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MORTGAGE RATES IMPROVE – 30 YEAR FIXED BACK TO 3.875%

MORTGAGE RATES IMPROVE – 30 YEAR FIXED BACK TO 3.875%

April 2nd, 2012

The MBS Market closed last week trading (+ 31 bps.)

Mortgage rates saw some nice improvement this week. This was the improvement I expected last week, but better late than never.

I still maintain rates have seen their lows and will not reach them again unless there is a major economic blow. I see rates staying relatively stable for the foreseeable future.

Below are rates available today paying a point or less:

30 year fixed: 3.875% paying .99 points, 4% paying 0 points
20 year fixed: 3.75% paying 1 point, 3.99% paying 0 points
15 year fixed: 3.125% paying 1 point, 3.375% paying 0 points
5/1 ARM: 2.625% paying .8 points, 3.375% paying 0 points
7/1 ARM: 3% paying .86 points, 3.375% paying 0 points
30 year fixed High Balance Loan: 4.125% paying .8 points, 4.5% paying 0 points
30 year fixed FHA: 3.75% paying 0 points
15 year fixed FHA: 3.25% paying 0 points
30 year fixed VA: 3.75% paying 0 points

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

TODAY’S MORTGAGE RATES – MORTGAGE RATES IMPROVE / 30 YEAR FIXED BACK TO 3.875%

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MORTGAGE PRICING BACK TO LOWEST LEVELS EVER!!

MORTGAGE PRICING BACK TO LOWEST LEVELS EVER!!

December 14, 2011

It has been a great week for interest rates.  The bond market has rallied + 65 bps this week, pushing mortgage rates and pricing back to their lowest levels EVER!!

As I have discussed in previous updates, pricing can get better but rates should not go below the 3.75% to 3.875% range on a 30 year fixed loan.  Thus we are getting better pricing, but I don’t think rates will ever drop below 3.75% without significant costs.  The reason is because investors won’t buy them below this rate.  This is a good article from Mortgage News Daily on the current rate market: 

http://www.mortgagenewsdaily.com/consumer_rates/239687.aspx

I still recommend locking at this point.  Pricing usually only stays this low for a day or two before they move back up.

Below are rates available today paying a point or less:

30 year fixed: 3.75% paying 1 point, 4% paying 0 points

20 year fixed: 3.75% paying .567 points, 3.875% paying 0 points

15 year fixed: 3.25% paying .262 points, 3.375% paying 0 points

5/1 ARM: 2.5% paying .947 points; 2.875% paying 0 points

7/1 ARM: 2.875% paying .619 points, 3.125% paying 0 points

30 year fixed High Balance Loan: 4% paying .889 points, 4.25% paying 0 points

30 year fixed FHA: 3.75% paying 0 points

15 year fixed FHA: 3.25% paying 0 points

30 year fixed VA: 3.75% paying 0 points

 

Today’s Mortgage Interest Rates.  Current Mortgage Rates and APRs for refinancing and purchasing in Arizona, California, and Colorado.  Mortgage Rates Sheets for fixed mortgages, ARM mortgages, Variable Mortgages, Interest Only Mortgages, HARP mortgages, DU Refi Plus Mortgages, Freddie Mac Open Access Mortgages, Freddie Mac Foreclosure Relief Mortgage, VA mortgages, VA Interest Rate Reduction Loans, FHA mortgages, FHA streamline mortgages, Conforming mortgages, Conventional Mortgages, High Balance Mortgages, Fannie Mae mortgages, Freddie Mac Mortgages,  and Jumbo Mortgages.

December 2011

Mortgage Pricing Back to lowest levels ever!!

MORTGAGE RATES IMPROVE AGAIN

MORTGAGE RATES IMPROVE:

November 7th, 2011

The bond market closed last week selling +116 bps up, pushing mortgage pricing and rates down for the second consecutive week. Even though October was a great month for stocks and a bad month for interest rates, the past couple weeks have seen rates improve. The US economy continues to show signs of improvement, but the weight on the market is the continuing European debt crisis. Many investors are still seeking the security of US treasuries, which is helping keep interest rates low at the present time.

The FED met last week and is taking a wait and see approach. They are not taking action at the present time and letting the market takes it’s course.

Currently rates are very close to the historic lows we saw in August 2011. This week is shaping up to be a relatively quiet week with a lack of significant financial data coming into the market. Of course with the happenings in Europe, things can change very quickly if new information comes out to stir up the market.

I am really encouraging borrowers to seriously look at ARM loans right now. 5/1 and 7/1 ARMs are pricing very good right now, and if you plan on selling in 5 or 7 years, these are great products that allow you to get the best rate/payment available on the market.

