TODAY'S MORTGAGE RATES / MORTGAGE RATES DROP TO LOWEST LEVELS OF THE YEAR:
The US debt deal looks to be completed soon. Most of us expected this to get done in the 11th hour, but when you don't know, the markets get nervous. Even though the deal is done, the stock market is down 100 points on Monday morning, pushing the bond markets up and mortgage rates lower.
Last week was a see-saw all week. Luckily we had a huge day on Friday with the bond market closing 81 bps up, pushing mortgage rates and pricing to the lowest levels of the year. Last week, the bond market closed 91 bps up. Right now is a great time to lock a loan. Below is the approximate pricing for a well qualified borrower on a variety of loan products.
30 year fixed: 4.375% paying .1 pts, 4.49% paying 0 pts
20 year fixed: 4.25% paying 0 pts , pricing rises over 1 pt below 4.25%
15 year fixed: 3.5% paying .9 pts, 3.75% paying 0 pts
5/1 ARM:2.75% paying .7 pts, 3% paying 0 pts
7/1 ARM: for 3.125% paying .8 pts, 3.375% paying 0 pts
30 year fixed FHA: 4.25% paying 0 points, pricing rises over 1 pt below 4.25%
15 year fixed FHA: 3.375% paying . 6 pts, 3.625% paying 0 pts
30 year fixed VA: 4.25% paying 0 points, pricing rises over 1 pt below 4.25%
30 year fixed High Balance Loan: 4.375% paying .8 pts, 4.625% paying 0 pts
Licensed in Arizona, California, and Colorado.
Today's Mortgage Rates - Drop to lowest levels of 2011
Comments (0)Subscribe to CommentsComment