INTEREST RATES CONTINUE TO IMPROVE – 30 YEAR FIXED DOWN TO 4.125%

INTEREST RATES CONTINUE TO IMPROVE – 30 YEAR FIXED DOWN TO 4.125%

May 27th, 2014

Mortgage interest rates continue to slowly improve – currently at their lowest levels in 11 months.

The Mortgage Backed Security market closed Monday, May 27th, trading up + 15 bps. The MBS market closed up + 30 bps last week, and up + 40 bps the week before.
There are a few main reasons that interest rates are continuing to show improvement.

The Ukraine situation is still volatile and military conflict is a possibility. Investors seek safety through US treasuries and Mortgage Backed Securities which helps improve interest rates.

Some experts believe that the stock market is trading much higher than it should based upon the actual performance of the companies. Some hold the view that a large correction could be in the future, which increases investment into US treasuries and MBS.

Lastly, it is expected that the European Central Bank will add another stimulus next week – which like the US’s Quantitative Easing – is a positive for mortgage interest rates.

All of these situations are helping rates move lower, but most experts don’t believe rates will go much lower than they are right now. The market hasn’t allowed 30 year fixed rates to drop back into the 3%’s since they rapidly moved up 12 months ago when the FED said they would likely taper their stimulus package.

So we are in high risk, low reward situation. Rates may go a little bit lower, but it’s very unlikely they will drop below 4%. Most experts believe rates are going to move higher – the question is when it will happen. With rates being at their lowest levels in 11 months, I lean towards the safe side and recommend locking.

Last week, I missed my first weekly update in quite a few years. My wife Sarah and I welcomed our 2nd child into the world – Dylan Rose Green. She was born at 12:20 AM on May 19th. She is healthy and we are truly blessed to have 2 great kids.

Dylan

 

 

 

 

 

 

Dylan and Jack

 

 

 

 

 

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

Below are today’s interest rates – have a wonderful week!!

BEST VALUE OF THE WEEK:

30 Year Fixed at 4.25% paying 0 points

5/1 ARM at 3% paying 0 points

TODAY’S INTEREST RATES:

30 year fixed:       4.125% – .46 points (4.215% APR),       4.25% – 0 points (4.27% APR)

20 year fixed:      3.875% – .73 points (4.02% APR),      4.125% – 0 points (4.13% APR)

15 year fixed:      3.25% – .65 points (3.38% APR),      3.375% – 0 points (3.41% APR)

10 year fixed:      3% – .6 points (3.12% APR),       3.25% – 0 points (3.28% APR)

5/1 ARM:       2.75% – .82 points (2.92% APR),       3% – 0 points (3.04% APR)

7/1 ARM:       3.125% – .82 points (3.28% APR),       3.375% – 0 points (3.4% APR)

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

15 year fixed FHA:       3.125% – .51 points (3.525% APR),        3.25% – 0 points (3.55% APR)

30 year fixed VA:       3.75% – .20 points (3.79% APR),       3.875% – 0 points (3.89% APR)

Today's Interest Rates - May 27th, 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. May 27th 2014 30 year fixed rates, May 28th 2014 30 year fixed rates, May 29th 2014 30 year fixed rates, May 3oth 2014 30 year fixed rates, June 1st 2014 30 year fixed rates, June 2nd 2014 30 year fixed rates, June 3rd 2014 30 year fixed rates.

INTEREST RATES CONTINUE TO IMPROVE – 30 YEAR FIXED DOWN TO 4.125%

 

RATES HAVE GREAT WEEK – FED STATEMENT ON WEDNESDAY

RATES HAVE GREAT WEEK – FED STATEMENT ON WEDNESDAY.

April 28th, 2014

Interest rates improved or stayed the same every day last week. The Mortgage Backed Security (MBS) market closed the week trading up + 58 bps.

The primary reason for interest rate improvement is renewed concerns regarding Ukraine/Russia and a slumping stock market. The week before last, rates went up due to reports of a peace agreement between Ukraine and Russia. Last week, the exact opposite happened. It’s fair to say that continued developments in the Ukraine/Russia conflict are having a major effect on interest rate pricing and will likely continue to do so until the conflict is over.

This week, the FED will be releasing a statement on Wednesday after their meetings. It is expected that the FED will taper their bond purchasing program another 10 billion at the meeting.

Because of further tapering, I think that interest rates will trend higher after Wednesday this week unless there is a major breakthrough in peace talks between Russia and Ukraine.

