Tag: mortgage rate sheet

MORTGAGE RATES MOVING UP FAST – MOUNTING SENTIMENT THAT FED WILL TAPER IN SEPTEMBER

MORTGAGE RATES MOVING UP FAST  –  MOUNTING SENTIMENT THAT FED WILL TAPER IN SEPTEMBER

August 19th, 2013

It’s been a bad week for mortgage interest rates and investment markets in general.

There is rising sentiment among traders that the FED will taper their bond purchasing program in September.  This is causing the mortgage backed security market and the stock market to drop and interest rates to rise.  The MBS market closed last week trading down -183 bps, and Monday trading down -58 bps.

Interest rates will likely to continue to rise.  The easiest way to describe this is investors aren’t going to continue to buy a mortgage security investment at a higher price, when they know the price will drop as soon as the FED tapers.  So the interest rate market doesn’t have much hope for improvement because this will be looming over it’s head until the taper happens or a complete change of direction is announced.

The FOMC Minutes will be released on Wednesday and this will likely give investors more guidance on when the FED may taper. 

The suggestion here is to lock, lock, lock if you haven’t already missed the boat.  Rates don’t have much room to go down, but lots of room to go up.

Make it a great week!!   

BEST VALUE OF THE WEEK:               

10 Year Fixed at 3.75% with 0 points

TODAY’S MORTGAGE RATES:

30 year fixed:     4.625% – .79 points,     4.75% – 0 points,     5% – $0 costs

20 year fixed:   4.5% – .99 points,     4.75% – 0 points,     4.875%  – $0 costs

15 year fixed:   3.625% – .84 points,     3.875% – 0 points,     4.125% – $0 costs

10 year fixed:   3.5% – .92 points,     3.75% – 0 points,     4% – $0 costs

5/1 ARM:   3.25% – .99 points,     3.875% – 0 points

7/1 ARM:    3.875% – .92 points,     4.5% – .19 points

30 year fixed FHA:    4.25% – 0 points,      4.5% – $0 costs

15 year fixed FHA:    3.625% – .87 points,     3.75% – 0 points,      3.875% – $0 costs

30 year fixed VA:     4.25% – .15 points,     4.375% – 0 points,     4.625% – $0 costs

Today's Interest Rates - August 19th, 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.  Scottsdale, Arizona Mortgage Banker in McCormick Ranch.  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.

MORTGAGE RATES MOVING UP FAST  –  MOUNTING SENTIMENT THAT FED WILL TAPER IN SEPTEMBER

INTEREST RATES IMPROVE FOR 2ND STRAIGHT WEEK:

INTEREST RATES IMPROVE FOR 2ND STRAIGHT WEEK:

July 22nd, 2013

Interest rates improved for the second straight week. The Mortgage Backed Security Market closed up + 81 bps, bringing us back to pre-4th of July level pricing.

On Wednesday, Ben Bernanke testified in front of Congress that the Fed’s tapering of it’s bond purchasing program was not “imminent”, but that the FED was monitoring the economy. When the FED feels the economy is where it needs to be, then the FED will begin to end it’s stimulus.

This helped the markets because many investors felt the FED was planning on slowing down it’s bond purchasing in September. I still believe the FED will slow down the stimulus in September, unless some event pulls back the forecast of the economy.

I expect rates to be relatively calm until the July unemployment report. These employment reports are huge moving forward, and will likely be one of the key determining factors in the FED’s decision to slow down it’s bond purchasing program. The July employment numbers are released next Friday morning.

I am recommending to lock on any improvement in rate pricing.

Make it a great week!!

BEST VALUE OF THE WEEK:

20 Year Fixed at 4.25% with 0 points

TODAY’S RATES:

30 year fixed:      4.25% – 1 point, 4.5% – 0 points, 4.625% – $0 costs

20 year fixed:      4.125% – .43 points, 4.25% – 0 points, 4.5% – $0 costs

15 year fixed:     3.5% – .57 points, 3.625% – 0 points, 4% – $0 costs

5/1 ARM:     2.75%: – .85 points, 3.125% – 0 points

7/1 ARM:     3.125% – .79 points, 3.5% – 0 points

10/1 ARM:     3.875% – .89 points, 4.375% – 0 points

30 year fixed FHA:     3.75% – .62 points, 4% – 0 points, 4.125% – $0 costs

15 year fixed FHA:     3.25% – .63 points, 3.5% – 0 points, 3.75% – $0 costs

30 year fixed VA:     4% – .10 points, 4.125% – 0 points, 4.25% – $0 costs

TR - 7-22-2013

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.

JULY 22ND 2013, INTEREST RATES IMPROVE FOR 2nd STRAIGHT WEEK

INTEREST RATES FINALLY IMPROVE – LOWEST RATES THIS MONTH

INTEREST RATES FINALLY IMPROVE  –  LOWEST RATES THIS MONTH

June 17th, 2013

After 6 straight weeks of interest rates moving higher, interest rates finally showed some improvement last week.  The Mortgage Backed Security market closed the week trading up + 36 bps. 