Below are rates available paying a point or less:

30 year fixed: 4% paying .83 points, 4.25% paying 0 points

20 year fixed: 3.75% paying 1 point, 4% paying 0 points

15 year fixed: 3.375% paying .63 points, 3.625% paying 0 points

5/1 ARM: 2.5% paying .78 points; 2.75% paying 0 points

7/1 ARM: 2.875% paying .69 points, 3.125% paying 0 points

30 year fixed High Balance Loan: 4.375% paying .75 points, 4.75% paying 0 points

30 year fixed FHA: 3.75% paying .54 points, 3.99% paying 0 points

15 year fixed FHA: 3.375% paying .66 points, 3.625% paying 0 points

30 year fixed VA: 3.75% paying 0 points

Today’s Mortgage Interest Rates.  Current Mortgage Rates and APRs for refinancing and purchasing in Arizona, California, and Colorado.  Mortgage Rates Sheets for fixed mortgages, ARM mortgages, Variable Mortgages, Interest Only Mortgages, HARP mortgages, DU Refi Plus Mortgages, Freddie Mac Open Access Mortgages, Freddie Mac Foreclosure Relief Mortgage, VA mortgages, VA Interest Rate Reduction Loans, FHA mortgages, FHA streamline mortgages, Conforming mortgages, Conventional Mortgages, High Balance Mortgages, Fannie Mae mortgages, Freddie Mac Mortgages,  and Jumbo Mortgages.

Mortgage Rates Improve Again – November 7th, 2011

MORTGAGE RATES REMAIN AT RECORD LOWS!!

MORTGAGE RATES REMAIN NEAR ALL TIME LOWS

The bond market closed last week down 94 bps pushing mortgage rates and pricing higher. This move higher was due to a great week on Wall Street where the stock market closed higher every day. There has been some pull back on Monday with the stock market being down, pushing rates back to lower levels. The bond market closed Monday up + 55 bps pushing mortgage rates and pricing back down to the low levels at the beginning of last week.

Below are current rates available paying a point or less.

30 year fixed: 3.875% paying 1 point, 4.125% paying 0 points

20 year fixed: 3.75% paying 0 points

15 year fixed: 3.25% paying 0 points

5/1 ARM: 2.625% paying .6 points, 2.875% paying 0 points

7/1 ARM: 2.875% paying .8 points, 3.25% paying 0 points

30 year fixed FHA: 3.75% paying 0 points

15 year fixed FHA: 3.25% paying 0 points

30 year fixed VA: 3.75% paying 0 points

30 year fixed High Balance Loan: 4.125% paying .85 points, 4.375% paying 0 points

Today’s Mortgage Interest Rates.  Current Mortgage Rates and APRs for refinancing and purchasing in Arizona, California, and Colorado.  Mortgage Rates Sheets for fixed mortgages, ARM mortgages, Variable Mortgages, Interest Only Mortgages, HARP mortgages, VA mortgages, FHA mortgages, Conforming mortgages, Conventional Mortgages, High Balance Mortgages and Jumbo Mortgages.

Mortgage Rates Remain at Record Lows

30 YEAR FIXED RATES UP TO 4.125%

30 YEAR FIXED RATES UP TO 4.125% – MARKET VOLATILITY THE NEW NORM

The market had another wild week – pushing rates up and down each day. The wild swings are becoming the new norm. What this means for you as a consumer is that your mortgage quote could change thousands of dollars in a very short period of time. That is the market that we are in – so as always, if you like the rate/costs – lock it in as soon as you can, as it may not be there for long.

The bond market closed last week 37 basis points higher, which in theory should have improved mortgage rates. Unfortunately it did not on all mortgage products and here is why. Rates go up quicker than they go down. What this means is that lenders are more willing to change their pricing higher when the bond market is down, then they are to offer better rates / pricing when the bond market goes up.

Rates are still great and near all time lows set in the 1950’s. Below is current pricing paying a point or less on a 30 day lock:

30 year fixed: 4.125% paying .83 pt, 4.375% paying 0 pts

20 year fixed: 3.875% paying .6 pts , 4.125% paying 0 pts

15 year fixed: 3.375% paying .45 pt, 3.625% paying 0 pts

5/1 ARM: 2.875% paying .7 pts, 3.125% paying 0 pts

7/1 ARM: for 3% paying 1 pt, 3.375% paying 0 pts

30 year fixed FHA: 3.875% paying .85 pts, 4.125% paying 0 pts

15 year fixed FHA: 3.25% paying .6 pts, 3.5% paying 0 pts

30 year fixed VA: 3.875% paying .7 pts, 4.125% paying 0 pts

30 year fixed High Balance Loan: 4.375% paying .32 pts, 4.5% paying 0 pts – ONLY AVAILABLE FOR A LIMITED TIME FOR VERY HIGH LOAN BALANCES

LAST CHANCE FOR HIGH BALANCE CONFORMING LOAN LIMITS:

The max high balance conforming loan limit has been $729,750 since the ECONOMIC STIMULUS PACKAGE of 2008. This max loan limit will be going down to 625,500 in the highest priced areas, and lower than that in the mid high balance priced areas.

