mortgage rates rise

WEEKLY RATE – Interest Rates Trending Up Going into 2016

WEEKLY RATE – Interest Rates Trending Up Going into 2016

December 2015

After some improvement in mortgage rates after the FED announcement, rates have begun to trend up.

The Mortgage Backed Security (MBS) market closed last week down – 24 bps and is trading down -18 bps this week.

Currently interest rate pricing is close to the highest levels since July of 2015 and most analysts believe mortgage interest rates will rise in 2016.

Have a Happy and Safe New Years!!

For a free email mortgage quote, please answer questions on the right or go to:

WWW.FREEMORTGAGEQUOTE.BIZ

Below are today’s interest rates. Have a great week!!

TODAY’S INTEREST RATES:

30 year fixed:      4.125% – .73 points (4.27% APR),       4.25% – 0 points (4.29% APR)
20 year fixed:       4.0% – .46 points (4.1 % APR),       4.125% – 0 points (4.16% APR)
15 year fixed:       3.375 % – .84 points (3.54% APR),        3.625% – 0 points (3.67% APR)
10 year fixed:       3.25% – .93 points (3.43% APR),        3.5% – 0 points (3.52% APR)
5/1 ARM:       3.5% – 1 point (3.7% APR),        4.125% – 0 points (4.17% APR)
7/1 ARM:       3.625% – .99 points (3.83% APR),        4.125% – 0 points (4.15% APR)
30 year fixed FHA:       3.75% – .48 points (4.54% APR),        3.875% – 0 points (4.57% APR)
15 year fixed FHA:       3.375% – .7 points (3.81% APR),       3.625% – 0 points (3.82% APR)
30 year fixed VA:       3.75% – .73 points (3.89% APR),       4.0% – 0 points (4.04% APR)

Today's Interest Rates - December 29th, 2015

Today’s Mortgage Interest Rates. Current Mortgage Interest Rates and APRs for refinancing and purchasing in Arizona, California, Colorado, Washington, and Virginia. Arizona Home Loans, California Home Loans, Colorado Home Loans, Washington Home loans, Virginia 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, HARP 3.0 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 29th 2015 30 year fixed rates, December 30th 2015 30 year fixed rates, December 31st 2015 30 year fixed rates, January 1st 2015 30 year fixed rates, January 2nd 2015 30 year fixed rates, January 3rd 2015 30 year fixed rates, January 4th 2015 30 year fixed rates.

WEEKLY RATE – Interest Rates Trending Up Going into 2016

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Rates Move Up 4 of the last 5 days – FED statement on Wednesday

Rates Move Up 4 of the last 5 days – FED statement on Wednesday

September 15th, 2014

After a modest gain last Monday of + 4 bps, Interest rates went up Tuesday through Friday with the Mortgage Backed Security (MBS) market ending down – 71 bps on the week.

On Monday – the market closed + 15 bps, pulling up a bit higher over the 200 day average.

The big news this week is the FED meeting and subsequent Janet Yellen press conference. There is considerable belief that the FED will change the verbiage of the official policy statement – removing the notion that the FED would not hike rates for a considerable time after their asset purchasing ends.   This has caused anxiety and sell offs in the MBS market – the market most closely associated to Interest Rates.

I would highly recommend locking before Wednesday to protect yourself.

Currently rates are a bit higher but still in the general range they have maintained for most of the past year and 2 months.

For a free email mortgage quote, please answer questions on the right or go to http://www.freemortgagequote.biz

Below are today’s interest rates. Have a great week!!

BEST VALUE OF THE WEEK:

30 Year Fixed at 4.375% paying 0 points

15 Year Fixed at 3.5% paying 0 points

TODAY’S INTEREST RATES:

30 year fixed:        4.25% – .42 points (4.33% APR),         4.375% – 0 points (4.39% APR)

20 year fixed:       4% – .98 points (4.2% APR),         4.125% – 0 points (4.16% APR)

15 year fixed:        3.375% – .65 points (3.5% APR),        3.5% – 0 points (3.55% APR)

10 year fixed:        3.125% – .97 points (3.28% APR),        3.375% – 0 points (3.41% APR)

5/1 ARM:       3% – .78 point (3.17% APR),         3.25% – 0 points (3.3% APR)

