Today’s Mortgage Rates Associated with .07 to 1 Point Origination (at par) – FreeRateUpdate.com
SHEEPSHEAD BAY BROOKLYN, NY — Feb. 19 (FreeRateUpdate.com) – FreeRateUpdate.com research of wholesale lenders’ rate sheets shows 30 year fixed mortgage rates associated with .07 to 1 point in origination (at par) rose to 4.875 percent, from 4.75 yesterday. This rate increase applies to conforming 30 year fixed (standard 30 year fixed) products as well as FHA 30 year fixed loans.
The jumbo 30 year fixed rate, associated with .07 to 1 point origination (at par) remains 5.75. It should be noted that with a low enough LTV (about 60%) consumers can get 5.5% with no buy down at places like Wells Fargo or TheGreatLoan.com (http://www.thegreatloan.com) , a specialty jumbo lender.
Why did mortgage rates go up? Following the Fed Minutes Wednesday, where the Fed said it’s possible they begin selling their MBS portfolio sooner than later, mortgage-backed securities prices began to drop and did so through yesterday afternoon. The overall drop in MBS prices was significant enough to push mortgage rates, which move in the opposite direction, up.
Current Mortgage Rates Associated With 0.7 to 1 Point Origination (at Par):
Conforming 30 year fixed rate – 4.875%
Conforming 15 year fixed rate – 4.25%
Conforming 5/1 ARM rate – 3.875%
PMI and FHA fees make FHA loans more costly despite origination being the same.
FHA 30 year fixed rate – 4.875%
FHA 15 year fixed rate – 4.50%
FHA 5/1 ARM rate – 3.875%
Jumbo 30 year Fixed rate – 5.75% With a low enough LTV (about 60%) 5.5 is obtainable
Jumbo Conforming 30 year fixed rate – 5.125%
Source: http://www.freerateupdate.com/
Author Spotlight : Bruno Mckenzie
Bruno, a former painter, entered the mortgage business during the boom working as a loan officer for a Mortgage Banker based out of Texas. Bruno, a TIC, developed a reputation as a closer in the office starting with his "Walker file". He retired from origination in 07' to study the seconday market.Lock Your Mortgage Rates Today. Current 30 Year Fixed Mortgage Rates on Edge.
SHEEPSHEAD BAY BROOKLYN, NY — Feb. 18 (FreeRateUpdate.com) – Lock your rates! After the Fed Minutes report came on yesterday we saw some big time deterioration in the mortgage rate market. MBS prices sank fast and hard pushing 30 year fixed mortgage rates for conforming and FHA loans to the brink. Today while 30 year fixed mortgage 
rates remain 4.75, any minute that can change. With a slew of economic data out today anything could happen. It’s possible by Saturday we could see mortgage rates at 5%. MBS prices, which drive mortgage rates in the opposite direction, dropped -14/32 yesterday. That’s a pretty big number. I know the gamblers out there will continue to roll the dice. I, the real Bruno Mckenzie, am officially pulling my lock card. I think this was the last we’ll see of 4.75%. Get ready for rates hovering just above 5%.
Looking for the lowest mortgage rates? Search local mortgage rates.
The current 30 year fixed rate for both FHA and conforming mortgages is at 4.75% and rising fast. The current 5/1 ARM rates for FHA and conforming mortgages are at 3.875% and rising.
Jumbo mortgage rates are the only thing down on the week. They’re not directly moved by the same securities effecting conforming and FHA mortgage rates. The jumbo 30 year fixed rate is now at 5.5%.
I’m telling ya’. Get on the phone and call your guy. Lock before it’s too late!
Author Spotlight : Bruno Mckenzie
Bruno, a former painter, entered the mortgage business during the boom working as a loan officer for a Mortgage Banker based out of Texas. Bruno, a TIC, developed a reputation as a closer in the office starting with his "Walker file". He retired from origination in 07' to study the seconday market.Conforming, FHA, Jumbo Mortgage Interest Rates (30 Year Fixed) Not Budging
SHEEPSHEAD BAY, NY — Feb. 16 (FreeRateUpdate.com) – Mortgage rates haven’t been doing a whole lot lately. Despite volatile stock markets, and volatile mortgage-backed securities markets, mortgage rates have been cemented at current levels for weeks. The stock market has done a bit of the same. The Dow, up over 86 points today at 8:13 AM 
PST, has been up and down and overall relatively unchanged since a decline to around 10,000. The much awaited end of the Fed’s MBS purchase program on March 31st is the x factor for mortgage rates. While many analysts say the the program ending will cause a sudden jump of at least 1/2 a percent in 30 year fixed mortgage rates, others say mortgage interest rates could remain the same for quite some time after. A recent announcement by Fannie Mae and Freddie Mac that they’ll purchase a huge sum of bad loans from MBS pools, freeing up cash for investors to possibly purchase more MBS, supports mortgage rates staying low.
