INTEREST RATES IMPROVE TO 6 WEEK LOWS

FED DOES NOT TAPER – INTEREST RATES IMPROVE TO 6 WEEK LOWS

September 23rd, 2013

The FED announced on Wednesday that they will not taper their bond purchasing program at the present time.  This announcement went against many market prognosticators, helping push rates to their lowest levels in 6 weeks – and near their lowest levels in 4 months. 

30 Year Fixed dropped to 4.25% and 15 year fixed dropped back below 3.5% to 3.375%.  ARMs did not move as much – 5/1 ARMs currently start at 2.875% and 7/1 ARMs start at 3.5% paying a point or less. 

house-interest-rateThe FED’s reasoning was that the economy had not shown enough to warrant reducing the stimulus.  If the FED did taper, everyone knew rates would go up very quickly.  This could be a change of tone/direction for the FED, possibly indicating that they feel that the higher interest rates of the past 4 months have already negatively affected the economy. 

Still there will be constant pressure on rate markets unless the FED announces they no longer will taper.  The FED meets again at the end of October, and made it clear that they could choose to taper at anytime.

Enjoy the lower rates while they are here – hopefully they will stay for longer than we expected.

Make it a great week!!   

BEST VALUE OF THE WEEK:               

15 Year Fixed at 3.5% paying 0 points

5/1 ARM at 3.375% paying 0 points

TODAY’S MORTGAGE INTEREST RATES:    

30 year fixed:     4.25% – .99 points,     4.5% – 0 points,     4.625% – $0 costs

20 year fixed:   4.125% – .59 points,     4.25% – 0 points,     4.5%  – $0 costs

15 year fixed:   3.375% – .81 points,     3.5% – 0 points,     3.75% – $0 costs

10 year fixed:   3% – .98 points,     3.25% – 0 points,     3.625% – $0 costs

5/1 ARM:   2.875% – 1 point,     3.375% – 0 points,     3.75% – $0 costs

7/1 ARM:    3.5% – .85 points,     3.75% – 0 points,     4.125% – $0 costs

30 year fixed FHA:    3.75% – .82 points,      4% – 0 points,     4.125% – $0 costs

15 year fixed FHA:    3.25% – .99 points,     3.625% – 0 points,     3.75% – $0 costs

30 year fixed VA:     4% – .14 points,    4.125% – 0 points,     4.25% – $0 costs

Today's Interest Rates - September 23rd, 2013

Interest Rates Improve to 6 Week Lows

TODAY’S INTEREST RATES – 30 YEAR FIXED AT 3.5%

TODAY’S INTEREST RATES – 30 YEAR FIXED AT 3.5%

April 22nd, 2013

It’s been an uneventful week for interest rates. The Mortgage Backed Security market closed the week trading up (+ 3 bps). It’s suprising that we didn’t see more positive interest rate momentum with the stock market having one of it’s worst weeks in the past year.

The DOW Jones closed last week trading down -317 and polls show Americans are becoming pessimistic about the economy again. Last week would typically result in improving rates, but US Treasuries and the MBS market couldn’t surpass technical indicators to cause rates to drop.

It’s possible we may have hit the rate floor. Interest rates are unbelievably low, but still not at the all time low levels hit last year.

Make it a great week!!

BEST VALUE OF THE WEEK:

30 Year Fixed at 3.625% paying 0 points

TODAY’S RATES:

30 year fixed:      3.5% paying .20 points, 3.625% paying 0 points, 3.75% – $0 costs

20 year fixed:     3.375% paying .52 points, 3.5% paying 0 points, 3.625% – $0 costs

15 year fixed:      2.5% paying .99 points, 2.75% paying 0 points, 3% – $0 costs

5/1 ARM:      2% paying .99 points, 2.375% paying 0 points, 2.625% – $0 costs

7/1 ARM:     2.25% paying .99 points, 2.625% paying 0 points, 2.75%- $0 costs

30 year fixed High Balance Loan:     3.625% paying .82 points; 3.75% paying 0 points; 4% – $0 costs

30 year fixed FHA:     3.25% – $0 costs

15 year fixed FHA:     2.75% paying 0 points, 3% – $0 costs

30 year fixed VA:      3.25% – $0 costs

TR - 4-15-2013

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.  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 INTEREST RATES – 30 YEAR FIXED AT 3.5%,  April 22nd, 2013

RATES HIT LOWEST LEVELS SINCE JANUARY

RATES HIT LOWEST LEVELS SINCE JANUARY

April 8th, 2013

Interest rates had their best week in months.  Interest rates dropped approximately .125% on the week with the Mortgage Backed Security market closing up (+ 122 bps).  This is the fourth consecutive week that interest rates have improved, with last week being the most dramatic drop.

