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.

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 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

INTEREST RATES HIT 4 MONTH LOWS

INTEREST RATES HIT 4 MONTH LOWS

October 21^st, 2013

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

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.

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 29^th and will release a statement on the 30^th.

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 30^th because when the FED tapers , interest rates will go up quickly.

FANNIE MAE CHANGES COMING NOVEMBER 16TH

On the weekend of November 16^th, 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 16^th, 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

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.

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

INTEREST RATES IMPROVE – BIG FED STATEMENT ON WEDNESDAY

HARP 2.0 GUIDELINES

HARP 2.0 GUIDELINES:

March 22nd, 2012

Below are my official guidelines for HARP 2.0 Lending. Not every lender has the same guidelines, so just because you don’t qualify with one does not mean you do not qualify with another.

Remember that you can not qualify for a HARP loan without your loan being backed by FANNIE MAE or FREDDIE MAC, and you must have taken the loan out before May of 2009 – no exceptions. To find out if you are backed by FANNIE MAE or FREDDIE MAC, please follow the links below the guidelines.

HARP 2.0 GUIDELINES:

FANNIE MAE DU REFI PLUS II

OCCUPANCY	MAX LTV	MAX CLTV w/2nd

PRIMARY	150%	Unlimited
SECOND	125%	125%
INVESTMENT	105%	105%

FREDDIE MAC RELIEF OPEN ACCESS II

OCCUPANCY	MAX LTV	MAX CLTV w/2nd

PRIMARY	105%	Unlimited
SECOND	105%	Unlimited
INVESTMENT	105%	Unlimited

* If loan is serviced by Flagstar – We can loan 125% LTV/CLTV on all occupancies

—

FANNIE MAE AND FREDDIE MAC LOOK UP:

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

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

HARP 2.0, Barrack Obama, Updated HARP, New HARP, New HARP guidelines, DU REFI PLUS, FANNIE MAE, FREDDIE MAC FORECLOSURE RELIEF, freddie mac open access, December 2011, Freddie Mac, No appraisal refinance, unlimited ltv, underwater, upside down, no equity, no appraisal refinance, Unlimited combined loan to value, 125% ltv, 105% ltv, 150% ltv, March 2012. Refinancing for Arizona, Colorado, and California.

HARP 2.0 GUIDELINES

HARP 2.0 – IS IT FINALLY HERE?

HARP 2.0 – IS IT FINALLY HERE?

In November 2011, President Obama announced the existence of a HARP 2.0 product that was going to help more and more underwater home owners refinance into a lower interest rate loan.

The release date was supposed to be in December 2011, but unfortunately no lenders would offer it. Finally lenders will start offering this product.. I can offer Freddie Mac Harp 2.0 loans on Monday March 12th, and Fannie Mae Harp 2.0 loans on Monday, March 19th. Here are the main details of HARP 2.0:

HARP 2.0:

1.) You must be in a FANNIE MAE or FREDDIE MAC loan taken out before May of 2009. You can check if you are here:

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

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

2.) The LTV allowable was originally announced as unlimited, but it appears lenders are afraid to offer that at this point. I don’t have all the details yet, but I think the Loan to Value limit will either be 150% or 125%, and unlimited combined loan to value when subordinating a second. HARP 2.0 is only for 1^st Mortgages.

3.) Most HARP 2.0 loans will not need an appraisal.

4.) Allows 1 30 day late in the past 12 months – as long as it is not within the most recent 6 months.

5.) Before, you had to have the same occupancy as when you took out the original loan. This has now been lifted. For example, you could not complete a HARP loan on an original primary residence that is now a rental. Now you can.

6.) Fannie Mae is removing the waiting periods for short sales and foreclosures for this product.

This program will help the underwater homeowners that have stayed in their home and maintained their payment, to lower their interest rate to the current market levels. This is a great product, and I think this is a step in the right direction for our industry.

HARP 2.0, Barrack Obama, Updated HARP, New HARP, New HARP guidelines, DU REFI PLUS, FANNIE MAE, FREDDIE MAC FORECLOSURE RELIEF, freddie mac open access, December 2011, Freddie Mac, No appraisal refinance, unlimited ltv, underwater, upside down, no equity, no appraisal refinance, 125% LTV, unlimited CLTV, HARP 2.0 for March 2012, HARP 2.0 interest rates, eligibility for HARP 2.0, Today’s Interest Rates for Harp 2.0, Refinancing for Arizona, Colorado, and California.

HARP 2.0 – Is it Finally Here?

