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

FIXED INTEREST RATES CLOSE WEEK AT MULTI-MONTH HIGH – ARMS STILL PRICING GREAT

FIXED INTEREST RATES CLOSE WEEK AT MULTI-MONTH HIGH  –  ARMS STILL PRICING GREAT.

March 10th, 2013

Interest rates rose every day last week – and the rate markets look increasingly bearish moving forward.

The Mortgage Backed Security market closed last week (-85 bps).  The week was capped by a better than expected February unemployment report with unemployment dropping from 7.9% to 7.7%.  Non farm jobs increased 236,000 and private jobs increased 246,000.

The stock markets are up in the US, Europe and Asia.  Though the stock market seems prime for a pullback, the biggest concern to interest rates going forward is if the FED decides to stop purchasing mortgage backed securities sooner than expected.  The more positive news coming out – the increasing likelihood that the FED will eventually stop keeping interest rates artificially low.

Although fixed rates have went up, ARM rates are still pricing great.  I think a 7/1 ARM is a great product, and something to consider in this market.  The rate doesn’t adjust for 7 years, and the rate can never go 5% above the start rate – and it is unlikely the rate would go that high.

We could see some improvement in interest rates this week, but the long term outlook still looks bleak.  I recommend locking rates on any improvement in the rate markets this week.

I am going to Moab, Utah for a half marathon on Wednesday.  If you would like to get approved or lock in a loan this week, please try to get a hold of me early in the week. 

Make it a great week!!

BEST VALUE OF THE WEEK:

7/1 ARM at 2.75% paying 0 points

TODAY’S RATES:

30 year fixed:     3.75% paying .39 points,     3.875% paying 0 points,     4.125% – $0 costs

20 year fixed:   3.625% paying .71 points,     3.75% paying 0 points,     4%  – $0 costs

15 year fixed:   2.875% paying .75 points,     3% paying 0 points,     3.375% – $0 costs

5/1 ARM:   2.25% paying .98 points,     2.5% paying 0 points,     2.875% – $0 costs

7/1 ARM:    2.5% paying .95 points,     2.75% paying 0 points,     3.125%- $0 costs

30 year fixed High Balance Loan:    3.875% paying .9 points;     4.125% paying 0 points;    4.25% – $0 costs

30 year fixed FHA:    3.25% paying .33 points,    3.5% – $0 costs

15 year fixed FHA:    2.75% paying 0 points,     3.125% – $0 costs

30 year fixed VA:    3.25% paying 0 points,    3.5% – $0 costs

TR-3-10-2013

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.

FIXED INTEREST RATES CLOSE WEEK AT MULTI-MONTH HIGH  –  ARMS STILL PRICING GREAT

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

Today’s Rates – 30 Year Fixed at 3.375%

TODAY’S RATES – 30 YEAR FIXED AT 3.375%

January 14th, 2012

Last week interest rates rose after hitting their best levels of the year on Monday. The Mortgage Backed Security Market traded down (– 50 bps) on Thursday, but recovered some on Friday. Overall on the week, the MBS market closed down (-5 bps).

Technical indicators are showing that the market has a higher appetite for stocks and a smaller appetite for bonds. If this trend continues we will continue to see interest rates trend higher, like they have over the past 2 months.

I recommend locking in pricing on any improvements in the market. I am going to Hawaii for 10 days on January 28th. If you think you would like to get something started this week, please call/email as soon as you can.

Hawaii

Have a great week!!

BEST VALUE OF THE WEEK:

15 Year Fixed at 2.99% with $0 costs

TODAY’S RATES:

30 year fixed:      3.375% paying .87 points,      3.5% paying 0 points,      3.75% – $0 costs
20 year fixed:      3.375% paying .53 points,      3.5% paying 0 points,       3.625% – $0 costs
15 year fixed:      2.75% paying .42 points,       2.875% paying 0 points,       2.99% – $0 costs
5/1 ARM:      2.25% paying .98 points,       2.625% paying 0 points,      2.875% – $0 costs
7/1 ARM:      2.5% paying .87 points,       2.75% paying 0 points,      3.125%- $0 costs
30 year fixed High Balance Loan:      3.625% paying .41 points;       3.75% paying 0 points;       4% – $0 costs
30 year fixed FHA:      3.25% – $0 costs
15 year fixed FHA:       2.75% – 0 points,       3% – $0 costs
30 year fixed VA:      3.25% – $0 costs

TR-1-21-2013

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 Rates – 30 Year Fixed at 3.375%

INTEREST RATES REMAIN STABLE – FISCAL CLIFF TALKS STALL

INTEREST RATES REMAIN STABLE – FISCAL CLIFF TALKS STALL

December 10th, 2012

Interest rates started off last week lower and then rose near the end of the week. Overall, the mortgage backed security market closed the week trading down (-22 bps). On Monday morning, the MBS market is trading (+ 15 bps).

Rates are very similar across with ARM pricing showing some improvement. The better than expected employment report on Friday caused rates to lose some of the gains from earlier in the week.