7/1 ARM:        3.25% – .68 points (3.37% APR),         3.625% – 0 points (3.7% APR)

30 year fixed FHA:        3.75% – 0 points (4.75% APR)

15 year fixed FHA:         3.25% – 0 points (3.55% APR)

30 year fixed VA:        3.75% – .20 points (3.79% APR), 3.875% – 0 points (3.9% APR)

Today's Interest Rates - September 15th, 2014

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, HARP 3.0 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. September 15th 2014 30 year fixed rates, September 16th 2014 30 year fixed rates, September 17th 2014 30 year fixed rates, September 18th 2014 30 year fixed rates, September 19th 2014 30 year fixed rates, September 20th 2014 30 year fixed rates, September 21st2014 30 year fixed rates.

Rates Move Up 4 of the last 5 days – FED statement on Wednesday

RATES RISE – 30 YEAR FIXED TO 4.125%

RATES RISE – 30 YEAR FIXED TO 4.125%

September 8th, 2014

Last week had 2 important events for interest rates.

On Thursday – the ECB announced a less than expected plan and no specifics to deal with the European Union’s problems. Mortgage backed securities sold off – and rates rose.

On Friday – the August employment report was released and non farm job creation fell well below expectations. The market estimated 225k in job growth, but the report revealed only 143k new jobs. The problem is August is notoriously bad and hard to gauge correct job creation with the amount of seasonal employment in the month. The MBS market initially went way up, but then came back to close to even with the realization that these numbers will most likely be adjusted higher with most other economic reports showing improvement.

MBS ended the week trading down – 35 bps – pushing interest rate pricing a bit higher. 30 year fixed rates are now at 4.125% paying less than a point. Most other products didn’t change much on the rate, but the closing costs are higher for each rate.

I still believe there is not much to gain by floating a rate, and locking is the better option.

For a free email mortgage quote, please answer questions on the right or go to http://www.freemortgagequote.biz

Below are today’s interest rates. Have a great week!!

BEST VALUE OF THE WEEK:

7/1 ARM at 3.375% paying 0 points

30 Year Fixed FHA at 3.75% paying 0 points

TODAY’S INTEREST RATES:

30 year fixed:       4.125% – .15 points (4.15% APR),       4.25% – 0 points (4.29% APR)

20 year fixed:      3.875% – .63 points (3.99% APR),       4.125% – 0 points (4.14% APR)

15 year fixed:       3.25% – .75 points (3.39% APR),        3.5% – 0 points (3.53% APR)

10 year fixed:      3.0% – .97 points (3.2% APR),       3.125% – 0 points (3.13% APR)

5/1 ARM:       2.75% – .89 point (2.91% APR),       3% – 0 points (3.05% APR)

7/1 ARM:       3.125% – .54 points (3.23% APR),        3.375% – 0 points (3.4% APR)

30 year fixed FHA:       3.375% – 1 point (4.575% APR),       3.625% – 0 points (4.65% APR)

15 year fixed FHA:      3% – .98 points (3.5% APR),       3.25% – 0 points (3.55% APR)

30 year fixed VA:       3.5% – .80 points (3.66% APR),        3.75% – 0 points (3.78% APR)

Today's Interest Rates - September 8th, 2014

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, HARP 3.0 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. September 8th 2014 30 year fixed rates, September 9th 2014 30 year fixed rates, September 11th 2014 30 year fixed rates, September 12th 2014 30 year fixed rates, September 13th 2014 30 year fixed rates, September 14th 2014 30 year fixed rates, September 15th 2014 30 year fixed rates.

RATES RISE – 30 YEAR FIXED TO 4.125%

TODAY’S MORTGAGE INTEREST RATES – 30 YEAR FIXED BACK TO 4.125%

TODAY’S MORTGAGE INTEREST RATES – 30 YEAR FIXED BACK TO 4.125%

July 21st, 2014

Interest Rate pricing moved up on my rate sheets this week even though the MBS market closed + 2 bps. Every day the MBS market closed down except Thursday, when markets reacted to the reports of a civilian plane being shot down in the Ukraine.

As has been the case for much of the past year – interest rates are staying in the same range and I expect that to continue for now. I don’t see the events in Ukraine and the Gaza strip having a huge effect on interest rates unless a conflict erupts with Russia or the Israel conflict brings in other countries from the region.

