Tag: banker

INTEREST RATES IMPROVE – UNCERTAINTY LOOMS WITH HURRICANE SANDY, THE ELECTION AND THE FISCAL CLIFF

INTEREST RATES IMPROVE – UNCERTAINTY LOOMS WITH HURRICANE SANDY, THE ELECTION AND THE FISCAL CLIFF:

October 31st, 2012

Happy Halloween!!

Interest rates improved slightly last week with the MBS market closing up (+ 9 bps).  Mortgage rate pricing was higher for most of the week – but a rally on Friday ended the week with the MBS market in positive territory. 

Markets have been closed the majority of this week due to Hurricane Sandy.  So far this week, the MBS market is trading up (+16 bps). 

MORTGAGE RATE OUTLOOK:

Above is a mortgage rate graph taken from bankrate.com which surveys the average mortgage rates funded every week.  Current rates are quite a bit lower than they were in August – but not as low as the end of September / early October.

Most experts agree that the lowest mortgage rates are past us.  I expect rates to stay in their current range through the end of the year – with some swings up and down in the process.

Even though I don’t expect rates to change much through 2012, there are a lot of events coming up that could cause movement.

CONFLICTING ECONOMIC DATA:

Rates typically go up when the economy improves.  Right now we are seeing a lot of conflicting economic data.

We have stronger retail sales reports, increasing construction and more applications for building permits.  But we are also seeing many large corporations reporting lower than expected earnings numbers. 

Hurricane Sandy will also likely slow economic growth in many parts of the country, which could cause investors to pull money from the stock market and into the bond market.

THE ELECTION:

Many consumers think that the Presidential election has a huge effect on the mortgage rate market.  I don’t really think it does nor will this time.

Regardless of who wins – the US economy doesn’t change overnight.  The bigger impact will be when Barrack Obama or Mitt Romney enact new economic policies that affect business profitability and growth.

THE FISCAL CLIFF:

I think this issue is probably the one event that can change interest rates the most. 

The US Treasury is set to hit their debt ceiling near the end of 2012 – and a deal needs to be completed for the US Treasury to be able to borrow money to meet their obligations.

If a deal is not completed – the government may have to stop providing Medicare benefits, Social Security benefits, military salaries, tax refunds, etc.

I think this is too much of a political issue for some type of deal to not get done, but the details of the deal and how it affects future government borrowing could have a big effect on the economic market. 

LOCK RECOMMENDATION:

I still recommend locking mortgage pricing.  There is more risk in rates going up than the benefit of them going down.

Rates are still very close to all time lows and experts don’t think that rates will hit that level again.  So there is not much room for rates to go down, and much more room for them to go up.

If a rate is beneficial, lock it.    

MY BEST VALUE OF THE WEEK:

30 Year Fixed at 3.625% with $0 costs

30 Year Fixed High Balance Loan at 3.625% with $0 costs

TODAY’S RATES:

30 year fixed:   3.25% paying .99 points,     3.5% paying 0 points,     3.625% – $0 costs

20 year fixed:   3.25% paying .66 points,     3.375% paying 0 points,     3.625%  – $0 costs

15 year fixed:    2.625% paying .82 points,     2.875% paying 0 points,     3.125% – $0 costs

5/1 ARM:   2.25% paying .9 points,     2.625% paying 0 points

7/1 ARM:   2.5% paying .54 points,     2.75% paying 0 points,     3.25%- $0 costs

30 year fixed High Balance Loan:   3.5% paying .16 points;     3.625% – $0 costs

30 year fixed FHA:   3.25% – $0 costs

15 year fixed FHA:   2.75% – $0 costs

30 year fixed VA:  3.25% – $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.  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 IMPROVE – UNCERTAINTY LOOMS WITH HURRICANE SANDY, THE ELECTION AND THE FISCAL CLIFF:

INTEREST RATES RISE – WHERE WILL MORTGAGE RATES GO FROM HERE?