This is a huge week for interest rates as the Federal Open Market Committee (FOMC) will meet and release a statement on Wednesday followed by a Ben Bernanke press conference.  Ben Bernanke’s last statements caused rates to rise .5% very quickly.  It’s amazing how much power the markets put into any hint of what the FED may do.

There is speculation both ways on what the statement and press conference may reveal.  Some predict that the FED may confirm it will not taper off the bond purchasing program.  I don’t think Bernanke knew his last statement would cause such a panic sell off in the bond markets.  This along with the unemployment rate still being high and the economy not improving as much as the FED would like could cause this response. 

On the other hand there is speculation that the FED will confirm that it will taper off the bond purchasing program, which has been hinted at for some time.

Either way, expect a very volatile rate market after Wednesday.  The news on Wednesday will likely give us direction on where long term interest rates are headed.

Make it a great week!!       

BEST VALUE OF THE WEEK:           

15 Year Fixed at 3.25% – 0 points

TODAY’S RATES:

30 year fixed:     3.875% – .82 points,     4% – 0 points,     4.25% – $0 costs

20 year fixed:   3.625% – .27 points,     3.75% – 0 points,     3.875%  – $0 costs

15 year fixed:   3% – .74 points,     3.25% – 0 points,     3.5% – $0 costs

5/1 ARM:   2.5% – .67 points,     2.75% – 0 points,     3.25% – $0 costs

7/1 ARM:    2.75% – .59 points,     3% – 0 points,     3.375%- $0 costs

10/1 ARM:    3.375% – .86 points,     3.75% – 0 points

30 year fixed FHA:    3.25% – .9 points,     3.5% – 0 points,      3.625% – $0 costs

15 year fixed FHA:    2.75% – .89 points,     3% – 0 points,      3.25% – $0 costs

30 year fixed VA:    3.375% – .66 points,     3.625% paying 0 points,      3.75%- $0 costs

TR - June 17th, 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 FINALLY IMPROVE  –  LOWEST RATES THIS MONTH

INTEREST RATES CONTINUE UPWARD TREND

INTEREST RATES CONTINUE UPWARD TREND

May 19th, 2013

The Mortgage Backed Security market closed last week trading down -59 bps.  Interest rates continued to rapidly move higher after hitting their 2013 lows just over 2 weeks ago. 

The MBS market now has a lower 20 day and 40 day average than it’s 100 day average.  The stock market’s key indexes keep going higher even though economic reports aren’t showing much economic improvement.  Japan’s plan to weaken it’s currency is also working against the US Bond market. 

The simple truth is there is just not a lot of appetite for mortgage backed securities and we could continue to see more sell off with investors cutting their losses. 

Even though fixed rates have moved higher, ARM loans don’t follow the market trends as much as fixed loans.  You can still get a great ARM rate in the low to mid 2%’s if you are comfortable with a rate that is fixed for 5,7, or 10 years.

This week, Ben Bernanke will be testifying at the Joint Economic Committee and the FED minutes will be released on Wednesday.  Both events usually trigger movement in the interest rate markets.  The markets will likely slow down near the end of the week due to Memorial Day weekend.

Have a great Memorial Day and make it a great week!!       

BEST VALUE OF THE WEEK:

5/1 ARM at 2.5% paying 0 points

TODAY’S RATES:

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

20 year fixed:   3.5% paying .34 points,     3.625% paying 0 points,     3.75%  – $0 costs

15 year fixed:   2.625% paying .95 points,     2.875% paying 0 points,     3% – $0 costs

5/1 ARM:   2.25% paying .62 points,     2.5% paying 0 points,     2.75% – $0 costs

7/1 ARM:    2.5% paying .65 points,     2.75% paying 0 points,     3%- $0 costs

30 year fixed High Balance Loan:    3.75% paying .70 points;     4% paying 0 points,     4.25% – $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% paying 0 points,     3.25% – $0 costs

TR - 5-20-2013

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 CONTINUE UPWARD TREND

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

FED MINUTES RELEASE TRIGGERS RISE IN INTEREST RATES – COULD SEE SOME RECOVERY THIS WEEK

FED MINUTES RELEASE TRIGGERS RISE IN INTEREST RATES  –  COULD SEE SOME RECOVERY THIS WEEK

January 7th, 2012

On Thursday of last week – the mortgage backed security market saw one of its biggest sell offs in months with the release of the FED Minutes from the Federal Open Market Committee. 

On Thursday alone, mortgage backed securities dropped  (-69 bps) – pushing rates to their highest levels in months.  Luckily on Friday and Monday, we saw some recovery in the markets, closing up (+ 22 bps) and up (+ 6 bps) respectively. 