30 Year Fixed rates are now starting at 4.125% with 15 year fixed rates starting at 3.25%.

Next week many firms will be reporting their 2nd quarter earnings. June existing and new home sales reports will be released. After the dust settles, I see rates remaining in the same range at the end of next week.

For a free email mortgage quote, please answer questions on the right or go to http://www.freemortgagequote.biz.

Below are today’s interest rates.  Have a great week!!

BEST VALUE OF THE WEEK:

30 Year Fixed at 4.25% paying 0 points

15 Year Fixed at 3.625% with $0 costs

TODAY’S INTEREST RATES:

30 year fixed:       4.125% – .55 points (4.235% APR),       4.25% – 0 points (4.3% APR)

20 year fixed:       3.875% – .52 points (3.98% APR),        4.125% – 0 points (4.17% APR)

15 year fixed:        3.25% – .8 points (3.41% APR),        3.5% – 0 points (3.53% APR)

10 year fixed:        3% – 1 point (3.2% APR),        3.25% – 0 points (3.29% APR)

5/1 ARM:        2.875% – .73 points (3.04% APR),         3.125% – 0 points (3.13% APR)

7/1 ARM:       3.125% – 1 point (3.325% APR),        3.375% – 0 points (3.4% APR)

30 year fixed FHA:        3.625% – .75 points (4.69% APR),        3.75% – 0 points (4.75% APR),

15 year fixed FHA:        3% – .83 points (3.46% APR),        3.25% – 0 points (3.55% APR)

30 year fixed VA:        3.75% – 0 points (3.82% APR)

Today's Interest Rates - July 21st, 2014

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. July 21st 2014 30 year fixed rates, July 22nd 2014 30 year fixed rates, July 23rd 2014 30 year fixed rates, July 24th 2014 30 year fixed rates, July 25th 2014 30 year fixed rates, July 26th 2014 30 year fixed rates, July 27th 30 year fixed rates.

TODAY’S MORTGAGE INTEREST RATES – 30 YEAR FIXED BACK TO 4.125%

MORTGAGE RATES MOVE HIGHER – JULY INTEREST RATE SPECIAL

MORTGAGE RATES MOVE HIGHER – JULY INTEREST RATE SPECIAL

July 7th, 2014

I hope everyone had a happy and safe 4th of July Holiday weekend.

Interest rates went up last week with signals that we could have a higher than anticipated jobs report on Thursday. The June employment report confirmed this thinking with Non Farm job creation coming in at 288,000 over an estimated 212,000.

Luckily, the markets had already moved higher before Thursday – thus when the actual report was released we didn’t see a ton of movement higher as it was already reflected in the market.

On the week – the Mortgage Backed Security market (MBS) closed down – 65 basis points pushing rates higher than the previous week.

In an effort to have a great July volume month – my company is offering a July interest rate special. Below are the discounts that are reflected in my rate pricing today. This special has limited the movement up of our rate sheet and in some cases improved rate pricing even though the market is moving higher.

IN THE INTEREST OF HAVING A HUGE JULY, MANAGEMENT JUST LOWERED OUR RATES:

1. Conventional (50 bps)
2. High Balance Conforming (37.5bps)
3. FHA/FHA High Balance and VA/VA High Balance rates reduced by (100 bps)
4. Jumbo (25bps)

Please contact me if you would like to take advantage of the July interest rate special as it can end at any time.

Have a great week!!

For a free email mortgage quote, please go to the mortgage quote tab on the right or go to http://www.freemortgagequote.biz.

Below are today’s interest rates – have a wonderful week and a fantastic Independence Day!!

BEST VALUE OF THE WEEK:

30 Year Fixed at 4.25% paying 0 points

10 Year Fixed at 3.25% paying 0 points

TODAY’S INTEREST RATES:

30 year fixed:      4.125% – .77 points (4.275% APR),      4.25% – 0 points (4.29% APR)

20 year fixed:      4% – .54 points (4.11% APR),       4.125% – 0 points (4.16% APR)

15 year fixed:       3.25% – .79 points (3.41% APR),       3.375% – 0 points (3.41% APR)

10 year fixed:      3% – .95 points (3.19% APR),      3.25% – 0 points (3.29% APR)