INTEREST RATES RISE – WHERE WILL MORTGAGE RATES GO FROM HERE?

October 22nd, 2012

Last week was a pretty tough week for interest rates. Mortgage pricing went up Monday through Thursday, but a rally on Friday pulled interest rates back down a bit.

The Mortgage Backed Security market closed last week trading (-64 bps). On Monday, the market is currently trading down (– 8 bps).

WHERE WILL MORTGAGE RATES GO FROM HERE?

Most agree that rates will not rise substantially with the weakening MBS market. Even though rates have trended up for the majority of two weeks, rates are still very low.

Mortgage rates will likely stay in the range they are now. I don’t think rates will go lower than the rate pricing we saw a couple of weeks ago, but I also don’t see them going substantially up from where they are now.

Confidence in the economy is growing which will typically cause a rise in rates. But the FED introducing QE3 will help them remain low for the rest of 2012.

THIS WEEK:

This week starts with the Presidential Debate on Monday. The Treasury will begin a 99 billion note auction on Tuesday. The Federal Open Market Committee is meeting on Tuesday with a press release on Wednesday. September results from new homes sales are released on Wednesday.

Barring any unforeseen events – I am hoping that rates will improve a little bit this week, but I don’t see anything too drastic happening one way or the other.

My lock recommendation is to lock on any rate improvement this week. 

My Best Value of the week:

15 Year Fixed at 2.99% paying $0 costs

 

Below are rates available today paying a point or less:

30 year fixed: 3.375% paying .70 points,     3.5% paying 0 points,     3.625% – $0 costs
20 year fixed: 3.25% paying .88 points,     3.5% paying 0 points,     3.625% – $0 costs
15 year fixed: 2.625% paying .82 points,     2.875% paying 0 points,      2.99% – $0 costs
5/1 ARM: 2.25% paying .85 points,     2.625% paying 0 points
7/1 ARM: 2.5% paying .59 points,     2.75% paying 0 points
30 year fixed High Balance Loan: 3.5% paying .43 points;     3.625% paying 0 points,     3.75% – $0 costs
30 year fixed FHA: 3.25% – $0 costs
15 year fixed FHA: 2.75% – $0 costs
30 year fixed VA: 3.25% – $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. 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 RISE   –    WHERE WILL MORTGAGE RATES GO FROM HERE?

MORTGAGE RATES SURPASS ALL TIME LOWS WITH THE FED’S 40 BILLION BOND PURCHASE ANNOUNCEMENT

MORTGAGE RATES SURPASS ALL TIME LOWS WITH THE FED’S 40 BILLION BOND PURCHASE ANNOUNCEMENT:

September 17th, 2012

The MBS market closed last week trading up (+ 28 bps).

The big news happened on Thursday when the FED announced they would purchase 40 Billion in Mortgage Backed Securities per month until the economy improves.  This sent the MBS market way up, and mortgage pricing to all time low levels.   The MBS market ended up closing + 134 bps on Thursday alone.  On Friday and Monday, the Mbs market gave some gains back, closing – 62 bps on Friday, and – 3 bps on Monday.

The elephant in the room is still the Fannie Mae and Freddie Mac guaranteed fee increase.  These will be hitting all rate sheets very soon.  As a direct lender, my bank has 8 big banks that provide us credit lines in which to fund loans.  All but 2 have increased pricing due to the Fannie Mae pricing announcement.  The others could happen at any time.  That is why I am recommending locking loans as soon as possible to take advantage of where current pricing is before the pricing goes up on all rate sheets. 

The risk of waiting is not worth the reward at this point as the market will have to improve by .5 to .625% in costs just to take back the losses as a result of the Guaranteed Fee increase when it goes into effect.

