Interest Rates Improve Last Week , Lose Gains on Monday

Interest Rates Improve Last Week , Lose Gains on Monday

June 2015

Interest rates improved to 3 week lows on Friday with the Mortgage Backed Security (MBS) market closing up + 68 bps on the week. Unfortunately all those gains were erased on Monday with the MBS market closing down – 59 bps on Monday and trading lower on Tuesday as well.

This is the theme of this volatile market – if you like a rate don’t wait to lock it. The pricing can change by thousands of dollars in one day.

Interest rates were improving due to investors fear of Greek debt default. Over the weekend, progress towards a new deal for Greece to pay back debt caused the MBS market to spike on Monday. May’s existing home sales also beat expectations up 5.1% versus an expected 4%. If a Greek deal gets done – rates will continue to rise. I would highly recommend locking in this market.

30 year fixed rates are now available at 4.125% paying .14 points (4.15% APR), and 4.25% paying 0 points (4.27% APR). 15 year fixed rates are now available at 3.25% paying .61 points (3.37% APR), and 3.375% paying 0 points (3.4% APR). **Priced with 740+ credit score, rate and term refinance at 75% LTV**

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

WWW.FREEMORTGAGEQUOTE.BIZ

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

TODAY’S INTEREST RATES:

30 year fixed:      4.125% – .146 points (4.15% APR),       4.25% – 0 points (4.27% APR)

20 year fixed:       3.875% – .71 points (4.01% APR),       4.125% – 0 points (4.127% APR)

15 year fixed:       3.25% – .61 points (3.37% APR),        3.375% – 0 points (3.4% APR)

10 year fixed:        3.0% – .97 points (3.19% APR),        3.25% – 0 points (3.29% APR)

5/1 ARM:        3.125% – .67 points (3.25% APR),        3.375% – 0 points (3.4% APR)

7/1 ARM:        3.375% – .66 points (3.50% APR),          3.625% – 0 points (3.67% APR)

30 year fixed FHA:        3.625% – 1 point (4.52% APR),         3.75% – 0 points (4.45% APR)

15 year fixed FHA:        3.0% – .92 points (3.48% APR),         3.25% – 0 points (3.55% APR)

30 year fixed VA:         3.75% – .13 points (3.77% APR),         3.875% – 0 points (3.9% APR)

Today's Interest Rates - June 23rd, 2015

Today’s Mortgage Interest Rates. Current Mortgage Interest Rates and APRs for refinancing and purchasing in Arizona, California, Colorado, Washington, and Virginia. Arizona Home Loans, California Home Loans, Colorado Home Loans, Washington Home loans, Virginia Home Loans. Arizona refinance, California refinance, Colorado refinance. Scottsdale, Arizona Mortgage Banker in McCormick Ranch. McCormick Ranch Loan Officer. Mortgage Rate Sheets for fixed mortgages, ARM mortgages, Variable Mortgages, Interest Only Mortgages, HARP mortgages, HARP 2.0 mortgages, HARP 3.0 mortgages, DU Refi Plus Mortgages, Freddie Mac Open Access Mortgages, Fannie Mae Home Path Mortgage, Freddie Mac Foreclosure Relief Mortgage, VA mortgages, VA Interest Rate Reduction Loans, FHA mortgages, FHA streamline refinance mortgages, Conforming mortgages, Conventional Mortgages, 100% Financing Mortgage, High Balance Mortgages, Fannie Mae mortgages, Freddie Mac Mortgages, No appraisal refinance, 0 point mortgages, 0 closing cost mortgages, paying a point mortgages, Refinance mortgages, purchase mortgages, and Jumbo Mortgages. June 23rd 2015 30 year fixed rates, June 24th 2015 30 year fixed rates, June 25th 2015 30 year fixed rates, June 26th 2015 30 year fixed rates, June 27th 2015 30 year fixed rates, June 28th 2015 30 year fixed rates, June 29th 2015 30 year fixed rates.

Interest Rates Improve Last Week , Lose Gains on Monday

FHA RAISING MORTGAGE INSURANCE PREMIUMS IN 2013 – THEY WILL NOW LAST FOR THE LIFE OF THE LOAN.

FHA MORTGAGE INSURANCE CHANGES COMING IN 2013

FHA has announced that they are increasing mortgage insurance premiums yet again. This is the continuation of a trend for FHA – FHA has raised mortgage insurance premiums for 3 years straight. Here are the changes coming:

– 10 bps increase on monthly mortgage insurance premiums. This will raise mortgage payments by $8.33 per month per $100,000 in loan amount.

– Monthly Mortgage Insurance will now be carried for the life of the loan. Currently, you can remove mortgage insurance premiums after 5 years and once you pay the loan down to 78% Loan to Value of the original appraisal.

These are big changes, especially the Monthly mortgage insurance for life. If you are looking to streamline your existing FHA loan or purchase a new home with a FHA loan, now is the time to do it before the mortgage insurance premiums go up and last for the life of the loan.

FHA RAISING MORTGAGE INSURANCE PREMIUMS IN 2013  –  THEY WILL NOW LAST FOR THE LIFE OF THE LOAN.