5/1 ARM:      2.875% – .93 points (3.07% APR),       3.125% – 0 points (3.13% APR)

7/1 ARM:       3.25% – .85 points (3.42% APR),        3.5% – 0 points (3.54% APR)

30 year fixed FHA:       3.75% – 0 points (4.75% APR),

15 year fixed FHA:        3.25% – 0 points (3.59% APR)

30 year fixed VA:         3.75% – 0 points (3.82% APR)

Today's Interest Rates - July 7th 2014

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. July 7th 2014 30 year fixed rates, July 8th 2014 30 year fixed rates, July 9th 2014 30 year fixed rates, July 10th 2014 30 year fixed rates, July 11th 2014 30 year fixed rates, July 12th 2014 30 year fixed rates, July 13rd 2014 30 year fixed rates.

MORTGAGE RATES MOVE HIGHER – JULY INTEREST RATE SPECIAL

RATES MOVE HIGHER WITH EMPLOYMENT REPORT / MARCH RATE LOCK SPECIAL

RATES MOVE HIGHER WITH EMPLOYMENT REPORT / MARCH RATE LOCK SPECIAL

March 10th, 2014

Rates moved higher 4 of the 5 days last week with the mortgage backed security market closing the week down – 94 bps. The week was capped with the February employment report which beat estimates for the first time in many months.

Non-farm payroll jobs increased 175k versus estimates of 139k. This shot the MBS market way down on Friday, closing at their highest levels since mid January. Unfortunately, this report usually points the direction for interest rates in the coming month. The good jobs report along with a FED meeting in March where the FED is expected to lower it’s bond purchases by another 10 billion, lead me to believe that this will not be a good month for interest rates.

My company is still offering a limited time March rate lock special. This special is off setting the rise in rate pricing with discount of:

.375 bps off conforming fixed loans
.5 bps off FHA/VA fixed loans

Please contact me if you would like to take advantage of the March rate lock special.

For a free email mortgage quote, please go to mortgage quote tab on the right side of this page.  Below are today’s interest rates and have a wonderful week!!

BEST VALUE OF THE WEEK:

20 Year Fixed at 4.25% with 0 points

10 Year Fixed at 3.25% with 0 points

TODAY’S INTEREST RATES:

30 year fixed:      4.375% – .51 points,      4.5% – 0 points,      4.625% – $0 costs

20 year fixed:       4.125% – .32 points,       4.25% – 0 points,        4.375% – $0 costs

15 year fixed:       3.375% – .36 points,       3.5% – 0 points,        3.625% – $0 costs

10 year fixed:       3% – .7 points,       3.25% – 0 points,      3.5% – $0 costs

5/1 ARM:       2.75% – .96 points,       3% – 0 points,       3.375% – $0 costs

7/1 ARM:      3.125% – .97 points,       3.375% – 0 points,        3.625% – $0 costs

30 year fixed FHA:      3.75% – .77 points,      4% – 0 points,       4.125% – $0 costs

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

30 year fixed VA: 3.75% – .5 points, 3.875% – 0 points, 4.125% – $0 costs

Today's Interest Rates - March 10th, 2014

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. March 10th 2014 30 year fixed rates, March 11th 2014 30 year fixed rates, March 12th 2014 30 year fixed rates, March 13th 2014 30 year fixed rates, March 14th 2014 30 year fixed rates, March 15th 2014 30 year fixed rates, March 16th 2014 30 year fixed rates.

RATES MOVE HIGHER WITH EMPLOYMENT REPORT / MARCH RATE LOCK SPECIAL

INTEREST RATES MOVE HIGHER

INTEREST RATES MAKE MOVE HIGHER

February 18th, 2014

I hope everyone had a nice Valentine’s day and the day off for President’s day.

After steadily improving for most of 2014, mortgage interest rates finally moved higher last week. The Mortgage Backed Security (MBS) market finished the week trading down -54 basis points, pushing 30 year fixed conforming rates to 4.375% costing .83 points at the end of the day on February 14th, 2014. 15 Year Fixed conforming rates did not move as much, but finished Friday at 3.375% costing .7 points.

Janet Yellen’s (the new FED Cheif) testimony last week made it very clear the FEDs outlook on the economy and Quantitative Easing moving forward. Yellen was enthusiastic about increased growth in the US economy in 2014, and mentioned that the slower growth in 2014 thus far could be a factor of the bad weather that has hurt the economy on the East coast – where a large share of the economy lives and works.

