’s belief that the FED’s asset purchasing program would soon be coming to an end.  Then later in the day, Ben Bernanke made a vague speech stating that the FED planned to keep monetary policy positive for business and that the US economy was still not where they wanted it.

Basically what we are seeing is Bernanke back tracking a bit because no one though interest rates would move up this quickly. 

On Wednesday and Thursday, Bernanke will be testifying before the House and the Senate.  Expect further volatility depending on how he answers Congress’s questions.  If he gives the impression that QE will last through the end of 2013, I would expect to see rates improve. 

Until the FED plainly states it’s direction, volatility in the market will continue to be the norm.  When the FED finally does end it’s QE stimulus, expect rates to jump quickly. 

Make it a great week!!       

BEST VALUE OF THE WEEK:    

5/1 ARM at 3.375% with 0 points

TODAY’S RATES:

30 year fixed:     4.375% – 1 point,     4.625% – 0 points,     4.75% – $0 costs

20 year fixed:   4.125% – .81 points,     4.25% – 0 points,     4.625%  – $0 costs

15 year fixed:   3.5% – .73 points,     3.75% – 0 points,     4% – $0 costs

5/1 ARM:   2.875% – .98 points,     3.375% – 0 points

7/1 ARM:    3.25% – .96 points,     3.875% – 0 points

10/1 ARM:    4.125% – 1 point,     4.625% – 0 points

30 year fixed FHA:    3.875% – .6 points,     4% – 0 points,      4.25% – $0 costs

15 year fixed FHA:    3.25% – .85 points,     3.5% – 0 points,      3.75% – $0 costs

30 year fixed VA:    4.25% – $0 costs

TR - July 15th, 2013

INTEREST RATES IMPROVE .25%  – 30 YEAR FIXED TO 4.375%

INTEREST RATES IMPROVE – 30 YEAR FIXED TO 4.25%

INTEREST RATES IMPROVE  –  30 YEAR FIXED TO 4.25%

July 1st, 2013

After the blood bath for interest rates the week before, interest rates managed to pull back some as the panic selling began to taper on Monday.  On Monday morning, the mortgage backed security market was trading down over – 100 bps, and then pulled back close to even by the end of the day.  This was a great sign as it looked like 30 year fixed rates might be at 5% by the end of the week.

The MBS market finished the week quite strong, closing up + 106 bps, with 30 year fixed interest rates down to 4.25%.  

Don’t be fooled though – interest rates will not go back to the mid 3% levels they had been at for quite some time.  The pull back was mainly due to the market panic selling which usually results in a correction the other way.

Ben Bernanke stated very clearly that the FED would likely curtail their asset purchases by the end of 2013 and completely stop them by 2014.  This means that the FED keeping rates lower than they should be will be coming to an end soon – the main question is when.  Some other members of the FED have diffused Bernanke’s comments, stating that there is no set time to stop and that quantitative easing will continue until the economy’s progress dictates them to stop.

Expect interest rate volatility to continue with all eyes on the FED’s actions.  I don’t expect rates to go down significantly unless there is a major economic event that reveals the economy is not progressing like the FED currently thinks it is.  In the long term, I expect rates to continue to rise although we may see some improvement in the short term.  I recommend locking on any improvement. 

Make it a great week and have a happy and safe 4th of July!!           

BEST VALUE OF THE WEEK:

30 Year Fixed at 4.5% with 0 points

TODAY’S RATES:

30 year fixed:     4.25% – 1 point,     4.5% – 0 points,     4.625% – $0 costs

20 year fixed:   4% – .95 points,     4.25% – 0 points,     4.375%  – $0 costs

15 year fixed:   3.5% – .48 points,     3.625% – 0 points,     3.875% – $0 costs

5/1 ARM:   2.75% – 1 point,    3.25% – 0 points

7/1 ARM:    3% – 1 point,     3.5% – 0 points

10/1 ARM:    3.875% – 1 point,     4.625% – 0 points

30 year fixed FHA:    3.75% – .53 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:    3.875% – .81 points,     4.25% -$0 costs

Today's Interest Rates - July 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  –  30 YEAR FIXED TO 4.25%

Today’s Rates – 30 Year Fixed at 3.375%

TODAY’S RATES – 30 YEAR FIXED AT 3.375%

January 14th, 2012

Last week interest rates rose after hitting their best levels of the year on Monday. The Mortgage Backed Security Market traded down (– 50 bps) on Thursday, but recovered some on Friday. Overall on the week, the MBS market closed down (-5 bps).

Technical indicators are showing that the market has a higher appetite for stocks and a smaller appetite for bonds. If this trend continues we will continue to see interest rates trend higher, like they have over the past 2 months.

I recommend locking in pricing on any improvements in the market. I am going to Hawaii for 10 days on January 28th. If you think you would like to get something started this week, please call/email as soon as you can.

Hawaii

Have a great week!!

BEST VALUE OF THE WEEK:

15 Year Fixed at 2.99% with $0 costs

TODAY’S RATES:

30 year fixed:      3.375% paying .87 points,      3.5% paying 0 points,      3.75% – $0 costs
20 year fixed:      3.375% paying .53 points,      3.5% paying 0 points,       3.625% – $0 costs
15 year fixed:      2.75% paying .42 points,       2.875% paying 0 points,       2.99% – $0 costs
5/1 ARM:      2.25% paying .98 points,       2.625% paying 0 points,      2.875% – $0 costs
7/1 ARM:      2.5% paying .87 points,       2.75% paying 0 points,      3.125%- $0 costs
30 year fixed High Balance Loan:      3.625% paying .41 points;       3.75% paying 0 points;       4% – $0 costs
30 year fixed FHA:      3.25% – $0 costs
15 year fixed FHA:       2.75% – 0 points,       3% – $0 costs
30 year fixed VA:      3.25% – $0 costs

TR-1-21-2013

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.

Today’s Rates – 30 Year Fixed at 3.375%