No APpraisal refinance

WEEKLY RATE – Interest Rates Reverse Course and Improve

WEEKLY RATE – Interest Rates Reverse Course and Improve

After moving up much of the prior week and a half, mortgage interest rates found some positive momentum, improving 5 of the last 7 days.

The Mortgage Backed Security (MBS) market closed last week up + 34 bps and is trading this week up + 39 bps.  The bond markets trading up is a positive for interest rates.

Most investor eyes this week are on the announcement by the European Central Bank on Thursday.  The main topic of interest is how far away the Bank is from tapering it’s balance sheet.  I expect rate pricing to moderately improve before the announcement but the actual announcement is a high risk event.

Even if the announcement is seen as a positive for interest rates, I don’t see rates moving a ton lower than current levels without a major stock market correction or an unforeseen event that moves markets.  That being said, most indicators are that the stock market is over valued at the moment so a correction is not out of the question.

As always, have an amazing week and we’re always available if you need help with a new home loan purchase or refinance. 

TEAMGREEN@FAIRWAYMC.COM

Jenn Patel / Senior Loan Officer:  480-818-3769

Reggie Green / Branch Manager:  480-206-5577

For a no obligation mortgage quote, please answer questions on right or go to:

 

 

 

 

 

 

To apply for a refinance or home purchase loan, please call me or go to:

 

 

 

 

 

 

 

Fairway is a top 10 retail lender in the country based on funded volume.  I am a top 1% mortgage originator in the country with 13 years of experience.

My team treats every transaction as an audition to earn your business for the rest of your life. 

Below are today’s interest rates.  Have a great week!!

TODAY’S INTEREST RATES:

30 year fixed:       3.99% – .86 points (4.16% APR),       4.25% – 0 points (4.28% APR),    4.375% – $0 costs (4.375% APR)

20 year fixed:       3.875% – .53 points (3.98% APR),     3.99% – 0 points (4.1% APR),  4.25% – $0 costs (4.25% APR)

15 year fixed:        3.25% –  1 point (3.45% APR),        3.625% – 0 points (3.767% APR),     3.99% – $0 costs (3.99% APR)

5/1 ARM:        3.375% – 1 point (3.57% APR),      3.875% – 0 points (3.99% APR)    

30 year fixed FHA:        3.875% – .9 points (4.75% APR),      4.25% – 0 points (4.95% APR),     4.5% – $0 costs (outside of FHA Fee) (5.2% APR)

15 year fixed FHA:        3.625% – 1 point (4.125% APR),      4.0% – 0 points (4.3% APR),    

30 year fixed VA:        3.875% – .9 points (4.05% APR),     4.25% – 0 points (4.29% APR),     4.5% – $0 costs (4.5% APR)

30 year Fixed Jumbo:     3.875% – 1 point (4.07% APR),      4.125% – 0 points (4.18% APR),        

7/1 ARM Jumbo:        3.125% – .99 points (3.32% APR),      3.5% – 0 points (3.55% APR)

Reggie Green, Team Green, and Fairway Independent Mortgage in Scottsdale, Arizona, McCormick Ranch, are dedicated to providing all the best mortgage products and customer service to assist you in your home purchase or refinance in Arizona, California, Colorado, Washington, Georgia, Michigan and Virginia.  Below are the products and Mortgage Rate Sheets we offer for fixed mortgages, ARM mortgages, Variable Mortgages, Interest Only Mortgages, HARP mortgages, HARP 2.0 mortgages, HARP 3.0 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.  Fairway Independent Mortgage Corporation.  Team Green.  Reggie Green.  FairwayAZ, Fairway McCormick Ranch, Fairway Mortgage.  July 19th  2017 30 year fixed rates, July 20th 2017 30 year fixed rates, July 21st 2017 30 year fixed rates, July 22nd 2017 30 year fixed rates, July 23rd 2017 30 year fixed rates, July 24th  2017 30 year fixed rates, July 25th 2017 30 year fixed rates, July 26th 2017 30 year fixed rates.

WEEKLY RATE – Interest Rates Reverse Course and Improve

WEEKLY RATE – Interest Rates Rise in Anticipation of FED Raising Rates on Wednesday

WEEKLY RATE – Interest Rates Rise in Anticipation of FED raising rates on Wednesday

After hitting 7 month lows the previous week, mortgage interest rate pricing has slowing increased in anticipation of the Federal Reserve Board raising the Federal Funds rate .25% on Wednesday, June 14th.

The economy has slowly been improving with incremental job growth and another drop in the unemployment rate. Inflation has also stabilized.