She also stated that the FED would continue to taper the stimulus QE3 and that they should be out of the market completely by the end of 2014. This is big news and likely means the FED will taper at every meeting this year until there is no more to taper. With the FED getting out of the mortgage business – the long term interest rate outlook remains one of increasing interest rates. Remember, the FED getting into the MBS market pushed rates to their historically low levels 3 years ago. With the FED getting out of the MBS market, interest rates should continue to go up.

Have a great week!!

BEST VALUE OF THE WEEK:

15 Year Fixed at 3.5% with 0 points
7/1 ARM at 3.375% with 0 points

TODAY’S INTEREST RATES:

30 year fixed:      4.375% – .83 points,      4.5% – 0 points,       4.625% – $0 costs

20 year fixed:     4.125% – .88 points,       4.375% – 0 points,       4.5% – $0 costs

15 year fixed:       3.375% – .7 points,      3.5% – 0 points,      3.75% – $0 costs

10 year fixed:       3.125% – .67 points,       3.375% – 0 points,        3.5% – $0 costs

5/1 ARM:       2.875% – .72 points,       3.125% – 0 points,       3.375% – $0 costs

7/1 ARM:       3.125% – .95 points,      3.375% – 0 points,        3.625% – $0 costs

30 year fixed FHA:       3.75% – 1 point,       4% – 0 points,       4.25% – $0 costs

15 year fixed FHA:       3.25% – .1 points,        3.375% – 0 points,        3.5% – $0 costs

30 year fixed VA:       3.875% – .24 points,        4% – 0 points,        4.125% – $0 costs

Today's Interest Rates - February 18th, 2014

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.  Scottsdale Mortgage Banker.  McCormick Ranch Mortgage Loan Officer.  February 18th, 2014 Mortgage Interest Rates, February 19th 2014 Mortgage Interest Rates, February 20th 2014 Mortgage Interest Rates, February 21st 2014 Mortgage Interest Rates, February 22nd 2014 Mortgage Interest Rates, February 23rd 2014 Mortgage Interest Rates, February 24th 2014 Mortgage Interest Rates

INTEREST RATES MOVE HIGHER

 

FED TAPERS – RATES WILL GO UP IN 2014 WITH GSE FEE INCREASE

FED TAPERS – RATES WILL GO UP IN 2014 WITH GSE FEE INCREASE

December 26th, 2013

I hope everyone had a Happy and Safe Holiday!!

As many have heard by now – The FEDERAL RESERVE BOARD finally decided to taper their bond purchasing program – capping months of speculation on when the move would take place.   The FED will reduce it’s bond purchasing by 10 million per month. This relatively small taper as well as the market already taking into account that a taper would happen helped rates not go through the roof. Still mortgage interest rates are much higher than most have become accustomed to and will head higher in 2014.

GSE FEE INCREASE IN 2014:

Along with more tapering likely coming from the FEDERAL RESERVE BOARD in 2014, the GSEs FANNIE MAE and FREDDIE MAC announced fee changes to lenders last week.

These fee changes will raise the rate for most borrowers .125% – .375% once they hit lender rate sheets. After announcing the Fee change, FHFA director Mel Watt pulled back the implementation, announcing a delay in the fee change until he is able to further determine if this plan of action is the best way to move forward.

So at this point, the fee changes which raises the fees FANNIE MAE and FREDDIE MAC charge lenders to buy their loans is delayed after most expected these changes to hit lender rate sheets in January 2014.

If/when these changes going into effect – they will dramatically raise rate/borrower costs for most borrowers. Loan level pricing adjustments are certain characteristics of a customer’s loan that cause the loan to be more expensive. Some of the changes announced:

– Highest qualifying credit score will now be 800, currently any borrower with a 740+ credit score will get best mortgage pricing
– Cash out loans will increase in rate/costs
– Lower credit score borrowers will increase in rate/costs
– Investment property loans will increase in rate/costs

Below is a chart of the proposed loan level pricing adjustment for Fannie Mae and Freddie Mac in 2014.  Below is also a great article explaining the Fee changes:

http://www.mortgagenewsdaily.com/12172013_mortgage_rates_to_take_big_hit_from_fee_hikes.asp 

Fannie_Mae_LLPA

So at this point these changes are delayed, but I guarantee fee increases are coming – but maybe not as drastic as the ones announced.