The Fed minutes release the discussions of the Federal Open Market Committee in their meetings.  The minutes show that many members of the FED believe that the FED should stop purchasing mortgage backed securities sooner rather than later.  The FED purchasing mortgage backed securities is keeping interest rates lower than they should be in a normal market.  The dissension among multiple FED members regarding the continuation of this policy caused the market to sell off mortgage backed securities pushing rates higher. 

I expect rates to improve some this week as the market overreacted to news that was already known.  Not every member of the FED approves of the FED printing money to keep interest rates artificially low. 

Many consumers have come to take for granted how low rates are.  Rates can go up and they can go up quickly.  If you can lock in a beneficial refinance rate do it – there is no guarantee that rate will be there tomorrow.  Rates go up a lot faster than they go down.

I do expect some modest pull back this week with some rate improvement – but I think the lowest rates are behind us. 

Have a great week!!

TODAY’S RATES:

30 year fixed:     3.375% paying .96 points,     3.625% paying 0 points,     3.75% – $0 costs

20 year fixed:   3.375% paying .62 points,     3.5% paying 0 points,     3.75%  – $0 costs

15 year fixed:   2.75% paying .43 points,     2.875% paying 0 points,     3% – $0 costs

5/1 ARM:   2.25% paying 1 point,     2.625% paying 0 points,     3% – $0 costs

7/1 ARM:    2.5% paying .97 points,     2.75% paying 0 points,     3.125%- $0 costs

30 year fixed High Balance Loan:    3.625% paying .526 points;     3.75% paying 0 points;    4% – $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-1-7-2013

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.

FED MINUTES RELEASE TRIGGERS RISE IN INTEREST RATES  –  COULD SEE SOME RECOVERY THIS WEEK

HOW WILL THE FISCAL CLIFF DEAL AFFECT MORTGAGE RATES?

HOW WILL THE FISCAL CLIFF DEAL AFFECT MORTGAGE RATES?

January 2nd, 2013

Happy New Year!!

On January 1st, Congress finally came to a deal to avoid the “fiscal cliff”.  The deal essentially kicks the main issues down the road, but averts the tax increases for the majority of Americans.

As expected, the markets responded and the stock market surged and mortgage rates went up.  Currently the Mortgage Backed Security market is trading down – 22 bps on the week. 

Fortunately, because the Feds continue to buy and keep demand in place for mortgage backed securities, rates were not hit that hard.  The average 30 year fixed pricing went up .23 pts at any given rate.  Shorter term loans and ARM pricing did not go up as much. 

The Fiscal Cliff deal basically:

1.)     Increases taxes on individuals making 400k per year or more

2.)     Increases taxes on married couples making 450k per year or more

3.)     Increases taxes on dividend and capital gain income.

So one part of the Fiscal Cliff is resolved – the major tax increases that would have affected all Americans. 

The other issue that was kicked down the road was the debt issue.  There is a 2 month period before automatic spending cuts will go into effect for the US treasury.  So the debate on the fiscal cliff is really just beginning, with the US deficit still not addressed. 

Congress will have to come to an agreement on key spending cuts or raise the debt ceiling again.  The markets will likely remain volatile until March 1st, as a deal will likely not happen until the last possible moment.

Rates are very volatile right now and the benefits in locking a loan outweigh the risk and possible pricing improvement that may accompany floating a rate.  Rates are only .125% higher than their all time lows.  I am recommending locking at this point.  If rates drop .25% during the loan process, a rate can be floated down.

Have a great week!!

TODAY’S RATES:

30 year fixed:     3.375% paying .634 points,     3.5% paying 0 points,     3.75% – $0 costs

20 year fixed:   3.25% paying .99 points,     3.5% paying 0 points,     3.625%  – $0 costs

15 year fixed:   2.75% paying .30 points,     2.875% paying 0 points,     2.99% – $0 costs

5/1 ARM:   2.25% paying 1 point,     2.625% paying 0 points,     3% – $0 costs

7/1 ARM:    2.5% paying .99 points,     2.875% paying 0 points,     3.125%- $0 costs

30 year fixed High Balance Loan:    3.5% paying .966 points;     3.75% paying 0 points;    3.875% – $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 - 1-2-2013

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.

HOW WILL THE FISCAL CLIFF DEAL AFFECT MORTGAGE RATES?

INTEREST RATES MOVE HIGHER – 30 YEAR FIXED TO 3.375%

INTEREST RATES MOVE HIGHER – 30 YEAR FIXED TO 3.375%

December 17th, 2012

Interest Rates moved up slightly last week.  The Mortgage Backed Security Market closed the week down (-41 bps). 

The majority of the movement came when the Federal Open Market Committee announced that they were converting Operation Twist to a purchasing plan in line with QE3.  The purchasing allocation does not include mortgage bonds though, which caused pricing to fall and rates to go up. 