The economic optimism is coming back to earth which is helping interest rates come back down.  The Dow Jones closed last week close to where it began.  American citizens in some industries are now starting to feel the effects of the sequester.  North Korea’s bold rhetoric is starting to worry some investors. 

The week was capped by a lower than expected March job report.  Although the unemployment rate dropped from 7.7% to 7.6%, job growth was much lower than forecasted.  Non farm jobs only grew 88k from an expected 200k.  The drop in unemployment is mainly due to people leaving the work force.    

This week is another great opportunity to lock in as rates are at their lowest levels since January. 

Make it a great week!!   

BEST VALUE OF THE WEEK:

30 Year Fixed at 3.625% paying 0 points

TODAY’S RATES:

30 year fixed:     3.5% paying .21 points,     3.625% paying 0 points,     3.75% – $0 costs

20 year fixed:   3.25% paying .87 points,     3.5% paying 0 points,     3.625%  – $0 costs

15 year fixed:   2.625% paying .83 points,     2.875% paying 0 points,     3% – $0 costs

5/1 ARM:   2% paying .99 points,     2.375% paying 0 points,     2.625% – $0 costs

7/1 ARM:    2.25% paying .89 points,     2.5% paying 0 points,     2.75%- $0 costs

30 year fixed High Balance Loan:    3.625% paying .44 points;     3.75% paying 0 points;     3.875% – $0 costs

30 year fixed FHA:    3.25% – $0 costs

15 year fixed FHA:    2.75% paying 0 points,     2.875% – $0 costs

30 year fixed VA:    3.25% – $0 costs

TR - April 8th, 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.  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.

RATES HIT LOWEST LEVELS SINCE JANUARY

INTEREST RATES IMPROVE FOR THIRD STRAIGHT WEEK

INTEREST RATES IMPROVE FOR THIRD STRAIGHT WEEK

April 1st, 2013

Interest rates showed steady improvement for the third straight week.  The Mortgage Backed Security market closed the week trading up (+ 28 bps).

Although we are not seeing massive rate movement, interest rates gradually decreasing is a positive development for those considering a new mortgage.  With the recent rate improvement, those currently in the low 4%’s on a 30 year fixed mortgage can take advantage of a lower rate at $0 costs. 

In European debt news, Cyprus was able to reach a bail out deal, but the unrest in the European Union will likely keep investors buying safer mortgage backed securities and US treasury bonds.  This security measure should work as an obstacle for rates to move higher. 

LOCK ADVICE:

Now is a good time to lock.  Rates have improved for 3 weeks straight and are at their lowest levels since January.

This week is employment week with March’s unemployment report to be released on Friday.  As always, this usually causes considerably movement in the interest rate markets. 

Make it a great week!!    

BEST VALUE OF THE WEEK:

30 Year Fixed at 3.875% paying $0 costs

TODAY’S RATES:

30 year fixed:     3.5% paying 1 point,     3.75% paying 0 points,     3.875% – $0 costs

20 year fixed:   3.375% paying 1 point,     3.625% paying 0 points,     3.75%  – $0 costs

15 year fixed:   2.75% paying .96 points,     3% paying 0 points,     3.125% – $0 costs

5/1 ARM:   2.125% paying .95 points,     2.375% paying 0 points,     2.75% – $0 costs

7/1 ARM:    2.375% paying .88 points,     2.625% paying 0 points,     2.875%- $0 costs

30 year fixed High Balance Loan:    3.75% paying .71 points;     4% paying 0 points;     4.125% – $0 costs