BANKS ACCEPTING MORE SHORT SALES IN MARICOPA COUNTY, ARIZONA

BANKS ACCEPTING MORE DISTRESSED SALES IN MARICOPA COUNTY

March 2nd, 2012

When the housing bubble first burst in Arizona, most banks were taking back delinquent properties versus working with home owner’s to sell their property at a loss.

Recent statistics show that banks are more and more likely to accept a short sale or sell the home at an investor auction versus taking back a delinquent home. This is encouraging for homeowners exploring a short sale, as data suggests that there is a higher likelihood of a short sale going through.

There are many benefits to a short sale – the most important one being that most short sales include a clause where the homeowner is no longer responsible to repay the bank. When a home is foreclosed upon and taken back, the bank can come after you for a numbers years if they should choose to do so.

STATISTICS FOR DISTRESSED SALES AND TAKE BACKS IN MARICOPA COUNTY:

In 2011, There were 62,156 distressed title transfers

34,634 were short sales or investor sales / 27,522 were properties taken back.

In 2010, There were 67,208 distressed title transfers

28,490 were short sales or investor sales / 38,718 were properties taken back by the bank.

In 2009, There were 60,682 distressed title transfers

20,065 were short sales or investor sales / 40,797 were properties taken back by the bank.

As more and more banks are willing to accept short sales, delinquent homeowners should attempt to work on a short sale versus giving the property back. In most cases, a homeowner will get a check for closing a short sale and they do not have to worry about the bank coming after them in the future for losses incurred.

*data obtained from Fletcher Wilcox at Grand Canyon Title Agency.

BANKS ACCEPTING MORE SHORT SALES IN MARICOPA COUNTY, ARIZONA

30 YEAR FIXED AT 3.75% / WHAT DOES THE U.S. 25 BILLION BANK SETTLEMENT MEAN TO ME?

TODAY’S MORTGAGE RATES:

February 13th, 2012

The MBS Market closed last week trading down (- 31 bps). Mortgage rates haven’t seen much positive momentum since they hit their all time lows 2 weeks ago. Pricing has slowly risen since then, as is typical when a very low rate/pricing is reached. The lowest rate pricing usually only lasts for a couple of days. Rate shoppers and borrowers not ready to lock quickly will usually miss locking in at the best pricing.

This is another week that should be relatively calm.

Below are rates available today paying a point or less:

30 year fixed: 3.75% paying .95 points, 4% paying 0 points

20 year fixed: 3.5% paying 1 point, 3.875% paying 0 points

15 year fixed: 3% paying .89 points, 3.375% paying 0 points

5/1 ARM: 2.625% paying 1 point, 3.125% paying 0 points

7/1 ARM: 3% paying .71 points, 3.25% paying 0 points

30 year fixed High Balance Loan: 4% paying .78 points, 4.25% paying 0 points

30 year fixed FHA: 3.75% paying 0 points

15 year fixed FHA: 2.875% paying .61 points, 3.125% paying 0 points

30 year fixed VA: 3.75% paying 0 points

THE U.S. 25 BILLION BANK SETTLEMENT – WHAT DOES IT MEAN FOR ME?

Last week, The US and 5 major US banks reached a 25 billion settlement meant to help homeowners who are delinquent or pose a threat to go delinquent. The deal is the result of the major banks settling to help make right some illegal/unethical processes that took place in many loans written during the boom.

So who will this settlement help?

The reality is that the 25 billion dollar settlement will help very few homeowners. There are an estimated 11 million homeowners in the country that are upside down on their mortgage and another 6 million currently behind on their payment or facing foreclosure. The Obama administration estimates this could help 1 million homeowners. I remain skeptical, especially with the multitude of other failed bills meant to help the housing market.

Here is how it works – the Major Banks:

BANK OF AMERICA
WELLS FARGO
CITI GROUP
CHASE
ALLY FINANCIAL (FORMERLY GMAC)

Will put money aside to help delinquent or risk to go delinquent borrowers lower their payments, possibly reduce their principal, and get into payment plans to help customers become current on their delinquent mortgage.

The only borrowers eligible will be serviced by the above 5 banks. If you are not, you are not eligible. You are also not eligible if you are currently in a FANNIE MAE or FREDDIE MAC backed mortgage – the government agencies that back the majority of the mortgage in the country.

In all likelihood, the plan will not actually start for another 10-12 months. Eligible homeowners will be contacted by their servicer.

So in conclusion – you will most likely not be eligible unless:

1.) You are substantially upside down. I talk to homeowners all the time that want to take advantage of government programs but have equity in their home and also have good credit and income. If you could qualify for a refinance, you are not likely to ever qualify for these programs.