You have to get these started now if you want to close before the deadline of September 30th, 2011.

 

30 YEAR FIXED RATES DROP TO 4% / WILD WEEK ON WALL STREET

30 YEAR FIXED RATES DROP TO 4%

Last week was one of the craziest weeks in the financial markets since 2008. The stock market and interest rate market fluctuated greatly every day, sometimes changing mortgage pricing by thousands of dollars in a few minutes. Things can change fast due to the extreme volatility in the market. The good news is that mortgage rates went down to their lowest levels ever.

Technical indicators show that the bond market is overbought right now – which means interest rates are really lower than they should be. I expect a correction in the near future pushing rates/pricing back up a little bit – maybe to 4.25% on a 30 year fixed product. My advice would be to lock in pricing if you are floating a loan or considering starting a new loan.

Below are current rates and pricing for a well qualified borrower.

30 year fixed: 4% paying 1 pt, 4.25% paying 0 pts

20 year fixed: 3.875% paying .8 pts , 4.125% paying 0 pts

15 year fixed: 3.375% paying 1 pt, 3.75% paying 0 pts

5/1 ARM: 2.875% paying .61 pts, 3.125% paying 0 pts

7/1 ARM: for 3.125% paying .83 pts, 3.5% paying 0 pts

30 year fixed FHA: 3.875% paying .9 pts, 4.25% paying 0 pts

15 year fixed FHA: 3.25% paying .45pts, 3.5% paying 0 pts

30 year fixed VA: 3.875% paying .75 pts, 4.125% paying 0 pts

30 year fixed High Balance Loan: 4.375% paying 0 pts

THE WILD WEEK ON WALL STREET

Below is how the DOW ended each day last week:

Monday: -634.76

Tuesday: +429.62

Wednesday: -519.83

Thursday: +116.63

Friday: +125.71

In a normal market, a large swing is 100 pts one way or the other. This is a market that over reacts to most financial news. Panic can set in very easily. If you look at the stock market – it has ended lower 4 of the past 5 weeks. When stock markets are down, interest rates usually get better.

Typically a stock market can only go one way for so long before you get some sort of correction back the other way. I expect that to happen again here. That is why I recommend taking advantage of the recent rate dip if you are on the market for a home loan. Even though the FED on Tuesday maintained their commitment to keep rates low for at least the next 2 years, they have already used most of their tools to keep rates low. I do expect mortgage interest rates to remain low, but I do not expect 30 year fixed rates to remain as low as 4%.

30 year fixed rates drop to 4% , wild week on Wall Street

MORTGAGE RATES DROP FOR 2nd STRAIGHT WEEK; BUT BE CAUTIOUS – July 18th, 2011

MORTGAGE RATES DROP FOR 2nd STRAIGHT WEEK; BUT BE CAUTIOUS:

The bond market finished last week 31 bps up, pushing mortgage pricing down for the 2nd consecutive week.

A well qualified borrower can get a 30 year fixed at 4.375% for about .6 points, and a 4.5% with 0 points. 15 year fixed rates at 3.75% are now at 0 points, and 20 year fixed rates at 4.25% are at 0 points.

Even though rates and pricing are improving, we are seeing a benchmark rate that the market is not going below. For example, you can get a 4.375% for .6 points, but then if we go down to 4.25%, the pricing goes up to over 2 points. The cost difference is so large that for most loan amounts it makes no sense to pay that much more in fees. The same goes for 15 and 20 year fixed rates. There is a large pricing increase below a 3.75% 15 year fixed and a 4.25% 20 year fixed.

This will be a pivotal week for the U.S. stock market which means this could be a volatile week for interest rates. 20% of the S&P 500 are reporting earnings and 50% of the DOW Jones are reporting earnings this week.

Many experts believe that corporate earnings will be quite good, but many investors are uneasy about the debt ceiling negotiations in Washington. If the debt ceiling gets resolved and corporate earnings are positive, look for the stock market to shoot up, which will usually cause rates to rise.

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