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

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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 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%

MORTGAGE RATES SURPASS ALL TIME LOWS AGAIN!!

MORTGAGE RATES SURPASS ALL TIME LOWS AGAIN!!!

July 2nd, 2012

The MBS market closed last week trading up (+28 bps).  So far on July 2nd, the MBS market is trading up (+31 bps ).

Mortgage Rates have again surpassed their lowest levels ever.  It sounds like a broken record as we have seen 3 records over the past few weeks.  The concern is also still the same – investors are seeking safe investments due to the increasingly gloomy look on Europe’s economy.  This is helping keep rates low and helping them go even lower.

I mentioned this a couple weeks ago, but when you get down this low, lenders aren’t as willing to give out as much better pricing as they usually would when the MBS market trades up.  The market is up close to + 60 bps over the past week, but you are not seeing as much change in pricing as you usually would.

I recommend locking as rates are unbelievable and lenders aren’t going to give out much better pricing unless the MBS market breaks a new barrier. 

My best value of the week:

30 Year Fixed at 3.5% paying .31 points

Below are rates available today paying a point or less:

30 year fixed: 3.5% paying .31 points, 3.625% paying 0 points

20 year fixed: 3.25% paying .76 points, 3.375% paying 0 points

15 year fixed: 2.75% paying .83 points, 2.99% paying 0 points

5/1 ARM: 2.25% paying .89 points, 2.625% paying 0 points

7/1 ARM: 2.375% paying 1 point, 2.75% paying 0 points

30 year fixed High Balance Loan: 3.625% paying 1 point, 3.875% paying 0 points

30 year fixed FHA: 3.25% paying 0 points

15 year fixed FHA: 2.75% paying .21 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 SURPASS ALL TIME LOWS AGAIN!!

 

MORTGAGE RATES SURPASS RECORD LOWS, AGAIN!!!

MORTGAGE RATES SURPASS RECORD LOWS,  AGAIN!!!

June 4th, 2012

The MBS Market closed last week trading up (+ 100 bps)!! 

Mortgage Rates positive momentum started with great pricing improvement near the latter half of the week.  The stock market was hit hard last week, culminating in a poor jobs report on Friday that pushed rates below another record.

That being said, when mortgage rates hit a low point, they usually only stay there for a day or two tops.  I expect rates to increase this week, but not by much.

This is the best time in the history of the mortgage industry to take advantage of low rates either by refinancing or purchasing a new home.  Please call me or fill out the quote questions below for an up to date quote. 

My best values for the week:

30 Year Fixed at 3.625% paying less than .2 points.

20 Year Fixed at 3.5% paying 0 points.

Below are rates available today paying a point or less:

30 year fixed: 3.5% paying .65 point, 3.75% paying 0 points

20 year fixed: 3.375% paying .31 points, 3.5% paying 0 points

15 year fixed: 2.875% paying .54 points, 3% paying 0 points

5/1 ARM: 2.25% paying .89 points, 2.625% paying 0 points

7/1 ARM: 2.375% paying .97 point, 2.75% paying 0 points

30 year fixed High Balance Loan: 3.75% paying .47 points, 3.875% paying 0 points

30 year fixed FHA: 3.25% paying .95 points; 3.5% paying 0 points

15 year fixed FHA: 2.75% paying .62 points, 3% paying 0 points

30 year fixed VA: 3.25% paying .819 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.

MORTGAGE RATES SURPASS RECORD LOWS,  AGAIN!!!

TODAY’S MORTGAGE RATES – MAY 29th, 2012

MORTGAGE RATES RISE – BUT COULD DROP LOWER.   

May 29th, 2012

The MBS Market closed last week trading down (-9 bps).  

After hitting all time lows the week before, mortgage rates have pulled up a bit.  This is pretty typical when mortgage pricing hits a low point.  Pricing only stays there for a day or so.  Lenders also don’t bring pricing down as much when the market improves, and lenders bring pricing up quicker when it worsens. 

Even so, mortgage rates are still unbelievably low and I am optimistic they will stay low and may even go a bit lower. 

Europe is still in a huge mess, and until that clears up, investors will continue to seek the sanctity of safe US Treasury bonds.  This helps keeps rates low and could push them lower. 

Below are rates available today paying a point or less:

30 year fixed: 3.625% paying .95 point, 3.875% paying 0 points

20 year fixed: 3.5% paying .61 points, 3.75% paying 0 points

15 year fixed: 2.875% paying .83 points, 3.125% paying 0 points

5/1 ARM: 2.25% paying .99 points, 2.75% paying 0 points

7/1 ARM: 2.5% paying .99 point, 2.875% paying 0 points

30 year fixed High Balance Loan: 3.875% paying .33 points, 4% paying 0 points

30 year fixed FHA: 3.75% paying 0 points

15 year fixed FHA: 2.75% paying .84 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.

Today’s Mortgage Rates

30 YEAR FIXED AT 3.625% WITH .67 POINTS

30 YEAR FIXED AT 3.625% WITH .67 POINTS

May 14th, 2012

The MBS Market closed last week trading up (+9 bps.)    

Rates continue their positive momentum as concerns continue to mount regarding Europe’s debt situation.  As I explained last week, rates and pricing are great and are equal to the lowest levels in the history of the mortgage industry.

The market seems to have hit a bottom, as lenders are not offering below a certain level on the rate and pricing even when the market improves. 

MY BEST VALUES OF THE WEEK:

30 Year Fixed at 3.625% paying .67 points

30 Year Fixed High Balance Loan at 3.875% paying .32 points

Below are rates available today paying a point or less:

30 year fixed: 3.625% paying .67 points, 3.875% paying 0 points

20 year fixed: 3.5% paying .32 points, 3.625% paying 0 points

15 year fixed: 2.875% paying .80 points, 3.125% paying 0 points

5/1 ARM: 2.375% paying .84 points, 2.75% paying 0 points

7/1 ARM: 2.625% paying .9 point, 2.75% paying 0 points

30 year fixed High Balance Loan: 3.875% paying .34 points, 3.99% 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.

30 Year Fixed at 3.625% with .67 points

INTEREST RATES HIT BOTTOM!!

INTEREST RATES HIT BOTTOM

May 7th, 2012

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

Even though the market continues to move higher, rates have hit a bit of a stand still.  There usually comes a point where lenders are unwilling to keep going lower on the pricing – and it appears we have hit that at least for the time being.

With the mortgage backed security market improvement – mortgage rates should price about .25% better on costs, but those gains are not being passed on. 

On the bright side, rates are right in line with their lowest levels ever.  With increased concerns regarding Europe and the US Economy, they may stay here for a while.

The best values I am seeing on the market right now are a 30 Year Fixed at 3.99% at $0 costs, and a 2.875% 7/1 ARM at 0 points.   From the eyes of a consumer, those are products I would be strongly considering.    

Below are rates available today paying a point or less:

30 year fixed: 3.625% paying 1 point, 3.875% paying 0 points

20 year fixed: 3.5% paying .56 points, 3.75% paying 0 points

15 year fixed: 2.875% paying .87 points, 3.125% paying 0 points

5/1 ARM: 2.375% paying .9 points, 2.75% paying 0 points

7/1 ARM: 2.625% paying 1 point, 2.75% paying 0 points

30 year fixed High Balance Loan: 4% paying .37 points, 4.125% 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 Hit Bottom

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

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