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

Below are today’s interest rates – have a wonderful week!!

BEST VALUE OF THE WEEK:

30 Year Fixed at 4.375% paying 0 points

20 Year Fixed at 4.125% paying 0 points

TODAY’S INTEREST RATES:

30 year fixed:      4.25% – .67 points (4.38% APR),       4.375% – 0 points (4.42% APR)

20 year fixed:     4% – .86 points (4.17% APR),     4.19% – 0 points (4.28% APR)

15 year fixed:     3.375% – .56 points (3.485% APR),      3.5% – 0 points (3.55% APR)

10 year fixed:      3% – .81 points (3.16% APR),       3.25% – 0 points (3.28% APR)

5/1 ARM:      2.875% – .58 points (2.99% APR),       3.125% – 0 points (3.17% APR)

7/1 ARM:       3.25% – .99 points (3.45% APR),       3.5% – 0 points (3.53% APR)

30 year fixed FHA:       3.75% – .93 points (4.35% APR),      4% – 0 points (4.6% APR)

15 year fixed FHA:      3.25% – .32 points (3.61% APR),        3.375% – 0 points (3.7% APR)

30 year fixed VA:       3.75% – .67 points (3.89% APR),      4% – 0 points (4.07% APR)

Today's Interest Rates - April 28th 2014 (3)

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. April 28th 2014 30 year fixed rates, April 29th 2014 30 year fixed rates, April 30th 2014 30 year fixed rates, May 1st 2014 30 year fixed rates, May 2nd 2014 30 year fixed rates, May 3rd 2014 30 year fixed rates, May 4th 2014 30 year fixed rates.

RATES HAVE GREAT WEEK – FED STATEMENT ON WEDNESDAY.

THE FED DOES NOT TAPER , BUT RATES RISE SLIGHTLY

THE FED DOES NOT TAPER , BUT RATES RISE SLIGHTLY

November 4th, 2013

Mortgage rates ended last week slightly higher, but have improved on Monday taking some of the losses back.

On Wednesday, the FED announced that they would not taper their bond purchasing program. Most did not expect the FED to taper, so this wasn’t a huge surprise. The FED did take out some verbiage in their statement though, which caused some MBS investors to sell off. Normally we would expect rates to improve with this announcement, but that did not happen. The FED will meet again in December.

We have a big week in rate effecting news this week. The Third Quarter US GDP will be released Thursday and the October 2013 Employment report will come out Friday. The employment report will be very important for the direction of interest rates over the next month. If job creation is lower than expected, rates will improve. If job creation is above expectations, expect rates to rise.

Make it a great week!!

BEST VALUE OF THE WEEK:

30 Year Fixed at 4.25% with 0 points
5/1 ARM at 2.875% with 0 points

TODAY’S RATES:

30 year fixed:     4.125% – .74 points,     4.25% – 0 points,     4.5% – $0 costs
20 year fixed:     4% – .78 points,      4.125% – 0 points,     4.25% – $0 costs
15 year fixed:     3.25% – .76 points,     3.375% – 0 points,     3.5% – $0 costs
10 year fixed:      3% – .74 points,      3.375% – 0 points,      3.5% – $0 costs
5/1 ARM:      2.625% – .76 points,      2.875% – 0 points,      3.125% – $0 costs
7/1 ARM:      3% – .91 points,      3.25% – 0 points,     3.5% – $0 costs
30 year fixed FHA:     3.75% – $0 costs
15 year fixed FHA:      3.25% – 0 points, 3.5% – $0 costs
30 year fixed VA:      3.75% – 0 points, 4% – $0 costs
Today's Interest Rates - November 4th, 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. 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.  November 4th interest rates, November 5th interest rates, November 6th interest rates, November 7th interest rates, November 8th interest rates, November 9th interest rates, November 10th interest rates, November 11th interest rates

THE FED DOES NOT TAPER , BUT RATES RISE SLIGHTLY

INTEREST RATES HIT 4 MONTH LOWS

INTEREST RATES HIT 4 MONTH LOWS

October 21st, 2013

Interest Rates hit 4 month lows on Friday /  Fannie Mae changes coming November 16th. 

After a US debt deal in principal was announced on Wednesday – Interest rates greatly improved after slowly moving higher in the proceeding 2 weeks.   The uncertainty regarding the government closure and the debt ceiling caused markets to stagnate.  The markets rejoiced with great gains across the board when a deal was in place.

gordon-gekko

When the dust settled, interest rates hit 4 months lows and 30 year fixed rates dipped down to 4%-4.125%. 