The Mortgage Backed Security Market (MBS) closed last week trading down – 20 bps and has started this week trading down -17 bps. Pushing interest rates off their lows but still very good with the ability for a well qualified borrower to get a 30 year fixed rate in the 3%’s with less than a point.

Here at Fairway, we have a lot of unconventional products that may fit your needs if you don’t qualify in the agency box.

Some of the popular unconventional products we offer are:

-Early Access programs that allow you to lend with lower seasoning periods after a Bankruptcy, Foreclose, or Short Sale than Conventional, FHA, and VA.

-High Debt to income ratio non conventional products

-Non Warrantable condo loans

-Down payment assistance products – buy a new home without a down payment

As always, have an amazing week and I’m always available if you need help with a new home loan purchase or refinance.

For a no obligation mortgage quote, please answer questions on the right or click below:

 

 

 

 

 

 

WWW.FREEMORTGAGEQUOTE.BIZ

To apply for a refinance or home purchase loan, please call me or click below:


 

 

 

 

 

https://0414113733.mortgage-application.net/WebApp/Start.aspx

I am a top 1% mortgage originator in the country with 13 years of experience.

My team treats every transaction as an audition to earn your business for the rest of your life.

Our customers always come first and we will do everything in our power to make sure you have a great product and a great mortgage experience. 

Below are today’s interest rates.  Have a great week!!

TODAY’S INTEREST RATES:

30 year fixed:       3.99% – .66 points (4.122% APR),       4.125% – 0 points (4.18% APR),   4.375% – $0 costs (4.375% APR)

20 year fixed:       3.75% – .79 points (3.91% APR),     3.99% – 0 points (4.04% APR), 4.25% – $0 costs (4.25% APR)

15 year fixed:        3.25% –  .9 points (3.45% APR),        3.5% – 0 points (3.56% APR),     3.875% – $0 costs (3.875% APR)

5/1 ARM:        3.375% – .97 points (3.56% APR),     3.875% – 0 points (3.91% APR)    

30 year fixed FHA:        3.75% – 1 point (4.625% APR),     4.0% – 0 points (4.7% APR),     4.375% – $0 costs (outside of FHA Fee) (5.07% APR)

15 year fixed FHA:        3.5% – .98 points (4.0% APR),     3.875% – 0 points (4.17% APR),     4.125% – $0 costs (outside of FHA Fee) (4.42% APR)

30 year fixed VA:        3.75% – .95 points (3.95% APR),     4.0% – 0 points (4.07% APR),     4.25% – $0 costs (4.25% APR)

30 year Fixed Jumbo:     3.875% – .99 points (4.07% APR),     4.125% – 0 points (4.17% APR),        

7/1 ARM Jumbo:        3.0% – .94 points (3.19% APR),     3.375% – 0 points (3.41% APR)


WEEKLY RATE – Interest Rates Rise in Anticipation of FED Raising Rates on Wednesday

 

WEEKLY RATE – Rates Match Lowest Rates Ever, Then Move Up a Bit

WEEKLY RATE – Rates Match Lowest Rates Ever, Then Move Up a Bit

July 2016

Brexit caused the stock market to go way down and interest rates to improve dramatically with investors selling stocks and seeking the safety of bonds.

As is often the case, the market over reacted and the stock market eventually rebounded.  Just today the DOW hit it’s highest closing ever. 

Rates matched the lowest rates I’ve ever seen on Tuesday of last week, but after that, they have moved up some.  Rates are still great but not quite at the lowest levels ever.

The Mortgage Backed Security (MBS) market closed last week trading up + 39 bps but this week is trading down -31 bps.

I still recommend locking as I think rates could continue to slowly move up.

For a free email mortgage quote, please answer questions on the right or go to:

WWW.FREEMORTGAGEQUOTE.BIZ

Below are today’s interest rates.  Have a great week!!

TODAY’S INTEREST RATES:

30 year fixed:       3.375% – .86 points (3.53% APR),       3.625% – 0 points (3.63% APR)

20 year fixed:       3.25% – .57 points (3.36% APR),        3.375% – 0 points (3.39% APR)

15 year fixed:        2.625% –  1 point (2.82% APR),        2.875% – 0 points (2.91% APR)

10 year fixed:        2.5% – 1 point (2.7% APR),        2.75% – 0 points (2.79% APR)

5/1 ARM:        2.875% – .93 points (3.08% APR),         3.375% – 0 points (3.4% APR)

7/1 ARM:       3.0% – .9 points (3.19% APR),        3.375% – 0 points (3.41% APR)

30 year fixed FHA:        3.0% – 1 pt (3.9% APR),     3.25% – 0 points (3.95% APR)