30 year fixed FHA:    3.25% paying 0 points,    3.375% – $0 costs

15 year fixed FHA:    2.75% paying .26 points,     3% paying 0 points,     3.25% – $0 costs

30 year fixed VA:    3.25% – $0 costs

TR - April 1st, 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.  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 FOR THIRD STRAIGHT WEEK

INTEREST RATES IMPROVE – FED MEETING THIS WEEK

INTEREST RATES IMPROVE  –  FED MEETING THIS WEEK

March 18th, 2013

Interest rates had a good week last week with the mortgage backed security market closing the week trading up (+ 60 bps).  Welcome news after the sharp rise in rates the week before.  Overall, fixed interest rates went down approximately .125% with similar costs.

Even with positive trading for the majority of last week, the market was still very volatile.  Expect that to continue.

The main things to watch this week will be:

The Federal Open Market Committee’s public statement on Wednesday

The Stock Market’s performance

As always, the monthly Fed meeting and policy statement has the ability to substantially alter interest rates.  With most recent economic news being positive, many are watching to see if the FED will give clues on if they will stop buying treasuries and mortgage backed securities early.  If they do, expect rates to rise quickly.

The stock market has been trading at all time high’s for a couple of weeks now.  Many prognosticators have predicted a pull back, but this hasn’t happened yet.  If we do see some stock sell off and profit taking, interest rates will likely improve.

Remember that FHA is raising mortgage insurance rates and making it for the life of the loan on April 1st.  You can still get in with the old guidelines if I pull your FHA case number before April 1st

Had a great time running a race in Moab, Utah this weekend and celebrating my son’s 2nd Birthday.  I apologize if I was unavailable to get back to some of you to this week.  I will be back in town Monday afternoon.

arches rs

 

 

 

 

 

 

 

 

 

 

Make it a great week!!

BEST VALUE OF THE WEEK:

15 Year Fixed at 3.125% paying $0 costs

TODAY’S RATES:

30 year fixed:     3.625% paying .61 points,     3.75% paying 0 points,     4% – $0 costs

20 year fixed:   3.5% paying .76 points,     3.625% paying 0 points,     3.875%  – $0 costs

15 year fixed:   2.75% paying .99 points,     3% paying 0 points,     3.125% – $0 costs

5/1 ARM:   2.25% paying .82 points,     2.5% paying 0 points,     2.75% – $0 costs

7/1 ARM:    2.5% paying .72 points,     2.75% paying 0 points,     3%- $0 costs

30 year fixed High Balance Loan:    3.75% paying .77 points;     4.125% – $0 costs

30 year fixed FHA:    3.25% paying 0 points,    3.375% – $0 costs

15 year fixed FHA:    2.75% paying 0 points,     2.875% – $0 costs

30 year fixed VA:    3.25% – $0 costs

TR- 3-18-2103

Today’s Mortgage Interest Rates.  Current Mortgage Interest Rates and APRs for refinancing and purchasing in Arizona, California, and Colorado.  Arizona Home Loans, California Home Loans, Colorado Home Loans.  Mortgage Rate Sheets for fixed mortgages, ARM mortgages, Variable Mortgages, Interest Only Mortgages, HARP mortgages, HARP 2.0 mortgages, DU Refi Plus Mortgages, Freddie Mac Open Access Mortgages, Fannie Mae Home Path Mortgage, Freddie Mac Foreclosure Relief Mortgage, VA mortgages, VA Interest Rate Reduction Loans, FHA mortgages, FHA streamline mortgages, Conforming mortgages, Conventional Mortgages, 100%  Financing Mortgage, High Balance Mortgages, Fannie Mae mortgages, Freddie Mac Mortgages, No appraisal refinances, 0 point mortgages, 0 closing cost mortgages, paying a point mortgages, Refinance mortgages, purchase mortgages, and Jumbo Mortgages.

INTEREST RATES IMPROVE  –  FED MEETING THIS WEEK

INTEREST RATES STAY CONSISTENT / 85 BILLION IN SPENDING CUTS

INTEREST RATES STAY CONSISTENT  /   85 BILLION IN SPENDING CUTS ON FRIDAY

February 25th, 2013

Interest rates remain stable for the third straight week.  The Mortgage Backed Security Market closed the week trading up (+ 16 bps), but Monday morning is trading down (-21 bps). 