On Tuesday, the payroll report for September will be released late due to the government shutdown.  This usually has a big effect on rate pricing.  The FED meets October 29th and will release a statement on the 30th

Since the government closure, it is now believed that the FED will hold off on tapering its bond purchasing program until possibly 2014.  The reason is that the economy will still be in flux due to the long term budgetary issues Congress must decide on during the next 4 months.

I see rates staying stable but not improving greatly from their current levels.  Still, you never know what the FED will do.  Many thought the FED would taper the bond program in September.  If you are risk averse, I would lock before October 30th because when the FED tapers , interest rates will go up quickly. 

FANNIE MAE CHANGES COMING NOVEMBER 16TH

On the weekend of November 16th, Fannie Mae will update it’s automated underwriting system.  Below are the 2 biggest changes:

1.)    Interest Only Loans will no longer be offered by Fannie Mae.

2.)    Fannie Mae will now have a maximum loan to value of 95%.  Currently it’s 97%.

You can begin a loan before November 16th, and still go off the old guidelines.

If you want an interest only loan – now is the time to get started. 

The 97% Fannie Mae purchase loan was starting to take the place of FHA loans with higher credit score borrowers.  The down payment was less than FHA, and the monthly mortgage insurance was substantially less.  Now Fannie Mae will require 5% down, or 95% max LTV/CLTV on a refinance that is not HARP eligible.

Make it a great week!!           

BEST VALUE OF THE WEEK:

30 Year Fixed at 4.25% with 0 points

TODAY’S RATES:

30 year fixed:     4.125% – .87 points,     4.25% – 0 points,     4.5% – $0 costs

20 year fixed:   4% – .78 points,     4.125% – 0 points,     4.25%  – $0 costs

15 year fixed:   3.25% – .85 points,     3.375% – 0 points,     3.5% – $0 costs

10 year fixed:   3% – .79 points,     3.375% – 0 points,     3.5% – $0 costs

5/1 ARM:   2.75% – .74 points,     3% – 0 points,     3.25% – $0 costs

7/1 ARM:    3.125% – .99 points,     3.5% – 0 points,     3.625% – $0 costs

30 year fixed FHA:     3.75% – 0 points,      3.875% – $0 costs

15 year fixed FHA:    3.25% – .43 points,     3.5% – 0 points,     3.625% – $0 costs

30 year fixed VA:     3.75% – .11 points,    3.875% – 0 points,     4% – $0 costs

Today's Interest Rates - October 21st, 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.  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.

INTEREST RATES HIT 4 MONTH LOWS

INTEREST RATES IMPROVE – BIG FED STATEMENT ON WEDNESDAY

INTEREST RATES IMPROVE  –  BIG FED STATEMENT ON WEDNESDAY

September 16th, 2013

Interest rates improved last week with the Mortgage Backed Security market closing the week trading up + 33 bps.  The MBS market came out very strong on Monday with the MBS trading up over + 60 bps in the morning.  That has since lowered to just under + 30 bps at the time of this writing.

The MBS improvement improved rates by about .125% from my last update.  5/1 ARMs had the biggest improvement – improving about .375%.  30 year fixed par rates have lowered back to 4.5% and 15 year fixed are back down to 3.5%

The Monday rate improvement came about mainly because the market feels that the next Federal Reserve Board Chairman nominee will likely be Janet Yellen, who is less likely to taper the Fed’s Bond purchasing program immediately.  Even so, any tapering will likely take place before she is ever in office.

At 12:30 PM Eastern on Wednesday, the FED will release it’s policy statement which will include if the FED will taper their bond purchasing program.

If the FED decides to taper now, rates will likely go up in a hurry.

If the FED decides it will not taper now, we will likely see some moderate rate improvement. 

bernanke

To me, the risk is not worth the reward.  I am recommending to lock in any rates before Wednesday to avoid this volatility.  If rates do improve substantially after locking, float downs are available if rates go down far enough. 

Make it a great week!!                  