Below are rates available today paying a point or less:

30 year fixed:  3.375% paying .43 point, 3.5% paying 0 points

20 year fixed:  3.25% paying .59 points, 3.375% paying 0 points

15 year fixed:  2.75% paying .65 points, 2.875% paying 0 points

5/1 ARM:  2.25% paying .43 points, 2.5% paying 0 points

7/1 ARM:  2.25% paying .87 points, 2.625% paying 0 points

30 year fixed High Balance Loan:  3.5% paying .36 points, 3.625% paying 0 points

30 year fixed FHA:  3.25% paying 0 points

15 year fixed FHA:  2.75% paying 0 points

30 year fixed VA:  3.25% paying 0 points

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.

MORTGAGE RATES SURPASS ALL TIME LOWS WITH THE FED’S 40 BILLION BOND PURCHASE ANNOUNCEMENT

30 YEAR FIXED AT 3.5% WITH 0 POINTS / FANNIE MAE AND FREDDIE MAC TO RAISE RATES

30 YEAR FIXED AT 3.5% WITH 0 POINTS – FANNIE MAE AND FREDDIE MAC TO RAISE RATES

September 10th, 2012

The MBS market closed last week trading down (-12 bps).

The market was very volatile last week. On Thursday, mortgage rates spiked up due to the stock market posting great gains and hitting a 4 year high. On Friday, the August unemployment report was released and the amount of jobs created was lower than projected by the experts. The unemployment rate went down from 8.3% to 8.1%, but this was mainly due to people exiting the work force and not continuing to look for a job. This caused mortgage rates to finish the week on a high note, closing + 50 bps.

Expect more volatility this week highlighted in The Federal Open Market Committee (FOMC) news conference on Thursday. If the FED does not “ease”, I expect rates to go up as the market already built in pricing improvements based on Ben Bernanke’s hint last week that the FED can and will do more.

FANNIE MAE AND FREDDIE MAC RAISING GUARANTEED FEES – MEANING HIGHER RATE PRICING FOR CONSUMERS:

The FHFA announced on Friday that Fannie Mae and Freddie Mac will increase guaranteed fees by .1 basis points most likely by December 1st, which will equate to an approximate .5 point increase on pricing for all Fannie Mae and Freddie Mac backed loans moving forward.
Almost all of the loans you hear advertised are Fannie Mae and Freddie Mac conforming loans.

EXAMPLE: If you are being offered a 3.5% 30 year fixed at 0 points. That same loan after the pricing change will cost approximately .5 points. This is a huge swing and I think signals the end of the debate on whether rates will drop lower.

Since this starts in December, lenders will likely adopt the new pricing some time in October – giving lenders enough time to close loans originated under old pricing.

If you are considering refinancing, I would recommend locking sometime before October as rates will go up.

Below are rates available today paying a point or less:

30 year fixed: 3.375% paying .77 point, 3.5% paying 0 points
20 year fixed: 3.25% paying .5 points, 3.375% paying 0 points
15 year fixed: 2.75% paying .73 points, 2.875% paying 0 points
5/1 ARM: 2.125% paying .9 points, 2.375% paying 0 points
7/1 ARM: 2.25% paying .762 points, 2.625% paying 0 points
30 year fixed High Balance Loan: 3.5% paying .89 points, 3.75% paying 0 points
30 year fixed FHA: 3.25% paying 0 points
15 year fixed FHA: 2.75% paying 0 points
30 year fixed VA: 3.25% paying 0 points

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.

30 YEAR FIXED AT 3.5% WITH 0 POINTS  /  FANNIE MAE AND FREDDIE MAC TO RAISE RATES

 

MORTGAGE RATES REBOUND – 30 YEAR FIXED BACK TO 3.5%

MORTGAGE RATES REBOUND – 30 YEAR FIXED BACK TO 3.5%

August 27th, 2012

The MBS market closed last week trading up (+ 81 bps) and on Monday the MBS market closed trading up ( + 19 bps).    

So over the past week and 1 day, the MBS market is trading up +100 bps and rates have improved dramatically after going higher in hurry the week before last.

