Tag: bernanke

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 FALL AGAIN – FED CAN AND WILL DO MORE

MORTGAGE RATES FALL AGAIN – FED CAN AND WILL DO MORE

September 4th, 2012

Happy September!!

The MBS market closed last week trading up (+ 78 bps) and on Tuesday the MBSmarket is currently trading up ( + 2 bps).    

The market received a jolt on Friday with Ben Bernanke’s speech at the Jackson Hole economic conference.  The Fed Chairman stated that the Fed can and will do more to boost the economy and help lower unemployment.  This moved the MBS market from trading down to closing up + 50 bps. 

The speculative nature of the market took this as a sign that the Fed would “ease” again by purchasing more mortgage backed securities.  The next meeting of the Federal Open Market Committee is September 13th. 

Since the market has basically already priced in a possible mortgage backed security purchase into mortgage rates, if they don’t “ease” on the 13th, rates will likely go higher.  Data this week will likely determine if the FED will make this move on the 13th.  This week is highlighted by the August unemployment report on Friday.

This week will likely be volatile – right now is a great time to lock with rates significantly improving on Friday and holding their gains today. 

My best value of the week:

30 Year Fixed High Balance Loan at 3.625% 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 .717 points, 3.375% paying 0 points

15 year fixed:  2.75% paying .881 points, 2.99% paying 0 points

5/1 ARM:  2.125% paying .779 points, 2.5% paying 0 points

7/1 ARM:  2.375% paying .762 points, 2.625% paying 0 points

30 year fixed High Balance Loan:  3.5% paying .701 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 Fall Again – FED can and will do more.

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 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%

INTEREST RATES IMPROVE AGAIN / 30 YEAR FIXED AT 3.625%

INTEREST RATES IMPROVE AGAIN / 30 YEAR FIXED AT 3.625%

April 30th, 2012

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

Mortgage rates continue to improve as more and more investors are concerned regarding the slumping economy and the still unresolved Europe debt crisis.

30 year fixed rates are now down to 3.625% and the 30 year fixed High balance loans are down to 3.875%. This is a great time to lock. These are the lowest interest rates I have seen in a couple of months.

The Fed Meeting last week didn’t cause as much drama as some anticipated. Ben Bernanke’s statement said that the FED is still committed to keeping interest rates low through the end of 2014, and will not be doing another round of mortgage backed security purchases at this time. They kept this open ended, saying the FED will act if it was needed to help the economy.

Below are rates available today paying a point or less:

30 year fixed: 3.625% paying .99 pts, 3.99% paying 0 points

20 year fixed: 3.5% paying .63 points, 3.75% paying 0 points

15 year fixed: 2.875% paying .91 points, 3.125% paying 0 points

5/1 ARM: 2.25% paying .97 points, 2.625% paying 0 points

7/1 ARM: 2.625% paying .77 points, 2.875% paying 0 points

30 year fixed High Balance Loan: 3.875% paying .69 points, 4% paying 0 points

30 year fixed FHA: 3.75% paying 0 points

15 year fixed FHA: 2.875% paying .7 points, 3.125% paying 0 points

30 year fixed VA: 3.75% 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.

INTEREST RATES IMPROVE AGAIN / 30 YEAR FIXED AT 3.625%

MORTGAGES RATES LOWER – BIG FED MEETING WEDNESDAY

MTG RATES LOWER – BIG FED MEETING ON WEDNESDAY

April 23rd, 2012

The MBS Market closed last week trading up (+13 bps.)    

Overall it is has been a very good market for interest rates over the past couple weeks.  Rates lowered a few weeks ago, and we haven’t seen much movement since then.

Stocks have been down lately, and the continuing debt problem in Europe is dragging down the European economy – causing more investors to seek the safety of US Treasuries.

The big news this week is on Wednesday with The Federal Open Market Committee meeting and statement.  Many still think the FED may announce another round of mortgage backed security purchases to keep rates low as the economy is showing signs of not fully recovering. 

There is almost always a large swing in interest rates up or down after the FOMC statement.  If you don’t like risk – you may want to lock before Wednesday. 