BEST VALUE OF THE WEEK:

30 Year Fixed at 4.625% with 0 points

TODAY’S RATES:

30 year fixed:     4.5% – .74 points,     4.625% – 0 points,     4.75% – $0 costs

20 year fixed:   4.25% – .81 points,     4.5% – 0 points,     4.625%  – $0 costs

15 year fixed:   3.5% – .78 points,     3.75% – 0 points,     3.875% – $0 costs

10 year fixed:   3.125% – 1 point,     3.5% – 0 points,     3.75% – $0 costs

5/1 ARM:   3% – 1 point,     3.5% – 0 points,     3.875% – $0 costs

7/1 ARM:    3.625% – .95 points,     4% – 0 points,     4.25% – $0 costs

30 year fixed FHA:    4.125% – .45 points,      4.25% – $0 costs

15 year fixed FHA:    3.5% – .74 points,     3.75% – $0 costs

30 year fixed VA:     4.25% – $0 costs

Today's Interest Rates - September 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.  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.

INTEREST RATES IMPROVE  –  BIG FED STATEMENT ON WEDNESDAY

INTEREST RATES REBOUND AFTER WILD WEEK

INTEREST RATES REBOUND AFTER WILD WEEK

September 9th, 2013

Interest rates moved to three year high’s on Thursday of last week, but recovered on Friday and Monday to bring levels close to where they were the previous week.

From Monday – Thursday, the Mortgage Backed Security market trading down -149 bps.  There was positive economic news in manufacturing, servicing, auto sales and most thought Friday’s employment numbers would surpass expectations. 

Then the Friday employment report hit.  Not only did Non Farm jobs come in below expectations, but they revised July’s numbers down 63,000.  The MBS market closed Friday + 74 bps, and closed this Monday + 40 bps. 

The big thing to watch this week is the Wednesday Congressional vote on whether to attack Syria.  Next week is the all important Fed meeting.

It looks like it will likely be another volatile week with interest rate swings common throughout each day.

Make it a great week!!      

BEST VALUE OF THE WEEK:            

5/1 ARM at 3.875% with 0 points

TODAY’S INTEREST RATES:

30 year fixed:     4.625% – .36 points,     4.75% – 0 points,     4.875% – $0 costs

20 year fixed:   4.375% – .99 points,     4.625% – 0 points,     4.75%  – $0 costs

15 year fixed:   3.625% – .63 points,     3.875% – 0 points,     4% – $0 costs

10 year fixed:   3.375% – 1 point,     3.625% – 0 points,     4% – $0 costs

5/1 ARM:   3.375% – .83 points,     3.875% – 0 points,     4.25% – $0 costs

7/1 ARM:    3.75% – .96 points,     4.125% – 0 points,     4.5% – $0 costs

30 year fixed FHA:    4.25% – 0 points,      4.375% – $0 costs

15 year fixed FHA:    3.625% – .94 points,     3.75% – 0 points,     4% – $0 costs

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

Today's Interest Rates - September 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.  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.

INTEREST RATES REBOUND AFTER WILD 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 HIT MULTI YEAR HIGHS – WITH NO SIGNS OF STOPPING

INTEREST RATES HIT MULTI YEAR HIGHS – WITH NO SIGNS OF STOPPING

June 24th, 2013

Last week was the single worst week for interest rates that I can remember (I have been doing mortgages for 10 years). As expected and stated in last week’s update – the FED’s statement on Wednesday would bring about volatility in the market and it certainly did.

Ben Bernanke and the FED maintained that they would scale back the stimulus and bond purchasing plan. The mortgage backed security and stock markets plummeted. The MBS market closed the week trading down -314 bps.  When the dust had settled, 30 year fixed rates were .625% higher than they were at the end of trading on Friday.

The interest rates people have been accustomed to for the past couple years are gone and they are not coming back. I have warned about this for the past year – when the FED leaves the bond purchasing market – rates will go higher, quickly. The FED has basically kept rates lower than they should be for 2.5 years.

On the bright side – interest rates are historically still very good, but I do expect them to continue to rise.

If you can benefit from refinancing – I wouldn’t wait or spend a week shopping. Rates have been moving up so quickly that shoppers are losing a ton more in daily rate hikes than actually finding a better deal. Even if the savings are not unbelievable, this may be your last chance to lower your rate and payment for the life of your loan.

My recommendation is to lock in if you are currently floating.

Make it a great week!!