The Fiscal Cliff negotiations remain at a standstill with neither side willing to budge just yet. It looks more and more likely that a temporary agreement may go into place pushing this issue down the road yet again. I expect rates to continue to trade in narrow ranges until something of substance happens with the Fiscal Cliff.

This week the Federal Open Market Committee (FOMC) is meeting and is expected to announce a continuation of Operation Twist, which expires this month.

The FHFA announced that they may raise the guaranteed fee (G FEE) for Fannie Mae and Freddie Mac loans again in these states: Connecticut, Illinois, Florida, New Jersey and New York. The FHFA raised the G Fee nationally earlier this year. If this goes into effect, the cost of borrowing in these states will increase and a national G fee increase may be coming.

Have a great week!!

TODAY’S RATES:

30 year fixed:     3.25% paying .87 points,     3.5% paying 0 points,     3.625% – $0 costs
20 year fixed:     3.25% paying .379 points,     3.375% paying 0 points,     3.5% – $0 costs
15 year fixed:      2.625% paying .94 points,      2.875% paying 0 points,     3% – $0 costs
5/1 ARM:      2% paying 1 point,      2.375% paying 0 points,      2.625% – $0 costs
7/1 ARM:      2.25% paying .9 points,      2.5% paying 0 points,      2.75%- $0 costs
30 year fixed High Balance Loan:      3.5% paying .32 points;      3.625% – 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

TR - 12-10-2012

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 Remain Stable – Fiscal Cliff Talks Stall

INTEREST RATES HIT 3 WEEK LOW BEFORE ELECTION

INTEREST RATES HIT 3 WEEK LOW BEFORE ELECTION: 

November 5th, 2012

Rates improved to a 3 week low on the Monday before the election.

Last week the MBS market closed (+20 bps) for the week.  The markets were again helped by a  Friday rally that was somewhat unusual this time.  October’s unemployment report was released on Friday, and even though the unemployment rate went up to 7.9%, the job creation was higher than expected which will usually trigger higher stock prices and increasing rates.  This time it did the opposite. 

On Monday the MBS market closed (+18 bps) on the day, after trading up over 30 bps for most of the day. 

This week the market is focused on the election.  The general consensus is:

If Obama wins, rates will improve

If Romney wins, rates will increase

I don’t think there will be huge swings either way, but I do see some movement based on who wins.  What nobody wants is uncertainty over the results.  Hopefully the winner is confirmed Tuesday evening. 

Outside of the election – the Treasury is auctioning off 72 billion in notes this week.  There is concern that the European debt situation could creep back into the rate markets after being absent for some time.  Greece is having trouble meeting the terms of the country’s bail out.  There will likely be more news on this near the end of the week

Have a great election week and get out and vote. 

TODAY’S RATES:

30 year fixed:     3.25% paying .79 points,     3.375% paying 0 points,     3.625% – $0 costs

20 year fixed:   3.25% paying .25 points,     3.375% paying 0 points,     3.5%  – $0 costs

15 year fixed:   2.625% paying .82 points,     2.875% paying 0 points,     3% – $0 costs

5/1 ARM:   2.125% paying .99 points,     2.5% paying 0 points,     3% – $0 costs

7/1 ARM:    2.375% paying .98 points,     2.625% paying 0 points,     3.125%- $0 costs

30 year fixed High Balance Loan:    3.5% paying 0 points;     3.625% – $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 HIT 3 WEEK LOW BEFORE ELECTION

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?

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 RISE WITH LESS CONCERN OVER EUROPE’S DEBT CRISIS

MORTGAGE RATES RISE WITH LESS CONCERN OVER EUROPE’S DEBT CRISIS

August 13th, 2012

The MBS market closed last week trading down (-38 bps) and on Monday the MBSmarket closed down ( – 3 bps).    

Mortgage rates rose last week as fewer investors are seeking the safety of US Bonds and Mortgage Markets.  These markets are technically selling negative – pushing rates up from their previous lows.  The general mood on Europe’s monetary situation has improved with optimism that a solution to ease the situation will eventually happen.  This optimism causes less demand for mortgage backed securities, pushing the prices lower and rates higher.

I recommend locking as the MBS market technical indicators are in a bear state, indicating that rates could continue to creep higher. 

My best value of the week:

30 Year Fixed High Balance Loan at 3.75% with 0 points

Below are rates available today paying a point or less:

30 year fixed:  3.5% paying .24 points, 3.625% paying 0 points

20 year fixed:  3.375% paying .69 points, 3.5% paying 0 points

15 year fixed:  2.75% paying .869 points, 3% paying 0 points

5/1 ARM:  2.25% paying .8 points, 2.5% paying 0 points

7/1 ARM:  2.375% paying .85 point, 2.625% paying 0 points

30 year fixed High Balance Loan:  3.625% paying .43 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.  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 WITH LESS CONCERN OVER EUROPE’S DEBT CRISIS

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%