I offer a float down policy – which means if we lock your rate and your rate drops .25% during the loan process, I can “float down your rate” to the lower rate with the same costs.  This gives the security of a guaranteed price and the ability to get a lower rate if rates drop a lot after locking. 

Below are rates available today paying a point or less:

30 year fixed: 3.75% paying .91 points, 3.99% paying 0 points

20 year fixed: 3.5% paying .76 points, 3.75% paying 0 points

15 year fixed: 2.875% paying .97 points, 3.125% paying 0 points

5/1 ARM: 2.25% paying .97 points, 2.75% paying 0 points

7/1 ARM: 2.625% paying .74 points, 2.875% paying 0 points

30 year fixed High Balance Loan: 4% paying .16 points, 4.125% paying 0 points

30 year fixed FHA: 3.75% paying 0 points

15 year fixed FHA: 2.875% paying .67 points, 3.125% paying 0 points

30 year fixed VA: 3.75% 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.

MORTGAGES RATES LOWER – BIG FED MEETING WEDNESDAY

MORTGAGE RATES IMPROVE , GREAT TIME TO LOCK!!

MORTGAGE RATES IMPROVE AGAIN – GREAT TIME TO LOCK!!

April 9th, 2012

The MBS Market closed last week trading (+78 bps.)    

Wow, last week was a roller coaster.  Early in the week, rates went up a ton.  The market dropped with news that the FED would unlikely do a new round of buying mortgage backed securities, which helps keep demand for mortgage backed securities high, and mortgage rates low.

On Friday, the jobs report came out and did not meet most economists’ expectations.  This pushed rates way down on Friday, with a 75 bps swing.

Overall pricing on mortgages changed over a point on a particular rate within 3 days. 

The week ended with better mortgage rates but the market is very volatile right now.  All mortgage pricing is really good right now.  I would recommend locking as who knows how long these prices will last.

Below are rates available today paying a point or less:

30 year fixed: 3.875% paying .58 points, 4% paying 0 points

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

15 year fixed: 3% paying .58 point, 3.25% paying 0 points

5/1 ARM: 2.5% paying .8 points, 2.875% paying 0 points

7/1 ARM: 2.75% paying .78 points, 3% paying 0 points

30 year fixed High Balance Loan: 4% paying .43 points, 4.125% paying 0 points

30 year fixed FHA: 3.75% paying 0 points

15 year fixed FHA: 3% paying .8 points, 3.25% paying 0 points

30 year fixed VA: 3.75% 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 Improve – Great time to lock!!

MORTGAGE RATES SEE SAW BACK AND FORTH

MORTGAGE RATES SEE SAW BACK AND FORTH

March 5th, 2012

The MBS Market closed last week trading up (+6 bps).   Although the market ended the week very close to how it began, there were major swings during the week.

The week began with small improvements on Monday and Tuesday.  On Wednesday, Ben Bernanke made a speech were he stated that the FEDERAL RESERVE would not start a new plan for purchasing mortgage backed securities, pushing demand up and rates down. 

Interest rates immediately took a nose dive, the mortgage backed securities market lowered – 60 bps over 3 days.  The market did recover some Friday, pushing the mbs market positive for the week.

Interest rates go up faster than they go down.  So even though the mbs market ended the week higher, many of the long term fixed rates went slightly up in price.  That being said, Over 417k High Balance Loans are actually pricing better, so are ARM and FHA loans.  So some loans are pricing better, and some are pricing worse. 

My long term outlook is that rates have likely hit their lows, but if they do go up, they will not likely go up much for the foreseeable future. 

Below are rates available today paying a point or less:

30 year fixed: 3.875% paying .89 points, 4.125% paying 0 points

20 year fixed: 3.75% paying .63 points, 3.99% paying 0 points

15 year fixed: 3% paying .91 points, 3.375% paying 0 points

5/1 ARM: 2.5% paying .97 points, 3% paying 0 points

7/1 ARM: 2.875% paying .68 points, 3.125% paying 0 points

30 year fixed High Balance Loan: 4% paying .31 points, 4.125% paying 0 points

30 year fixed FHA: 3.75% paying 0 points

15 year fixed FHA: 2.75% paying .867 points, 3% paying 0 points

30 year fixed VA: 3.75% 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 See Saw Back and Forth – March 2012