Weekly Rate - Rates Improve Last Week

WEEKLY RATE – Rates Improve Last Week, US Employment Report on Friday

May 2016

Happy May!!

Interest rates moved slightly lower last week with the Mortgage Backed Security (MBS) market trading up 3 of the 5 days and closing up +41 bps.

The FED didn’t raise rates on Wednesday and most don’t expect them to until Fall.  Overall rates are slightly better, but still in the same small range they’ve been in since February.

Friday is the US Non Farm Payroll report which is the biggest indicator of where rates will head in May.

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

TODAY’S INTEREST RATES:

30 year fixed:       3.625% – .43 points (3.71% APR),       3.75% – 0 points (3.78% APR)

20 year fixed:       3.375% – 1 point (3.57% APR),        3.625% – 0 points (3.64% APR)

15 year fixed:        2.875% – .53 points (2.98% APR),        2.99% – 0 points (3.05% APR)

10 year fixed:        2.625% – 1 point (2.83% APR),        2.875% – 0 points (2.92% APR)

5/1 ARM:        2.875% – .78 points (3.03% APR),         3.125% – 0 points (3.17% APR)

7/1 ARM:       3.0% – .97 points (3.2% APR),        3.375% – 0 points (3.41% APR)

30 year fixed FHA:        3.25% – .35 points (4.02% APR),      3.375% – 0 points (4.04%APR)

15 year fixed FHA:        2.75% – 1 point (3.27% APR),      3.125% – 0 points (3.42% APR)

30 year fixed VA:        3.25% – .60 points (3.37% APR),      3.375% – 0 points (3.41% APR)

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 2nd 2016 30 year fixed rates, May 3rd 2016 30 year fixed rates, May 4th 2016 30 year fixed rates, May 5th 2016 30 year fixed rates, May 6th 2016 30 year fixed rates, May 7th 2016 30 year fixed rates, May 8^th 2016 30 year fixed rates.

Weekly Rate – Rates Improve Last Week, US Employment Report on Friday