2.) You are currently late or in danger of going late – typically homeowners that are upside down.

3.) You current loan is with Bank of America, Wells Fargo, GMAC (Ally), Citigroup, or Chase.

4.) Your loan is NOT backed by Fannie Mae or Freddie Mac.

5.) This settlement will likely only apply to 1^st Mortgages – not to 1^st and 2^nd’s if you have 2 mortgages.

A small portion of American homeowners will benefit from this settlement, but the vast majority will have to go by existing refinance guidelines to change their current loan.

Today’s Mortgage Interest Rates. Current Mortgage Interest Rates and APRs for refinancing and purchasing in Arizona, California, and Colorado. 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, Freddie Mac Foreclosure Relief Mortgage, VA mortgages, VA Interest Rate Reduction Loans, FHA mortgages, FHA streamline mortgages, Conforming mortgages, Conventional Mortgages, High Balance Mortgages, Fannie Mae mortgages, Freddie Mac Mortgages, and Jumbo Mortgages.

30 Year Fixed at 3.75% / What does the U.S. 25 billion bank settlement mean to me?

LOWEST MORTGAGE RATES EVER!! – OBAMA’S MASS REFINANCING PROGRAM

LOWEST MORTGAGE RATES EVER!!

January 9th, 2012

The MBS Market closed last week trading up (+ 25bps). This was another great week for interest rates that saw fixed rates reach their LOWEST LEVELS EVER!! In the history of the mortgage industry, borrowers have never been able to get better mortgage pricing than they can now. It’s a pretty good time to be doing a mortgage.

Rates might have dropped even lower if Congress did not pass HR3630.

I mentioned HR3630 in previous updates. Congress is charging increased fees to homeowners to extend the employment taxes. This comes in the form of Fannie Mae increasing guaranteed pricing to lenders which have to pass that on to borrowers. This change goes into effect on loans delivered to Fannie Mae after February 10^th. Since most lenders lock on 30 day locks – this change will go into effect with almost every lender by the end of the week.

This means that mortgage rate pricing should go up approximately .3 pts on every rate or .125% higher on the rate for the same costs.

This can be offset if the MBS market continues to trade higher, but the market has trended up for almost 2 months – it will turn eventually.

Below are rates available today paying a point or less:

30 year fixed: 3.75% paying .99 points, 4% paying 0 points

20 year fixed: 3.75% paying .1 points, 3.875% paying 0 points

15 year fixed: 3.125% paying .85 points, 3.25% paying 0 points

5/1 ARM: 2.5% paying .92 points, 2.875% paying 0 points

7/1 ARM: 2.875% paying .95 points, 3.25% paying 0 points

30 year fixed High Balance Loan: 4% paying 1 point, 4.375% paying 0 points

30 year fixed FHA: 3.75% paying 0 points

15 year fixed FHA: 3.25% paying .0 points

30 year fixed VA: 3.75% paying 0 points

OBAMA’S MASS REFINANCING PROGRAM

There is a lot of chatter that a Mass Refinance Program could be released by President Obama before the elections.

The chatter centers around the possibility of President Obama replacing the current FHFA director with one of his own. This would allow the President to implement his own guidelines for FANNIE MAE, FREDDIE MAC, FHA and VA.

The plan is said to allow borrowers to refinance their current loans to today’s low rates without:

AN APPRAISAL OR LTV REQUIREMENTS

CREDIT REQUIREMENTS OUTSIDE OF MORTGAGE HISTORY

INCOME REQUIREMENTS

ASSET REQUIREMENTS

The main requirement would be that the borrower has to be current on their existing mortgage for the past 3 months. This is only for rate and term refinancing – no cash out. This is also only for first mortgages – not combining a 1^st and 2^nd.

So this basically takes out the main things blocking a lot of people from refinancing. If this plan is implemented, we could see mass refinancing across the nation. Now keep in mind this plan is meant for people that CAN NOT refinance with the current guidelines. For example, if you have a lot of equity, good credit, and qualifying income – this plan is not going to offer you anything that is not currently on the market.

This plan is meant to help people that are upside down, low equity, bad credit, can’t prove their income, etc.

Watch for more updates on if this plan comes to fruition. This should be very interesting to say the least.

