The Federal Reserve Board

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

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RATES MOVE SLIGHTLY HIGHER / 30 YEAR FIXED STILL AT 4.125%

RATES MOVE SLIGHTLY HIGHER   /    30 YEAR FIXED STILL AT 4.125%

June 16th, 2014

Interest rates moved higher over the past 2 weeks with the MBS market closing -55 bps the week before last, and -13 bps last week.
The rate market has gained some ground over the past 4 days though, pulling 30 year fixed rates back into 4.125% territory after being at 4.25% for the majority of the past 2 weeks.

Interest rates are still benefiting from the continued concern of military action across the globe – especially with Iraq heating up.

This week the FED meets with a statement on Wednesday. The market expects the FED to lower their bond purchasing by another 10 billion. This is par for the course due to their last few meetings and is priced into the market already. The FED will also release their quarterly forecast for inflation and GDP.

Overall, interest rates are staying relatively stable and I don’t see any major changes to interest rate pricing this week.

For a free email mortgage quote, please go to http://www.freemortgagequote.biz.

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

BEST VALUE OF THE WEEK:

20 Year Fixed at 4.125% paying 0 points

5/1 ARM at 3.25% paying 0 points

TODAY’S INTEREST RATES:

30 year fixed:      4.125% – 1 point (4.325% APR),      4.375% – 0 points (4.39% APR)

20 year fixed:      4% – .7 points (4.14% APR),       4.125% – 0 points (4.16% APR)

15 year fixed:      3.375% – .52 points (3.48% APR),       3.5% – 0 points (3.55% APR)

10 year fixed:       3% – 1 point (3.2% APR),       3.375% – 0 points (3.4% APR)

5/1 ARM:       2.875% – .93 points (3.06% APR),        3.25% – 0 points (3.3% APR)

7/1 ARM:       3.25% – .96 points (3.45% APR),       3.625% – 0 points (3.67% APR)

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

15 year fixed FHA:       3.125% – 1 point (3.625% APR),       3.25% – 0 points (3.58% APR)

30 year fixed VA:             3.75% – .25 points (3.81% APR), 3.875% – 0 points (3.92% APR)

Today's Interest Rates - June 16th, 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. June 16th 2014 30 year fixed rates, June 17th 2014 30 year fixed rates, June 18th 2014 30 year fixed rates, June 19th 2014 30 year fixed rates, June 20th 2014 30 year fixed rates, June 21st 2014 30 year fixed rates, June 22nd 30 year fixed rates.

RATES MOVE SLIGHTLY HIGHER   /    30 YEAR FIXED STILL AT 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 http://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.

INTEREST RATE PRICING STAYS IN NARROW RANGE

INTEREST RATE PRICING STAYS IN NARROW RANGE

February 10th, 2014

Interest rate pricing was all over the place last week.  On Monday, interest rates hit their lowest levels in about 3 months.  Interest rates went higher the rest of the week until the January employment report was released on Friday.  For the third month straight, job creation was lower than forecasts.  This would normally cause a big movement for better interest rates but the improvement wasn’t as much as expected.

Overall on the week, the Mortgage Backed Security market traded lower – 6 bps.  When the dust settled, interest rate pricing remained in a narrow range and mortgage interest rates are basically where they were at the beginning of last Monday.

In 2014, interest rates have fallen at some of the fastest levels in the past 2 years.  The main reason is usually interest rate pricing fluctuates more going up and down, but interest rates have improved for 5 week straight weeks before last week. 

There is some concern that the lower trend has come to an end with the market not moving as much as expected with a poor employment report.  It’s tough to call right now, but I see interest rates remaining fairly stable for the time being.  There is still a limit to how much interest rates can really improve with the FED tapering.  The interest rates in the low 3%’s won’t be back, but you could see interest rates going a little bit lower than today’s levels.   

This week Janet Yellen will make her first testimony to Congress.  Not much new information is expected to be deemed from this testimony, but it will be her first time before Congress as the new FED Cheif.

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 RATES:

30 year fixed:     4.25% – .8 points,     4.5% – 0 points,     4.625% – $0 costs

20 year fixed:   4% – 1 point,     4.25% – 0 points,     4.375%  – $0 costs

15 year fixed:   3.375% – .38 points,     3.5% – 0 points,     3.625% – $0 costs

10 year fixed:   3% – .66 points,     3.25% – 0 points,     3.5% – $0 costs

5/1 ARM:   2.75% – 1 point,     3.125% – 0 points,     3.5% – $0 costs

7/1 ARM:    3.125% – .88 points,     3.375% – 0 points,     3.625% – $0 costs

30 year fixed FHA:     3.75% – .6 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:     3.75% – .42 points,    3.875% – 0 points,      4.125% – $0 costs

Today's Interest Rates - February 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.  February 10th 2014 30 year fixed rates, February 11th 2014 30 year fixed rates, February 12th 2014 30 year fixed rates, February 13th 2014 30 year fixed rates, February 14th 2014 30 year fixed rates, February 15th 2014 30 year fixed rates, February 16th 2014 30 year fixed rates, February 17th 2014 30 year fixed rates.

INTEREST RATE PRICING STAYS IN NARROW RANGE

INTEREST RATES DROP TO 1 MONTH LOWS

INTEREST RATES DROP TO 1 MONTH LOWS

January 13th, 2014

Interest rates finally gained some momentum after weeks of movement higher.

On Friday, the December employment report was released. Analysts predicted Non Farm Payroll Jobs to increase by 196,000 and the unemployment percentage to remain at 7%. The analysts vastly overestimated the increase, causing a huge movement in the bond markets and pushing rates lower by approximately .125%.

Non Farm Payroll jobs only increased by 74,000. Although the unemployment percentage dropped to 6.7%, much of that was due to people leaving the work force. Only 62.8% of the population is employed, which is the lowest level since 1976.

man-on-street1

This is welcome news for rate watchers after interest rates have steadily climbed for weeks straight. With the FED tapering, the long term outlook is still for interest rates to climb higher. Now is a good time to consider locking in while price is improved.

Have a great week!!

BEST VALUE OF THE WEEK:

30 Year Fixed at 4.5% with 0 points

15 Year Fixed at 3.625% with 0 points

TODAY’S RATES:

30 year fixed:     4.375% – .97 points,      4.5% – 0 points,      4.625% – $0 costs

20 year fixed:      4.125% – .39 points,      4.25% – 0 points,      4.375% – $0 costs

15 year fixed:     3.375% – .99 points,      3.625% – 0 points,      3.75% – $0 costs

10 year fixed:      3.125% – .58 point,      3.375% – 0 points,      3.5% – $0 costs

5/1 ARM:      2.875% – .94 points,      3.125% – 0 points,      3.5% – $0 costs

7/1 ARM:     3.25% – .99 points,      3.625% – 0 points,      3.875% – $0 costs

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

15 year fixed FHA:      3.25% – .49 points,      3.5% – 0 points       3.625% – $0 costs

30 year fixed VA:      3.75% – .84 points,      4% – 0 points,      4.25% – $0 costs

Today's Interest Rates - January 13th, 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. Scottsdale Loan Officer. Scottsdale mortgage, McCormick Ranch mortgage, 30 Year Fixed Mortgage rates, 20 year fixed Mortgage rates, 15 year fixed mortgage rates, 10 year fixed mortgage rates, 5/1 ARM mortgage rates, 7/1 ARM mortgage rates, 10/1 ARM mortgage rates, ARM mortgage rates, Variable Mortgage rates, Interest Only Mortgage rates, HARP mortgage rates, HARP 2.0 mortgage rates, HARP 3.0 mortgage rates, DU Refi Plus Mortgage rates, Freddie Mac Open Access Mortgage rates, Fannie Mae Home Path Mortgage rates, Freddie Mac Foreclosure Relief Mortgage rates, 30 Year Fixed VA rates, 15 year fixed VA rates,VA mortgages rates, VA Interest Rate Reduction Loan rates, VA IRRL rates, FHA mortgage rates, 30 Year Fixed FHA rates, 15 year fixed FHA rates, FHA streamline refinance mortgage rates, Conforming mortgage rates, Conventional Mortgage rates, 100% Financing Mortgage, High Balance Mortgage rates, Fannie Mae mortgage rates, Freddie Mac Mortgage rates, No appraisal refinance, 0 point mortgages, 0 closing cost mortgages, paying a point mortgages, $0 closing costs home loan, Refinance mortgages, purchase mortgages, and Jumbo Mortgages.  January 13th 30 year fixed rates, January 14th 30 year fixed rates, January 15th 30 year fixed rates, January 16th 30 year fixed rates, January 17th 30 year fixed rates, January 18th 30 year fixed rates, January 19th 30 year fixed rates, January 20th 30 year fixed rates

INTEREST RATES DROP TO 1 MONTH LOWS

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

RATES CONTINUE TO DROP WITH POOR EMPLOYMENT REPORT

RATES CONTINUE TO DROP WITH POOR EMPLOYMENT REPORT

October 28th, 2013

Interest Rates improved for the 2nd straight week last week.  The main source of improvement was from the September employment report released Tuesday.  The gain in jobs fell well short of forecasts, pushing investor money into mortgage backed securities. 

Rates are still at the lowest levels since early May when rates went up very quickly due to comments from Ben Bernanke about tapering the bond purchasing program.  The FED is meeting again this week with a statement on Wednesday.  Most do not expect the FED to taper in the meeting, but if they do – watch out – rates will go up quickly.

FOMC-Meeting

Make it a great week!!           

BEST VALUE OF THE WEEK:

15 Year Fixed at 3.375% with 0 points

5/1 ARM at 2.625% paying 1 point

TODAY’S RATES:

30 year fixed:     4.125% – .37 points,     4.25% – 0 points,     4.375% – $0 costs

20 year fixed:   4% – .5 points,     4.125% – 0 points,     4.25%  – $0 costs

15 year fixed:   3.125% – 1 point,     3.375% – 0 points,     3.5% – $0 costs

10 year fixed:   2.875% – 1 point,     3.125% – 0 points,     3.5% – $0 costs

5/1 ARM:   2.625% – 1point,     3% – 0 points,     3.25% – $0 costs

7/1 ARM:    3.125% – .6 points,     3.375% – 0 points,     3.65% – $0 costs

30 year fixed FHA:     3.75% – $0 costs

15 year fixed FHA:    3.25% – .11 points,     3.375% – 0 points,     3.5% – $0 costs

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

Today's Interest Rates - October 28th, 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.

RATES CONTINUE TO DROP WITH POOR EMPLOYMENT REPORT

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

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