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Mortgage Rates
30 Yr FRM 4.83% -0.08%
15 Yr FRM 4.32% -0.04%
1 Yr ARM 4.35% -0.11%
5/1 Yr ARM 4.25% -0.04%
30 YR Tres 4.30% 0.01%
Fed Prime 3.25% 0.00%

Recent Polls

Do you expect the home buyer tax credit extension to contribute to a noticeable pick up in loan production?

Created By: Adam Quinones
  • Yes, I anticipate an increase in activity (26.6%)
  • Only a modest upturn in production (44.5%)
  • Nope. 2009 demand stole from 2010 demand (28.9%)
  • Floating is Risky Ahead of Major Market Events

    Reports from fellow mortgage professionals indicate lender rate sheets to be similar to yesterday afternoon’s. This keeps the par 30 year conventional rate mortgage in the 4.75% to 5.00% range for well qualified consumers. To secure the par rate you must have a FICO credit score of 740 or higher, a loan to value at 80% or less and pay all closing costs including an estimated one point loan origination/discount/broker fee. If you are looking to access home equity, you should expect either a higher interest rate or additional fees. Despite MBS prices holding near the top of the recent range, I will continue to caution floating in the near term. We have some high impacting events approaching, the Treasury Refunding announcement tomorrow morning, the FOMC statement tomorrow afternoon, and the Employment Situation Report on Friday. These events have the potential to move rates considerably. Always remember, rates move higher faster than they move lower. Consumers closing in the near term have more to risk than to gain by floating. ...
  • Strong Earnings Pressure Mortgage Rates Higher

    Reports from fellow mortgage professionals indicate that mortgage rates have moved higher into the 4.875% to 5.125% range for well qualified consumers. To secure a par interest rate you must have a FICO credit score of 740 or higher, a loan to value at 80% or less and pay all closing costs including an estimated one point loan origination/discount/broker fee. If you are seeking a 15 year term you should expect a par rate in the 4.375% to 4.625% range with similar qualifications as the 30 year term. If you are planning to access home equity, you should expect a higher rate of .125% to .25% or additional closing costs. ...
  • Mortgage Rates Steady Ahead of FOMC Statement

    Mortgage rates were mostly unchanged yesterday as the economic calendar was empty and the market settled in for another FOMC statement. Prices of mortgage-backed securities did manage to move marginally higher following a successful auction of 2 year Treasury notes, which saw the highest demand in over a year. The small price appreciations led to scattered reprices for the better as secondary market gains held into the close, however it should be noted that reprices were not significant enough to lower the par conventional 30 yr mortgage rate. ...
  • Mortgage Rates Slighty Higher As Stocks Hold Gains

    After holding steady near the top of the current trading range, mortgage backed securities came under selling pressure yesterday afternoon as stocks rallied off intraday price lows. Several lenders repriced for the worse as MBS losses held into to the close. Despite the price decline of MBS and maringal loss of rebate on rate sheets, par mortgage rates are still holding their recent range between 4.875 and 5.125. To remind readers, the price and yield of MBS and treasuries are inversely related. As the price moves higher, the yield or rate moves lower and vice versa. ...
  • What Will Move Mortgage Rates This Week?

    It was an up and down week for mortgage backed securities last week. Despite better than expected economic data, MBS didn’t give up too much ground and mortgage rates did manage to dip to 4.75%. However by week’s end, rates had risen to 4.875% for the best qualified consumers. To remind readers, mortgage rates are determined by the trading of mortgage backed securities. As the price increases, lenders can generally pass along lower mortgage rates. As prices fall lenders offer higher mortgage rates which returns a greater yield to the end buyer of the MBS....
  • Mortgage Rates Slightly Lower After FOMC

    We had quite a volatile day yesterday. MBS prices moved to the lows of the day immediately following the 10 year treasury auction and then even lower after the Fed statement an hour later. This forced many lenders to reprice for the worse, pushing mortgage rates higher. However after market participants had time to review the Fed statement MBS prices moved higher. Since the gains occurred late in the day, lenders did not pass along the improvements which has allowed for improved rate sheets this morning. ...