Today’s Mortgage Interest Rates. Current Mortgage Rates and APRs for refinancing and purchasing in Arizona, California, and Colorado. Mortgage Rates Sheets for fixed mortgages, ARM mortgages, Variable Mortgages, Interest Only Mortgages, HARP mortgages, HARP 2.0 mortgages, DU Refi Plus Mortgages, Freddie Mac Open Access Mortgages, Freddie Mac Foreclosure Relief Mortgage, VA mortgages, VA Interest Rate Reduction Loans, FHA mortgages, FHA streamline mortgages, Conforming mortgages, Conventional Mortgages, High Balance Mortgages, Fannie Mae mortgages, Freddie Mac Mortgages, and Jumbo Mortgages.

Lowest Mortgage Rates Ever – Obama’s Mass Refinancing Program

MORTGAGE PRICING IMPROVES ; HARP 2.0 UPDATE

MORTGAGE RATES IMPROVE:

December 5th, 2011

Fixed Mortgage rates improved slightly last week with the bond market closing + 53 bps. ARM pricing has started to creep a bit higher lately. ARM loans are less tied to the bond market than fixed loans are.

There is not too much data coming into the markets this week. The leaders in Europe are meeting on Friday to continue debt talks, but I don’t expect too much to come of that.

I still feel that the long term outlook is that mortgage rates will start to rise slowly in the coming weeks and months.

Below are rates available today paying a point or less:

30 year fixed: 3.875% paying .653 point, 4.125% paying 0 points

20 year fixed: 3.75% paying .935 points, 4% paying 0 points

15 year fixed: 3.25% paying .725 points, 3.5% paying 0 points

5/1 ARM: 2.5% paying .97 points; 2.875% paying 0 points

7/1 ARM: 2.875% paying .883 points, 3.25% paying 0 points

30 year fixed High Balance Loan: 4.25% paying .817 points, 4.5% paying 0 points

30 year fixed FHA: 3.75% paying .605 points, 3.99% paying 0 points

15 year fixed FHA: 3.25% paying .867 points, 3.5% paying 0 points

30 year fixed VA: 3.75% paying 0 points

HARP 2.0 UPDATE

When dealing with a new agency product, typically the big lenders announce when they are coming out and everybody falls in line. The only lender I know of that has publicized HARP 2.0 updates is Wells Fargo. They are releasing their HARP 2.0 rate sheets next week but are not offering the product for underwriting.

Many direct lenders have lines of credit from bigger banks to fund their loans. Wells Fargo is an investor in my company as well as many, many other lenders. Thus we will get it at the same time.

It is now starting to appear that the HARP 2.0 product may not make it to the market for some time. As always, I will keep you updated on any new developments.

Today’s Mortgage Interest Rates. Current Mortgage Rates and APRs for refinancing and purchasing in Arizona, California, and Colorado. Mortgage Rates Sheets for fixed mortgages, ARM mortgages, Variable Mortgages, Interest Only Mortgages, HARP mortgages, DU Refi Plus Mortgages, Freddie Mac Open Access Mortgages, Freddie Mac Foreclosure Relief Mortgage, VA mortgages, VA Interest Rate Reduction Loans, FHA mortgages, FHA streamline mortgages, Conforming mortgages, Conventional Mortgages, High Balance Mortgages, Fannie Mae mortgages, Freddie Mac Mortgages, and Jumbo Mortgages.

MORTGAGE PRICING IMPROVES ; HARP 2.0 UPDATE

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

NEW GOVERNMENT REFINANCE PROGRAM:

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

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

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

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

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

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

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

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

Category: underwater home

INTEREST RATES DROP TO 1 MONTH LOWS

Like this:

INTEREST RATES HIT 4 MONTH LOWS

Like this:

INTEREST RATES IMPROVE – BIG FED STATEMENT ON WEDNESDAY

Like this:

HARP 2.0 GUIDELINES

Like this:

HARP 2.0 – IS IT FINALLY HERE?

Like this:

BANKS ACCEPTING MORE SHORT SALES IN MARICOPA COUNTY, ARIZONA

Like this:

30 YEAR FIXED AT 3.75% / WHAT DOES THE U.S. 25 BILLION BANK SETTLEMENT MEAN TO ME?

Like this:

LOWEST MORTGAGE RATES EVER!! – OBAMA’S MASS REFINANCING PROGRAM

Like this:

MORTGAGE PRICING IMPROVES ; HARP 2.0 UPDATE

Like this:

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

Like this:

Share this:

Like this:

Share this:

Like this:

Share this:

Like this:

Share this:

Like this:

Share this:

Like this:

Share this:

Like this:

Share this:

Like this:

Share this:

Like this:

Share this:

Like this:

Share this:

Like this: