Tag: fed

RATES STEADY – WILL FED MOVE CAUSE INTEREST RATES TO RISE IN SEPTEMBER?

RATES STEADY – WILL FED MOVE CAUSE INTEREST RATES TO RISE IN SEPTEMBER?

August 12th, 2013

Last week started off with rising rates, but interest rates improved the last 3 days of the week.  Overall, the Mortgage Backed Security Market closed up + 1 bps on the week – keeping rates very similar to the week before.

On Monday morning, interest rates were improving when we had a big intraday swing which ended with the MBS market closing down – 25 bps. 

Much of the swing appeared to be due to the San Francisco chapter of the FED releasing an economic report essentially stating that the FED’s Mortgage Backed Security purchases were not very effective in stimulating the economy.   The report indicated very modest GDP growth as a result of the stimulus.

In the past week we have also heard over 5 FED members state that the FED needs to taper it’s bond purchasing program.

time bomb

This is a ticking time bomb at this point.  All signs point to the FED tapering in 2013.  They have FOMC meetings scheduled in September, October and December.  

I recommend any customers that can benefit from a refinance to take advantage of it before this move happens.  When it does, I expect 30 Year Fixed rates to jump into the 5%’s. 

The FED could slow the stimulus as early as September.

Make it a great week!!          

BEST VALUE OF THE WEEK:   

15 Year Fixed at 3.625% with 0 points

TODAY’S RATES:

30 year fixed:     4.375% – .72 points,     4.5% – 0 points,     4.625% – $0 costs

20 year fixed:   4.125% – .96 points,     4.375% – 0 points,     4.625%  – $0 costs

15 year fixed:   3.375% – .88 points,     3.625% – 0 points,     3.75% – $0 costs

5/1 ARM:   3% – .95 points,     3.625% – 0 points

7/1 ARM:    3.375% – .98 points,     4% – 0 points

10/1 ARM:    4% – .97 points,     4.5% – 0 points

30 year fixed FHA:    3.75% – .21 points,     4% – 0 points,      4.25% – $0 costs

15 year fixed FHA:    3.25% – .1 points,     3.375% – 0 points,      3.75% – $0 costs

30 year fixed VA:     4% – .17 points,     4.125% – 0 points,     4.25% – $0 costs

TR - August 12th, 2013

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.  Arizona refinance, California refinance, Colorado refinance.  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 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.

RATES STEADY – WILL FED MOVE CAUSE INTEREST RATES TO RISE IN SEPTEMBER?

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 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 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

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

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 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

MORTGAGE RATES LOWER SLIGHTLY , 30 YEAR FIXED AT 3.875%

MORTGAGE RATES LOWER SLIGHTLY  /  30 YEAR FIXED AT 3.875%

February 27th, 2012

The MBS Market closed last week trading up (+12 bps).   Rates pulled down slightly after moving up the past couple weeks.

The DOW Jones moved over 13,000 and the stock market has sustained a rally that has the stock market at their highest levels since 2008. 

There is thought that the stock market could be overbought, but with the public’s outlook towards the economy improving, the bullish market could continue with new investors trying to get in on the gains.   Here is a good article explaining the current state of the stock market:

http://www.msnbc.msn.com/id/46519385/ns/business-stocks_and_economy/#.T0sF6_WNOuI

As always, the mortgage rate market is closely tied to the stock market and if the market keeps improving, interest rates will likely rise. 

There a number of key economic releases this week along with a speaking engagement for Ben Bernanke.  This should be an interesting week with clues as to where we are heading. 

Below are rates available today paying a point or less:

30 year fixed: 3.875% paying .77 points, 4% paying 0 points

20 year fixed: 3.625% paying .78 points, 3.875% paying 0 points

15 year fixed: 3% paying .81 points, 3.375% paying 0 points

5/1 ARM: 2.625% paying .85 points, 3% paying 0 points

7/1 ARM: 2.875% paying .71 points, 3.125% paying 0 points

30 year fixed High Balance Loan: 4% paying .95 points, 4.25% paying 0 points

30 year fixed FHA: 3.75% paying 0 points

15 year fixed FHA: 2.875% paying .67 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, and Jumbo Mortgages.

Mortgage Rates Lower Slightly , 30 year fixed at 3.875%

MORTGAGE RATES REMAIN STABLE – 30 YEAR FIXED AT 3.75%

MORTGAGE RATES REMAIN STABLE – 30 YEAR FIXED AT 3.75%

February 6th, 2012

The MBS Market closed last week trading up (+ 3 bps).   Rates were better for the majority of the week, but a large stock rally and MBS market downward trend caused rates to pull back on Friday. 

Overall, mortgage rates are a little higher than the previous week even though the MBS markets ended the week trading up. 

This week is a relatively calm week in regards to market news.  Interest rate movement will likely be determined by the demand for Treasury bonds from Tuesday through Thursday, when the treasury is set to auction off 72 billion in bonds.

Today is still a great time to lock with mortgage rates a little higher than their lowest levels ever. 

Below are rates available today paying a point or less:

30 year fixed: 3.75% paying .79 points, 4% paying 0 points

20 year fixed: 3.5% paying .95 points, 3.875% paying 0 points

15 year fixed: 3% paying .69 points, 3.375% paying 0 points

5/1 ARM: 2.375% paying .97 points, 2.75% paying 0 points

7/1 ARM: 2.75% paying .92 points, 3.125% paying 0 points

30 year fixed High Balance Loan: 4% paying ,49 points, 4.25% paying 0 points

30 year fixed FHA: 3.75% paying 0 points

15 year fixed FHA: 2.75% paying .892 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, Freddie Mac Foreclosure Relief Mortgage, VA mortgages, VA Interest Rate Reduction Loans, FHA mortgages, FHA streamline mortgages, Conforming mortgages, Conventional Mortgages, High Balance Mortgages, Fannie Mae mortgages, Freddie Mac Mortgages,  and Jumbo Mortgages.

MORTGAGE RATES REMAIN STABLE – 30 YEAR FIXED AT 3.75%

MORTGAGE RATES HIT NEW ALL TIME LOWS – 30 YEAR FIXED AT 3.625%!!

MORTGAGE RATES HIT NEW ALL TIME LOW – 30 YEAR FIXED AT 3.625%

Last week saw a huge MBS rally, pushing mortgage rates to new all time lows.  The MBS Market closed last week trading down (+ 103 bps).

This rally started on Wednesday when the FOMC announced that the Federal Fund Rates (The rate at which the Federal Reserve loans to other banks) would remain at “exceptionally low levels” through late 2014.  After this, the MBS market had a huge rally and rates are now even lower than before, even with the Fannie Mae pricing increases now in effect. 

Today is a great day to lock in pricing on a new mortgage!!

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 .74 points, 3.75% paying 0 points

15 year fixed: 2.875% paying .94 points, 3.25% paying 0 points

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

7/1 ARM: 2.75% paying .62 points, 3% paying 0 points

30 year fixed High Balance Loan: 4% paying  .472 points, 4.125% 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

Thank you Telluride – you are awesome!!

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, Freddie Mac Foreclosure Relief Mortgage, VA mortgages, VA Interest Rate Reduction Loans, FHA mortgages, FHA streamline mortgages, Conforming mortgages, Conventional Mortgages, High Balance Mortgages, Fannie Mae mortgages, Freddie Mac Mortgages,  and Jumbo Mortgages.

Mortgage Rates hit new all time lows – 30 year fixed at 3.625%