We still stand in a market where rates will likely stay low, but if they do go up, they can go up quickly.  All eyes this week are on Ben Bernanke’s speech at the Jackson Hole economic conference on Friday.   Experts are about 50/50 on whether the FED will ease and buy more mortgage backed securities in the future.  This speculation and Europe’s debt situation has dominated mortgage markets for most of this year. 

The Fed will move to ease if it thinks the economy needs it.  I don’t see it happening as the past 2 Fed purchase programs have kept rates low, but they haven’t improved the economic numbers and have bloated the FED’s balance sheet.  Either way, expect rate movement in one direction or the other depending on what Bernanke hints towards in his speech.

College football is here, and my family and I are super excited.  Growing up in Michigan, I have always been a huge Michigan Wolverine Fan.  On a trip to Michigan this week, I was able to visit the Big House and catch a glimpse of Denard Robinson outside Schembechler Hall.  Very cool – here is my son and hopefully future Wolverine, at the gates of the big house. 

My best value of the week:

15 Year Fixed at 2.99% with 0 points

Below are rates available today paying a point or less:

30 year fixed:  3.5% paying .411 points, 3.625% paying 0 points

20 year fixed:  3.25% paying .937 points, 3.5% paying 0 points

15 year fixed:  2.75% paying .938 points, 2.99% paying 0 points

5/1 ARM:  2.125% paying .99 points, 2.5% paying 0 points

7/1 ARM:  2.375% paying .795 points, 2.625% paying 0 points

30 year fixed High Balance Loan:  3.625% paying .603 points, 3.875% paying 0 points

30 year fixed FHA:  3.25% paying 0 points

15 year fixed FHA:  2.75% paying 0 points

30 year fixed VA:  3.25% paying 0 points

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.

MORTGAGE RATES REBOUND – 30 YEAR FIXED BACK TO 3.5%

MORTGAGE RATES RISE QUICKLY WITH MBS SELL OFF!!

MORTGAGE RATES RISE QUICKLY WITH MBS SELL OFF!!

August 20th, 2012

The MBS market closed last week trading down (-91 bps) and on Monday the MBS market is trading up ( + 18 bps).

Mortgage rates went up rapidly as investors saw more signs that the European Debt situation seems to be easing and the US economy is getting stronger. When investor confidence comes back, there is usually a quick turn around and rates rise much faster than they go down. This is why I always say if you like a particular rate and product, lock it, as rates can change very quickly. I don’t see rates ever going below 3.25% without getting very expensive. Many potential borrowers missed out on great rates waiting for a small dip in rates, which would only lower their payment an additional $10-$20. It is usually not worth the risk.

There is not much data this week. I expect rates to rebound slightly as is the norm when rates go one way very quickly. On August 30th, Bernanke will have his opening speech at the annual economic conference at Jackson Hole. With the recent signs of economic strength, there is now investor sentiment that the FED will not begin another round of quantitative easing. His speech on the 30th, will likely give us some insight on what the FED may do.

On the bright side, football starts in 2 weeks. I will be out of town from Wednesday to Monday so you may not be able to reach me during those days. Make it a great week!!

My best value of the week:

30 Year Fixed High Balance Loan at 3.875% with .199 points

Below are rates available today paying a point or less:

30 year fixed:   3.625% paying .58 points, 3.75% paying 0 points
20 year fixed:   3.5% paying .79 points, 3.75% paying 0 points
15 year fixed:   2.875% paying .98 points, 3.125% paying 0 points
5/1 ARM:   2.25% paying .96 points, 2.625% paying 0 points
7/1 ARM:   2.5% paying .74 points, 2.75% paying 0 points
30 year fixed High Balance Loan:   3.75% paying .88 points, 3.99% paying 0 points
30 year fixed FHA:   3.25% paying 0 points
15 year fixed FHA:   2.75% paying 0 points
30 year fixed VA:   3.25% paying 0 points

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, 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.