15 year fixed FHA:        2.75% – .4 points (3.15% APR),      2.875% – 0 points (3.17% APR)

30 year fixed VA:        3.125% – .95 pts (3.375% APR),     3.25% – 0 points (3.3% APR)
Today's Interest Rates - July 12th 2016

Today’s Mortgage Interest Rates.  Current Mortgage Interest Rates and APRs for refinancing and purchasing in Arizona, California, Colorado, Washington, and Virginia.  Arizona Home Loans, California Home Loans, Colorado Home Loans, Washington Home loans, Virginia Home Loans.  Arizona refinance, California refinance, Colorado refinance.  Scottsdale, Arizona Mortgage Banker in McCormick Ranch.  McCormick Ranch Loan Officer.  Mortgage Rate Sheets for fixed mortgages, ARM mortgages, Variable Mortgages, Interest Only Mortgages, HARP mortgages, HARP 2.0 mortgages, HARP 3.0 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.  July 12th 2016 30 year fixed rates, July 13th 2016 30 year fixed rates, July 14th 2016 30 year fixed rates, July 15th 2016 30 year fixed rates, July 16th 2016 30 year fixed rates, July 17th 2016 30 year fixed rates, July 18th 2016 30 year fixed rates.

Rates Match Lowest Rates Ever, Then Move Up A Bit

WEEKLY RATE – Rates Continue in Holding Pattern

WEEKLY RATE – Rates Continue in Holding Pattern

May 2016

Interest rates continued to be “Steady Eddie” last week.

The Mortgage Backed Security (MBS) market closed the week trading up + 16 bps. This is the second week in a row where the MBS market hasn’t had much movement – keeping rates in the same narrow range.

Oil prices moving higher have put some pressure on interest rates to rise but the 25 day MBS average has provided a safety net and continues to help the MBS from a large movement down.

For a free email mortgage quote, please answer questions on the right or go to:

WWW.FREEMORTGAGEQUOTE.BIZ

Below are today’s interest rates. Have a great week!!

TODAY’S INTEREST RATES:

30 year fixed:       3.5% – .85 points (3.67% APR),       3.75% – 0 points (3.78% APR)

20 year fixed:       3.375% – .56 points (3.47% APR),        3.5% – 0 points (3.55% APR)

15 year fixed:       2.75% – .77 points (2.91% APR),        2.99% – 0 points (3.02% APR)

10 year fixed:        2.625% – .74 points (2.77% APR),        2.875% – 0 points (2.9% APR)

5/1 ARM:       2.875% – .78 points (3.03% APR),        3.25% – 0 points (3.29% APR)

7/1 ARM:         3.0% – .85 points (3.17% APR),         3.25% – 0 points (3.29% APR)

30 year fixed FHA:         3.25% – 0 points (3.95% APR)

15 year fixed FHA:         2.75% – .61 points (3.17% APR),         3.0% – 0 points (3.3% APR)

30 year fixed VA:         3.25% – .37 points (3.32% APR),         3.375% – 0 points (3.4% APR)

Today's Interest Rates - May 17th 2016

Today’s Mortgage Interest Rates. Current Mortgage Interest Rates and APRs for refinancing and purchasing in Arizona, California, Colorado, Washington, and Virginia. Arizona Home Loans, California Home Loans, Colorado Home Loans, Washington Home loans, Virginia Home Loans. Arizona refinance, California refinance, Colorado refinance. Scottsdale, Arizona Mortgage Banker in McCormick Ranch. McCormick Ranch Loan Officer. Mortgage Rate Sheets for fixed mortgages, ARM mortgages, Variable Mortgages, Interest Only Mortgages, HARP mortgages, HARP 2.0 mortgages, HARP 3.0 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. May 17th 2016 30 year fixed rates, May 18th 2016 30 year fixed rates, May 19th 2016 30 year fixed rates, May 20th 2016 30 year fixed rates, May 21st 2016 30 year fixed rates, May 22nd 2016 30 year fixed rates, May 23rd 2016 30 year fixed rates.

Weekly Rate – Rates Continue in Holding Pattern

Rates Improve after Employment report , The Return of the No Appraisal Refinance

RATES IMPROVE AFTER EMPLOYMENT REPORT

November 10th, 2014

Interest rates improved to 1.5 week lows after October’s employment report was released on Friday. Non Farm Payroll jobs increased 214,000 in October but were lower than expectations of 235,000 plus. The Mortgage Backed Security (MBS) market closed up + 46 bps on Friday alone – taking back the losses from earlier in the week and closing the week positive + 25 bps.