BEST VALUE OF THE WEEK:

15 Year Fixed at 3.75% with 0 points

TODAY’S RATES:

30 year fixed:      4.5% – .89 points,      4.75% – 0 points,      4.875% – $0 costs

20 year fixed:      4.25% – .32 points,      4.375% – 0 points,      4.75% – $0 costs

15 year fixed:      3.5% – .84 points,      3.75% – 0 points,       4% – $0 costs

5/1 ARM:      3.25% – .81 points

7/1 ARM:      3.375% – .97 points

10/1 ARM:       4.25% – .91 points

30 year fixed FHA:      4% – .99 points,      4.25% – 0 points,       4.5% – $0 costs

15 year fixed FHA:      3.25% – .48 points,      3.375% – 0 points,       3.5% – $0 costs

30 year fixed VA:      4.25% paying 0 points,      4.625%- $0 costs

TR - 6-24-13

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 HIT MULTI YEAR HIGHS  –  WITH NO SIGNS OF STOPPING

INTEREST RATES CONTINUE UPWARD CLIMB / ARMS STILL IN THE 2%’s

INTEREST RATES CONTINUE UPWARD CLIMB   /    ARMS STILL IN THE 2%’s

June 3rd, 2013

Last week was yet another tough week for interest rates as they continue their climb to their highest levels in over a year. The MBS market closed last week trading down – 103 bps.

Each time you see a small rally in the bond market, investors unload and the market continues it’s downward spiral. It’s not uncommon to see the bond market higher in the morning and drop over 50 bps in an hour or two. There is simply not an appetite for mortgage backed securities right now.

The trend of interest rates rising will likely continue unless some economic event worries investors enough to seek safety in mortgage backed securities and US treasuries. Expect heavy volatility to remain the norm.

On Friday, the May unemployment report will be released. Remember that April’s unemployment report and revision to March’s numbers started rates moving higher after hitting very low levels at the beginning of May.

ARM loans continue to be very attractive options as rates on ARM loans don’t move as much with the market as fixed loans do. The most popular ARM loans are fixed for 5,7, or 10 years before they adjust and the adjustments are capped. They are a good option to consider if you missed the boat on refinancing to a low fixed rate.

Make it a great week!!

BEST VALUE OF THE WEEK:

7/1 ARM at 2.75% paying 0 points

TODAY’S RATES:

30 year fixed:    4% paying .66 points,     4.125% paying 0 points,      4.25% – $0 costs

20 year fixed:     3.625% paying .77 points,      3.75% paying 0 points,      4.125% – $0 costs

15 year fixed:     3.125% paying .66 points,      3.375% paying 0 points,      3.5% – $0 costs

5/1 ARM:      2.375% paying .99 points,      2.75% paying 0 points,      3.25% – $0 costs

7/1 ARM:     2.625% paying .91 points,      2.875% paying 0 points,      3.25%- $0 costs

30 year fixed High Balance Loan:     4.125% paying .86 points,      4.375% paying 0 points,      4.5% – $0 costs

30 year fixed FHA:      3.375% paying .66 points,      3.5% paying 0 points,      3.75% – $0 costs

15 year fixed FHA:     2.875% paying .99 points,      3.25% – $0 costs

30 year fixed VA:     3.375% paying .99 points,      3.75%- $0 costs

Today's Interest Rates - June 4th, 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 CONTINUE UPWARD CLIMB   /    ARMS STILL IN THE 2%’s

INTEREST RATES GOING UP QUICKLY!!

INTEREST RATES GOING UP QUICKLY!!

May 15th, 2013

Interest rates are moving up quickly all around the world.  Rates have moved higher every day since the release of the April employment report. The mortgage backed security market closed last week trading down -94 bps and this week is trading down -59 bps.

I hinted at this in my last weekly update – I think that May will be a bad month for interest rates. Investors will not buy mortgage backed securities aggressively after getting burned on the April employment report.

The overall sentiment in the bond market is to sell. This likely won’t change without a Fed statement reaffirming continued mortgage backed security purchases, a worse than expected May employment report, or some other major event.

It’s important to keep things in perspective.  Rates are still unbelievably low – they are just a bit higher than the past few weeks. This massive move in the markets has only moved interest rates .125% to .25% higher.

The world is not coming to end, but I would definitely recommend locking in your rate as soon as possible.

Make it a great week!!

BEST VALUE OF THE WEEK:

15 Year Fixed at 2.875% paying 0 points

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: 2.625% paying .78 points, 2.875% paying 0 points, 3% – $0 costs

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

7/1 ARM: 2.5% paying .71 points, 2.75% paying 0 points, 3%- $0 costs

30 year fixed High Balance Loan: 3.75% paying .59 points; 3.875% paying 0 points, 4.25% – $0 costs

30 year fixed FHA: 3.25% – $0 costs

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

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

TR- 5-14-2013

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.