MORTGAGE RATES RISE QUICKLY WITH MBS SELL OFF!!

MORTGAGE RATES RISE WITH LESS CONCERN OVER EUROPE’S DEBT CRISIS

MORTGAGE RATES RISE WITH LESS CONCERN OVER EUROPE’S DEBT CRISIS

August 13th, 2012

The MBS market closed last week trading down (-38 bps) and on Monday the MBSmarket closed down ( – 3 bps).    

Mortgage rates rose last week as fewer investors are seeking the safety of US Bonds and Mortgage Markets.  These markets are technically selling negative – pushing rates up from their previous lows.  The general mood on Europe’s monetary situation has improved with optimism that a solution to ease the situation will eventually happen.  This optimism causes less demand for mortgage backed securities, pushing the prices lower and rates higher.

I recommend locking as the MBS market technical indicators are in a bear state, indicating that rates could continue to creep higher. 

My best value of the week:

30 Year Fixed High Balance Loan at 3.75% with 0 points

Below are rates available today paying a point or less:

30 year fixed:  3.5% paying .24 points, 3.625% paying 0 points

20 year fixed:  3.375% paying .69 points, 3.5% paying 0 points

15 year fixed:  2.75% paying .869 points, 3% paying 0 points

5/1 ARM:  2.25% paying .8 points, 2.5% paying 0 points

7/1 ARM:  2.375% paying .85 point, 2.625% paying 0 points

30 year fixed High Balance Loan:  3.625% paying .43 points, 3.75% paying 0 points

30 year fixed FHA:  3.25% paying 0 points

15 year fixed FHA:  2.75% paying 0 points

30 year fixed VA: 3.25% paying 0 points

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, 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.

MORTGAGE RATES RISE WITH LESS CONCERN OVER EUROPE’S DEBT CRISIS

30 YEAR FIXED BACK TO 3.375% – WILD WEEK FOR MORTGAGE RATES.

30 YEAR FIXED BACK TO 3.375% – WILD WEEK FOR MORTGAGE RATES

August 6th, 2012

The MBS market closed last week trading up (+ 3 bps) and on Monday morning the MBSmarket is tradingup (+ 20 bps).    

Although the MBS market closed higher on the week, mortgage rates went up quite substantially on Friday due to a stronger than expected Unemployment report.  Although the unemployment rate went up to 8.3%, there was more job growth than expected – causing a sell off of mbs bonds, and the stock market to surge up 200 points.  Still mortgage rates ended the week a bit better than they started off last week.

On Wednesday, the FED statement did not include a new round of “quantitative easing”, or more commitments to purchase mortgage backed securities.  Many investors expected the FED to act, and they did not. 

Overall, last week was a wild week in the mortgage markets.  Rates improved quite a bit on Monday and Tuesday, but pulled back higher near the end of the week. 

This week should be much calmer, with very little data coming out that would push the markets too far in either direction.  One thing we learned on Friday –  if the economy gets a string of positive reports, interest rates will go up and usually very quickly. 

My best value of the week:

20 Year Fixed Loan at 3.375% with 0 points

Below are rates available today paying a point or less:

30 year fixed:  3.375% paying 1 point, 3.625% paying 0 points

20 year fixed:  3.25% paying .63 points, 3.375% paying 0 points

15 year fixed:  2.75% paying .71 points, 2.99% paying 0 points

5/1 ARM:  2.25% paying .85 points, 2.5% paying 0 points

7/1 ARM:  2.375% paying 1 point, 2.625% paying 0 points

30 year fixed High Balance Loan:  3.625% paying .6 points, 3.75% paying 0 points

30 year fixed FHA:  3.25% paying 0 points

15 year fixed FHA:  2.75% paying  0 points

30 year fixed VA: 3.25% paying 0 points

 

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, 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.