On Monday the bond market pulled back taking some of the gains from Friday – closing down -31 bps on the Day. The bond Market is closed for Veterans day. Thank you to all the Veterans out there that have served our country.

Interest rates are very similar to where they started last week. Retail sales will be the biggest report of the week on Friday.

For a free email mortgage quote, please answer questions on the right or go to http://www.freemortgagequote.biz

Below are today’s interest rates. Have a great week!!

THE RETURN OF THE NO APPRAISAL REFINANCE

With Fannie Mae’s new version of their underwriting system DU – mortgage bankers and their clients are seeing a welcome change in the return of the PIW

PIW stands for Property Inspection Waiver.

When running a Fannie Mae Approval – sometimes Fannie Mae’s system grants a PIW which allows us to complete the loan without getting an actual appraisal.  These No appraisal refinances are not for upside down homes, lower credit borrowers, cash out loans, etc.  They are typically granted when there is a decent amount of equity based on average prices in the area and they are usually granted for higher credit score borrowers.

The purpose is to allow someone that has equity and great credit to get a loan without having to physically get an appraisal. 

This is a welcome return – as it allows well qualified customers to complete a refinance without an out pocket expense and we can usually close the loan very quickly.

BEST VALUE OF THE WEEK:

30 Year Fixed at 4.125% paying 0 points

5/1 ARM at 3.125% paying 0 points

TODAY’S INTEREST RATES:

30 year fixed:       4% – .25 points (4.05% APR),        4.125% – 0 points (4.15% APR)

20 year fixed:       3.625% – 1 points (3.72% APR),        3.875% – 0 points (3.78% APR)

15 year fixed:       3.125% – .625 points (3.24% APR),        3.375% – 0 points (3.38% APR)

10 year fixed:       2.875% – .875 points (3.0% APR),        3.125% – 0 points (3.13% APR)

5/1 ARM:       2.875% – .75 points (3.025% APR),        3.125% – 0 points (3.128% APR)

7/1 ARM:       3.125% – .875 points (3.28% APR),        3.375% – 0 points (3.39% APR)

30 year fixed FHA:        3.5% – .375 points (4.58% APR),         3.625% – 0 points (4.625% APR)

15 year fixed FHA:        2.875% – 1 point (3.375% APR),        3.125% – 0 points (3.425% APR)

30 year fixed VA:        3.5% – .625 points (3.62% APR),        3.75% – 0 points (3.78% APR)

Today's Interest Rates - November 10th, 2014

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. McCormick Ranch Loan Officer. Mortgage Rate Sheets for fixed mortgages, ARM mortgages, Variable Mortgages, Interest Only Mortgages, HARP mortgages, HARP 2.0 mortgages, HARP 3.0 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. November 10th 2014 30 year fixed rates, November 11th2014 30 year fixed rates, November 12th 2014 30 year fixed rates, November 13th 2014 30 year fixed rates, November 14th 2014 30 year fixed rates, November 15th 2014 30 year fixed rates, November 16th 2014 30 year fixed rates.

Rates Improve after Employment report – but then pull back

INTEREST RATES CONTINUE HOT STREAK – 30 YEAR FIXED DOWN TO 4.125%

INTEREST RATES CONTINUE HOT STREAK   –   30 YEAR FIXED DOWN TO 4.125%

September 30th, 2013

Interest rates continued their hot streak since the FED decided not to taper a week and a half ago.  Interest rates improved 4 of the 5 days last week and interest rates are now at their lowest levels since June.

30 Year Fixed dropped to 4.125%, 20 year fixed to 4% and 15 year fixed to 3.25%.

sun happy

Now is a really good time to take advantage of the pricing drop as we don’t know how long this will last.  This will be a very volatile week with the Government shutdown looming and also the September employment report on Friday.

There is a lot of uncertainty coming our way.

Also just a reminder – FHA has reduced the waiting period to 1 year after a short sale, purchase and bankruptcy to qualify for a new loan.  Please contact me if you are 1 year out of one of these situations and would like to look into buying again.

Make it a great week!!