This week trading should be light with most traders stopping for Christmas.  Light trading usually translates to high volatility in the market.   

The Fiscal cliff negotiations still dominate the market.  Most traders are keeping close tabs on the negotiations and are prepared to come back in if something is announced.  If we go over the cliff, it will result in 600 Billion in tax increases and spending cuts starting in February, likely hurting our economy in the 1st quarter of 2013.

Have a great week!!

TODAY’S RATES:

30 year fixed:     3.375% paying .38 points,     3.5% paying 0 points,     3.625% – $0 costs

20 year fixed:   3.25% paying .61 points,     3.375% paying 0 points,     3.625%  – $0 costs

15 year fixed:   2.625% paying .96 points,     2.875% paying 0 points,     2.99% – $0 costs

5/1 ARM:   2.25% paying 76 points,     2.5% paying 0 points,     2.75% – $0 costs

7/1 ARM:    2.375% paying 1 point,     2.75% paying 0 points,     3%- $0 costs

30 year fixed High Balance Loan:    3.5% paying .94 points;     3.625% – 0 points;    3.75% – $0 costs

30 year fixed FHA:    3% paying .51 pts;    3.25% – $0 costs

15 year fixed FHA:    2.5% paying .8 points;     2.75% – $0 costs

30 year fixed VA:    3.25% – $0 costs

TR - 12-17-2012

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 MOVE HIGHER – 30 YEAR FIXED TO 3.375%

MORTGAGE RATES INCH HIGHER – 30 YEAR FIXED TO 3.375%

MORTGAGE RATES INCH HIGHER – 30 YEAR FIXED TO 3.375%

October 8th, 2012

Last week the mortgage backed security market told 2 stories. 

The MBS market closed (+ 50 bps) from Monday to Tuesday.  This continued the trend of rates dropping since the FED announced QE3.  But every positive interest rate streak will eventually end and pull back the other way.

From Wednesday to Friday, the MBS market closed down (– 84 bps), finishing the week (– 34 bps). 

The week was capped off with the September unemployment rate dropping from 8.1% to 7.8% with 114,000 new jobs created.  There was a lot of controversy regarding the validity of the report – but either way the MBS market had a mini sell off and closed the week down. 

Mortgage rates are still very low, but a bit higher than their previous lows.  The bond market is closed Monday due to Columbus Day. 

I don’t expect a ton of rate movement next week, but I do think rates may improve a bit, taking back some of the losses of last week.

Keep in mind most news websites/channels report when rates drop but not so much when they rise.  Rates are always fluctuating until a loan is locked.

My best value of the week:

30 Year Fixed at 3.5% paying 0 points

Below are rates available today paying a point or less:

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

20 year fixed:  3.25% paying .79 points, 3.5% paying 0 points

15 year fixed:  2.75% paying .81 points, 3% paying 0 points

5/1 ARM:  2.25% paying .98 points, 2.75% paying 0 points

7/1 ARM  :2.5% paying .77 points, 2.75% paying 0 points

30 year fixed High Balance Loan:  3.5% paying .49 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 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.

Mortgage Rates Inch Higher – 30 Year Fixed to 3.375%

OCTOBER 2012 – RATES RISE SLIGHTLY, STILL NEAR RECORD LOWS

OCTOBER 2012 – RATES RISE SLIGHTLY, STILL NEAR RECORD LOWS

October 1st, 2012            

Happy October!!

The MBS market closed last week trading up (+ 37 bps), and is currently trading (+ 25 bps) on Monday morning.

While mortgage rates should have improved last week- they actually increased slightly.  This is a result of most lenders enacting the Fannie Mae/Freddie Mac guaranteed fee increase for loans delivered to Fannie Mae/Freddie Mac December 1st, 2012 and later.

This week will likely be volatile in the rate markets with Europe still working on plans to save the Euro.  On Friday, the unemployment report comes out.  This will usually push rates one way or the other.  The expectation is that jobs will increase but the unemployment report will stay the same due to potential workers dropping out of the job market.

Now is still a great time to lock in at record low rates.

My best values of the week:

30 Year Fixed at 3.5% paying 0 points

30 Year Fixed High Balance Loan at 3.5% with 0 points

Below are rates available today paying a point or less:

30 year fixed:  3.25% paying .773 point, 3.5% paying 0 points

20 year fixed:  3.25% paying .149 points, 3.375% paying 0 points

15 year fixed:  2.625% paying .74 points, 2.875% paying 0 points

5/1 ARM:  2.125% paying .99 points, 2.5% paying 0 points

7/1 ARM:  2.25% paying .99 points, 2.625% paying 0 points

30 year fixed High Balance Loan:  3.5% 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.

OCTOBER 2012 – RATES RISE SLIGHTLY, STILL NEAR RECORD LOWS