WEEKLY RATE - RATES IMPROVE AFTER WEAK JOBS REPORT

WEEKLY RATE – Rates Improve After Weak Job Report

June 2016

Interest rates improved last week, culminating at their lowest levels on Friday afternoon after a much weaker jobs report than expected was released.

On the week, the Mortgage Backed Security (MBS) market closed up + 67 bps, with most of that positive gain (+43 bps) taking place after the jobs report.

The job creation numbers were much lower than expected, causing some analysts to change their opinion on the FED again raising the Federal Funds rate.

Even with this improvement, mortgage interest rates have traded in a pretty narrow margin for months.  Friday’s improvement push 30 year fixed rates backed down to 3.5% (3.65% APR) for a portion of a point.

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

TODAY’S INTEREST RATES:

30 year fixed:       3.5% – .75 point (3.65% APR),       3.625% – 0 points (3.66% APR)

20 year fixed:       3.25% – 1 point (3.45% APR),        3.5% – 0 points (3.53% APR)

15 year fixed:        2.75% – .87 points (2.92% APR),        2.99% – 0 points (3.04% APR)

10 year fixed:        2.625% – .89 points (2.81% APR),        2.875% – 0 points (2.91% APR)

5/1 ARM:        2.875% – .7 points (3.01% APR),         3.125% – 0 points (3.15% APR)

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

30 year fixed FHA:        3.25% – .13 points (3.97% APR),     3.375% – 0 points (4.075% APR)

15 year fixed FHA:        2.75% – .7 points (3.19% APR),      3.0% – 0 points (3.3% APR)

30 year fixed VA:        3.25% – .38 points (3.32% APR),      3.375% – 0 points (3.4% 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.  June 7^th 2016 30 year fixed rates, June 8th 2016 30 year fixed rates, June 9^th 2016 30 year fixed rates, June 10th 2016 30 year fixed rates, June 11th 2016 30 year fixed rates, June 12th 2016 30 year fixed rates, June 13th 2016 30 year fixed rates.

WEEKLY RATE – Rates Improve After Week Jobs Report