BEST VALUE OF THE WEEK:

30 Year Fixed at 4.375% paying 0 points

20 Year Fixed at 4.25% with $0 costs

15 Year Fixed at 3.375% paying 0 points

TODAY’S RATES:

30 year fixed:     4.25% – 1point,     4.375% – 0 points,     4.5% – $0 costs

20 year fixed:   4% – .71 points,     4.125% – 0 points,     4.25%  – $0 costs

15 year fixed:   3.25% – .77 points,     3.375% – 0 points,     3.625% – $0 costs

10 year fixed:   3% – .47 points,     3.125% – 0 points,     3.5% – $0 costs

5/1 ARM:   2.75% – .87 points,     3.125% – 0 points,     3.375% – $0 costs

7/1 ARM:    3.25% – .99 points,     3.625% – 0 points,     3.875% – $0 costs

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

15 year fixed FHA:    3.25% – .28 points,     3.375% – 0 points,     3.625% – $0 costs

30 year fixed VA:     3.75% – .22 points,    3.875% – 0 points,     4.125% – $0 costs

Today's Interest Rates - September 30th, 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.  September 30th interest rates, October 1st interest rates, October 2nd interest rates, October 3rd interest rates, October 4th interest rates, October 5th interest rates, October 6th interest rates.

INTEREST CONTINUE HOT STREAK   –   30 YEAR FIXED DOWN TO 4.125%

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

MERRY CHRISTMAS – 30 YEAR FIXED RATES REMAIN AT 3.375%

MERRY CHRISTMAS  –  30 YEAR FIXED RATES REMAIN AT 3.375%

December 26th, 2012

I hope everyone had a Merry Christmas!!

Interest rates did not change much over the past week.  The mortgage backed security market closed last week trading down (-3 bps). This week the MBS market is trading up (+6 bps). 

All eyes remain on the fiscal cliff negotiations.  We are getting down to the deadline and the sides still appear to be very far apart.  Congress will reconvene on Thursday and the President will be back from Hawaii on Thursday.

Some insiders still believe a deal will get done, while others are more pessimistic.  Some think that going over the cliff will cause serious economic repercussions, some don’t.  So you are seeing conflicting points of view on all angles of the fiscal cliff.

Going over the fiscal cliff will cause taxes to go up for all Americans, but many believe a tax deal will get done before the new tables are released even if a Fiscal Cliff deal does not get done.  The market is most concerned with the tax rates, as more taxes equals less disposable income to spend on goods and services.   Unfortunately, it appears likely that the issue of deficit reduction and spending cuts will get kicked down the road. 

My personal belief is:

If the Fiscal Cliff or Tax deal get done, rates will go up slightly.

If they don’t, rates will go down slightly.

In other news, the Senate will be introducing bill S3678 this week.  This bill will be voted on before the end of the year.  If it passes, FHA will raise Mortgage insurance premiums again.  The rumored changes are:

FHA raising monthly mortgage insurance premiums .1%

FHA monthly mortgage insurance premiums to continue for life  

If you are planning to start a new FHA loan, or streamline your existing FHA loan – I wouldn’t wait. 

Have a great week!!

TODAY’S RATES:

30 year fixed:     3.375% paying .40 points,     3.5% paying 0 points,     3.625% – $0 costs

20 year fixed:   3.25% paying .73 points,     3.375% paying 0 points,     3.625%  – $0 costs

15 year fixed:   2.75% paying .26 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 .88 points,     2.75% paying 0 points,     3%- $0 costs

30 year fixed High Balance Loan:    3.5% paying .99 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- 12-26-12

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 Rates remain at 3.375%

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%

TODAY’S INTEREST RATES

TODAY’S INTEREST RATES

November 26th, 2012

I hope everyone had a happy and safe Thanksgiving!!

Interest rates rose last week with the Mortgage Backed Security market trading down (-53 bps).  The stock market has been doing very well recently with optimism that a Fiscal Cliff deal will get done and positive signs from the economy.

I think the stock market is probably overbought a little bit, so I expect some rate improvement this week.  On Monday morning, the MBS market is trading up (+22 bps), so rates should improve from their close on Friday.  I do not expect a huge change in pricing, but I do predict some movement in a positive direction for interest rates.

The Holidays are usually a popular time to refinance.  You always get a 1 month payment deferral on your mortgage, and you get refund from your old escrow account after closing if you impound your taxes and insurance in your payment.  I can still get most loans done today by Christmas.  If you are interested in lowering your payment and getting some extra cash in your pocket for the Holidays, please call me today.

TODAY’S RATES:

30 year fixed:     3.375% paying .43 points,     3.5% paying 0 points,     3.625% – $0 costs

20 year fixed:   3.25% paying .43 points,     3.375% paying 0 points,     3.5%  – $0 costs

15 year fixed:   2.75% paying .46 points,     2.875% paying 0 points,     3.125% – $0 costs

5/1 ARM:   2.125% paying .96 points,     2.5% paying 0 points,     2.75% – $0 costs

7/1 ARM:    2.375% paying .89 points,     2.625% paying 0 points,     2.875%- $0 costs

30 year fixed High Balance Loan:    3.5% paying .61 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

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.

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