30 Year Fixed Back to 3.375% – Wild Week For Mortgage Rates

MORTGAGE RATES REMAIN STABLE – 30 YEAR FIXED AT 3.75%

MORTGAGE RATES REMAIN STABLE – 30 YEAR FIXED AT 3.75%

July 17th, 2012

The MBS market closed last week trading down (-3 bps). Basically a ho-hum week with not a lot of data or change in rates.

This week FED chairman Ben Bernanke testifies before Congress on Tuesday and Wednesday.  On Tuesday, he said that the FED could still use measures to boost economy if it saw fit. While not saying they would use them, he says they are available if they feel the need.

This economic easing could include another round of buying mortgage backed securities and lowering of the interest rate the FED charges it’s reserve banks. He noted that using these measures is an option,but  there a certain risks and side effects that need to be considered carefully before using them.

The FED is still happy with inflation staying below 2%. It will focus on job growth when deciding if more economic easing is necessary. Job growth has been very slow and below projected numbers the past few months.

All in all, there is not much information that we have not already been given. Mortgage rates are remaining at record low levels and it appears the FED will not push to purchase mortgage backed securities unless it absolutely has too.

I predict for rates to stay stable barring anything unforeseen happening in the market.

My best value of the week:

30 Year Fixed High Balance Loans at 3.75% paying 0 points
5/1 ARM at 2.5% paying .0 points

Below are rates available today paying a point or less:

30 year fixed: 3.375% paying .89 points, 3.5% paying 0 points
20 year fixed: 3.25% paying .78 points, 3.375% paying 0 points
15 year fixed: 2.75% paying .7 points, 2.99% paying 0 points
5/1 ARM: 2.25% paying .8 points, 2.5% paying 0 points
7/1 ARM: 2.375% paying .8 points, 2.625% paying 0 points
30 year fixed High Balance Loan: 3.5% paying .90 point, 3.75% paying 0 points
30 year fixed FHA: 3.25% paying 0 points
15 year fixed FHA: 2.75% paying .19 points, 2.875% paying 0 points
30 year fixed VA: 3.25% paying 0 points

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, 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.

Mortgage Rates Remain Stable – 30 Year Fixed at 3.75%

TODAY’S RATES – 30 YEAR FIXED AT 3.625% PAYING 0 POINTS!!

30 YEAR FIXED AT 3.625% PAYING 0 POINTS!!

June 18th, 2012

The MBS Market closed last week trading up (+ 16 bps).

Mortgage rates improved again – and are back to all time low levels.

Over the weekend, Greece held their elections and the party that wants to stay in the European Union won. There was not a ton of market movement on Monday because of this – right now the MBS market is trading up +7 bps.

The big thing to pay attention to this week is the FEDERAL OPEN MARKET COMMITTEE (FOMC) meeting on Tuesday and Wednesday and their statement release on Wednesday. Many industry experts predict they may extend purchasing mortgage backed securities in another set of Quantitative Easing. If they do, mortgage rates usually will go lower. If they don’t, mortgage rates will likely move higher. If you don’t want to risk it, we can lock your loan and offer a float down if rates get better after we lock.

My best value of the week:

30 Year Fixed at 3.625% paying 0 points.

Below are rates available today paying a point or less:

30 year fixed: 3.5% paying .58 points, 3.625% paying 0 points
20 year fixed: 3.25% paying .76 points, 3.375% paying 0 points
15 year fixed: 2.875% paying .41 points, 3% paying 0 points
5/1 ARM: 2.25% paying .95 points, 2.75% paying 0 points
7/1 ARM: 2.5% paying .86 point, 2.875% paying 0 points
30 year fixed High Balance Loan: 3.75% paying .80 points, 3.99% paying 0 points
30 year fixed FHA: 3.25% paying .63 points; 3.5% paying 0 points
15 year fixed FHA: 2.75% paying .39 points, 2.875% paying 0 points
30 year fixed VA: 3.25% paying .51 points, 3.5% paying 0 points

 

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, 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.

Today’s Rates – 30 Year Fixed at 3.625% Paying 0 Points!!