WEEKLY RATE – Rates Slowly Moving Higher Before Fed Policy Statement on Wednesday

WEEKLY RATE – Rates Slowly Moving Higher Before Fed Policy Statement on Wednesday

April 2016

Interest rates slowly moved higher last week with the Mortgage Backed Security (MBS) market closing the week down 4 of 5 days and also closing down this Monday.

The Mortgage Backed Security (MBS) now has moved down -64 Bps over the past 5 business days signifying we are definitely in a rising rate environment.

The Federal Open Market Committee (FOMC) is meeting Tuesday with a FED policy statement on Wednesday.  The possibility of a Federal Funds rate movement higher is on the table, but may not be at this meeting with low expected GDP growth in the first quarter of 2016.

I’m still recommending locking at this point in time.

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

TODAY’S INTEREST RATES:

30 year fixed:       3.625% – 1 points (3.82% APR),       3.75% – 0 points (3.78% APR)

20 year fixed:       3.5% – .64 points (3.63% APR),        3.625% – 0 points (3.65% APR)

15 year fixed:        2.875% – .64 points (2.99% APR),        3.125% – 0 points (3.15% APR)

10 year fixed:        2.75% – .57 points (2.86% APR),        3.0% – 0 points (3.05% APR)

5/1 ARM:        2.875% – 1 point (3.07% APR),         3.25% – 0 points (3.29% APR)

7/1 ARM:       3.125% – .82 points (3.28% APR),        3.375% – 0 points (3.41% APR)

30 year fixed FHA:        3.25% – .58 points (4.06% APR),      3.375% – 0 points (4.07%APR)

15 year fixed FHA:        2.875% – .67 points (3.3% APR),      3.125% – 0 points (3.42% APR)

30 year fixed VA:        3.25% – .83 points (3.36% APR),      3.5% – 0 points (3.53% APR)

Today's Interest Rates - April 25th 2016

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.  April 25th 2016 30 year fixed rates, April 26th 2016 30 year fixed rates, April 27th 2016 30 year fixed rates, April 28th 2016 30 year fixed rates, April 29th 2016 30 year fixed rates, April 30th 2016 30 year fixed rates, May 1st 2016 30 year fixed rates.

WEEKLY RATE – Rates Slowly Moving Higher Before Fed Policy Statement on Wednesday

INTEREST RATES RISE SLIGHTLY – 30 YEAR FIXED PAR RATE STILL AT 3.25%

INTEREST RATES RISE SLIGHTLY  –  30 YEAR FIXED PAR RATE STILL AT 3.25%

November 19th, 201

Interest rates rose slightly last week with the stock market optimistic that a deal will get done to avoid the fiscal cliff.

The Mortgage backed security market closed last week down (-28 bps), and is currently trading on Monday down (-11 bps). 

On Friday, President Obama met with other political leaders to discuss the fiscal cliff.  Both sides seem to be softening their stance so the stock market is optimistic that a deal will get done – which is pushing stocks up and mortgage backed securities down.

This is a shortened week due to the Thanksgiving Holiday. 

On Monday, housing data was released that continues to show the housing market improving.  On Tuesday, The European Union is meeting with Greece regarding additional funds to avoid the country defaulting on it’s debt.  Ben Bernanke is also speaking at the NY Economics Club.  The market will be listening for clues on the Fed’s next move.

Rates are still trading in narrow ranges with the same rates available with fluctuating costs depending on how the market is moving.  30 Year Fixed rates at 3.25% are still available paying a point.  I see interest rates remaining in this range through the end of 2012. 

Have a Happy and Safe Thanksgiving!!

TODAY’S RATES:

30 year fixed:     3.25% paying 1 point,     3.5% paying 0 points,     3.625% – $0 costs

20 year fixed:   3.25% paying .38 points,     3.375% paying 0 points,     3.5%  – $0 costs

15 year fixed:   2.75% paying .42 points,     2.875% paying 0 points,     3.125% – $0 costs

5/1 ARM:   2.125% paying .89 points,     2.5% paying 0 points,     2.75% – $0 costs

7/1 ARM:    2.375% paying .74 points,     2.625% paying 0 points,     2.875%- $0 costs

30 year fixed High Balance Loan:    3.5% paying .34 points;     3.625% – $0 costs

30 year fixed FHA:    3.25% – $0 costs

15 year fixed FHA:    2.75% – 0 points,     2.875% – $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 SLIGHTLY  –  30 YEAR FIXED PAR RATE STILL AT 3.25%

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 VA3.25% 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 IMPROVE – 30 YEAR FIXED BACK TO 3.875%

MORTGAGE RATES IMPROVE – 30 YEAR FIXED BACK TO 3.875%

April 2nd, 2012

The MBS Market closed last week trading (+ 31 bps.)

Mortgage rates saw some nice improvement this week. This was the improvement I expected last week, but better late than never.

I still maintain rates have seen their lows and will not reach them again unless there is a major economic blow. I see rates staying relatively stable for the foreseeable future.

Below are rates available today paying a point or less:

30 year fixed: 3.875% paying .99 points, 4% paying 0 points
20 year fixed: 3.75% paying 1 point, 3.99% paying 0 points
15 year fixed: 3.125% paying 1 point, 3.375% paying 0 points
5/1 ARM: 2.625% paying .8 points, 3.375% paying 0 points
7/1 ARM: 3% paying .86 points, 3.375% paying 0 points
30 year fixed High Balance Loan: 4.125% paying .8 points, 4.5% 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

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 MORTGAGE RATES – MORTGAGE RATES IMPROVE / 30 YEAR FIXED BACK TO 3.875%

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