All signs point to higher rates in 2014.

It has been a great few years with record low mortgage interest rates. If you haven’t taken advantage, I would recommend locking in before rates continue to move higher.

Have a great week!!

BEST VALUE OF THE WEEK:

10 Year Fixed at 3.5% with 0 points

5/1 ARM at 3.25% with 0 points

TODAY’S RATES:

30 year fixed:     4.625% – .30 points,      4.75% – 0 points,      4.875% – $0 costs

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

15 year fixed:      3.625% – .49 points,      3.75% – 0 points,       4% – $0 costs

10 year fixed:      3.25% – .99 point,      3.5% – 0 points,       3.75% – $0 costs

5/1 ARM:       3% – .81 points,       3.25% – 0 points,        3.625% – $0 costs

7/1 ARM:       3.375% – 1 point,        3.75% – 0 points,        4% – $0 costs

30 year fixed FHA:      4.125% – .37 points,       4.25% – $0 costs

15 year fixed FHA:      3.375% – .95 points,      3.625% – 0 points,       3.75% – $0 costs

30 year fixed VA:       4.125% – .83 points,       4.25% – 0 points,       4.375% – $0 costs

Today's Interest Rates - December 26th, 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 26th mortgage interest rates, December 27th mortgage interest rates, December 28th mortgage interest rates, December 29th mortgage interest rates, December 30th mortgage interest rates.

FED TAPERS    –     RATES WILL GO UP IN 2014 WITH GSE FEE INCREASE

ALL EYES ON FED STATEMENT WEDNESDAY – 50/50 CHANCE FOR TAPERING

ALL EYES ON FED STATEMENT WEDNESDAY  –   50/50  CHANCE FOR TAPERING

December 16th, 2013

All eyes are on the FED and The FOMC meeting this week.  The FOMC starts their meeting on Tuesday and will release their statement at 2 pm Eastern on Wednesday.

There is more and more speculation that the FED could taper at this meeting – many experts now calling it a 50/50 proposition.  Some prognosticators are actually predicting the FED to taper like the opinion below:

“We now look for the Fed to do something meaningful at the December 18 meeting,” wrote Michael Moran at Daiwa Capital Markets America in a note. “We view the announcement of a reduction in asset purchases as the most likely outcome; absent this, we expect some type guidance on the FOMC’s plans for the effort.”

If the FED tapers, the markets will also be looking at how much they will pull back on their bond purchasing budget.  Any sort of taper will likely mean a large rise in rates.

Federal Reserve Board's Federal Open Market Committee members pose during two-day meeting in Washington.

With interest rates at around 4 month highs – I am still suggesting locking before the meeting.  If rates drop significantly after the announcement (unlikely) – rate float downs are available when rates drop .25% with the same costs.

Have a great week!!

BEST VALUE OF THE WEEK:

20 Year Fixed at 4.375% with 0 points

10 Year Fixed at 3.375% with 0 points

TODAY’S RATES:

30 year fixed:     4.5% – .58 points,     4.625% – 0 points,     4.75% – $0 costs

20 year fixed:   4.125% – .99 points,     4.375% – 0 points,     4.5%  – $0 costs

15 year fixed:   3.5% – .63 points,     3.625% – 0 points,     3.875% – $0 costs

10 year fixed:   3.125% – .63 point,     3.375% – 0 points,     3.625% – $0 costs

5/1 ARM:   2.75% – .99 points,     3.125% – 0 points,     3.375% – $0 costs

7/1 ARM:    3.25% – .83 points,     3.5% – 0 points,     3.75% – $0 costs

30 year fixed FHA:     4% – .56 points,     4.125% – 0 points,     4.25% – $0 costs

15 year fixed FHA:    3.25% – .81 points,     3.5% – $0 costs,     3.75% – $0 costs

30 year fixed VA:     4% – 1 point,    4.25% – $0 costs

Today's Interest Rates - December 16th, 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 16th mortgage interest rates

ALL EYES ON FED STATEMENT WEDNESDAY   –   50/50 CHANCE FOR TAPERING

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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