Interest rates continue the trend of staying relatively the same or slightly moving up.  The FEDs MBS purchasing program is keeping rates from going up to much, but the market has not significantly improved in over a month.

On Friday, 85 billion in spending cuts are scheduled to take place unless a deal is made in Congress.  The global markets have known about this for some time and it hasn’t affected the markets thus far.  This is something to watch closely though as both parties agree that the current spending cuts will have a negative effect on the economy.

Interest rates are unlikely to gain significant improvement without a dramatic loss in the stock market.  Maybe the automatic spending cuts will be the event that makes that happen.  I’ll be watching closely, but I still believe a last minute deal will take place kicking the can further down the road.

Have a great week!!

BEST VALUE OF THE WEEK:

5/1 ARM at 2.375% paying 0 points

TODAY’S RATES:

30 year fixed:     3.625% paying .56 points,     3.75% paying 0 points,     4% – $0 costs

20 year fixed:   3.5% paying .61 points,     3.625% paying 0 points,     3.875%  – $0 costs

15 year fixed:   2.875% paying .59 points,     3% paying 0 points,     3.25% – $0 costs

5/1 ARM:   2.125% paying .99 points,     2.375% paying 0 points,     2.75% – $0 costs

7/1 ARM:    2.5% paying .60 points,     2.625% paying 0 points,     2.875%- $0 costs

30 year fixed High Balance Loan:    3.75% paying .84 points;     4.125% paying 0 points;    4.25% – $0 costs

30 year fixed FHA:    3.25% paying 0 points,     3.375% paying $0 costs

15 year fixed FHA:    2.75% – 0 points,     3% – $0 costs

30 year fixed VA:    3.25% paying 0 pts,     3.375% – $0 costs

TR - 2-25-13

INTEREST RATES STAY CONSISTENT   /  85 BILLION IN SPENDING CUTS

INTEREST RATES RISING QUICKLY

INTEREST RATES RISING QUICKLY

February 8th, 2013

Rates have risen approximately .25% on fixed loans since my last update 2 weeks ago.  Adjustable Rate Mortgages have maintained their same levels.  The Mortgage Backed Security market is trading down (-83 bps) over that time.  The stock market has held recent gains which pushes investor money out of bonds, and into the stock market – increasing interest rate pricing. 

Many experts predicted the market would move back down after it’s recent rally.  It hasn’t.   There is increasing confidence among investors and the general public that the US economy is on the right track.  This week it was reported that homes values annually appreciated at their highest levels in 7 years. 

The debt ceiling debate is raging on again and most insiders predict another kick the can down the road strategy with debt cuts.  Congress’s new self imposed deadline is March 1st before large automatic cuts will go into effect.

LOCK RECOMMENDATION:

The market is extremely volatile right now – meaning interest rate pricing can vary significantly each day.  I am recommending locking on any improvements in the market. 

Have a great week!!

BEST VALUE OF THE WEEK:

5/1 ARM at 2.5% with 0 points

TODAY’S RATES:

30 year fixed:     3.625% paying .49 points,     3.75% paying 0 points,     3.99% – $0 costs

20 year fixed:   3.5% paying .89 points,     3.625% paying 0 points,     3.875%  – $0 costs

15 year fixed:   2.875% paying .55 points,     2.99% paying 0 points,     3.25% – $0 costs

5/1 ARM:   2.25% paying .99 points,     2.5% paying 0 points,     2.875% – $0 costs

7/1 ARM:    2.5% paying .96 points,     2.75% paying 0 points,     3%- $0 costs

30 year fixed High Balance Loan:    3.75% paying .77 points;     4% paying 0 points;    4.125% – $0 costs

30 year fixed FHA:    3.25% paying 0 points,     3.375% paying $0 costs

15 year fixed FHA:    2.75% – 0 points,     3% – $0 costs

30 year fixed VA:    3.25% – $0 costs

TR - 2-8-13

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 Rising Quickly