Looking for the lowest mortgage rates? Search local mortgage rates.
Headed into the week here’s where mortgage rates stand.
Current Mortgage Rates at Par: Conforming, FHA, and Jumbo -
The current conforming 30 year fixed rate remains 4.75% for both FHA and conforming mortgages. Costs for an FHA loan are considerably higher due to premiums and fees charged by the FHA. The current conforming 15 year fixed rate remains 4.25%, while the FHA 15 year fixed rate remains 4.5%. The current 5/1 ARM rate for both FHA and conforming mortgages is 3.75%.
The current jumbo 30 year fixed rate is still 5.75%.
What’s a Par Rate? Why are Mortgage Interest Rates at Par Important?
FreeRateUpdate.com researches over two dozen wholesale lender’s rate sheets on daily basis and reports mortgage rates at par to the public. A par rate is what a savvy and qualified consumer should receive with a standard 1 point or less in origination on any given day. Par rates are typically at least 1/4 percent below national averages reported by Bankrate.com and Freddie Mac. Less savvy borrowers, or perhaps those simply unaware of the day’s par rates, often lock in rates 1/4 percent higher than what they are well qualified for. The banks make huge profits on this. Par rates, not national averages, are the rates consumers should shoot for.
To display current mortgage rates on your website or blog use our free mortgage rates widget.
Author Spotlight : Bruno Mckenzie
Bruno, a former painter, entered the mortgage business during the boom working as a loan officer for a Mortgage Banker based out of Texas. Bruno, a TIC, developed a reputation as a closer in the office starting with his "Walker file". He retired from origination in 07' to study the seconday market.Today’s Mortgage Rates Unchanged from Mortgage Rates Monday Morning
SHEEPSHEAD BAY, NY — Feb. 12 (FreeRateUpdate.com – Usually I deliver these updates after midnight. Today let’s call it, “coffee after noon”. Doesn’t have much of a ring to it does it? Mortgage rates are cemented at 4.75%, the same as they were on Monday morning, with no chance of going up today following gains in MBS prices this morning. Mortgage-backed securities, which dictate mortgage rates moving them in the opposite direction, are up + 8/32 as of noon eastern time. The Dow Jones Industrial 
Average is down about 80 points in what’s been another volatile session. Typically during these significant down days for stocks, MBS markets and mortgage rates are helped by investors seeking safe havens in bonds.
Current Mortgage Rates at Par:
Mortgage rates are the same as they were to start the week. That’s not a bad thing. The current conforming 30 year fixed rate is 4.75%. The current conforming 15 year fixed rate is 4.25%. The current conforming 5/1 ARM rate is 3.75%.
To FHA mortgage rates, which mirror conforming mortgage rates (are the same), except for the 15 year fixed. The current FHA 15 year fixed rate is at 4.5%. Keep in mind fees on FHA loans are much higher than those of conforming mortgages, part to do with premiums and fees charged by FHA.
The current jumbo 30 year fixed is 5.75%.
Yesterday on FreeRate LOCAL
Here’s a few pieces of local mortgage news from FreeRate LOCAL you may find useful. Yesterday, on FreeRate LOCAL – California, Mark Simons did a little mortgage 101 explaining why you might not get the rates you see advertised on billboards and TV. Read the full story here.
On FreeRate LOCAL – Florida – Jim Eggers talked about borrowing landscape is changing in Florida. Read the full story here.
To display today’s mortgage rates on your website or on your blog use our today’s mortgage rates widget which is also available as a Wordpress plugin.
Author Spotlight : Bruno Mckenzie
Bruno, a former painter, entered the mortgage business during the boom working as a loan officer for a Mortgage Banker based out of Texas. Bruno, a TIC, developed a reputation as a closer in the office starting with his "Walker file". He retired from origination in 07' to study the seconday market.Current Mortgage Rates Rising, Maybe. Fix Your Adjustable Mortgage Rates, Definitely.
SHEEPSHEAD BAY, NY — Feb. 11 (FreeRateUpdate.com) – Yesterday on FreeRateUpdate.com we covered the Fed “text”, their broad outline for raising short term interest rates, stopping their purchases of Treasuries and MBS, and tightening credit. Ben Bernanke was unable to answer questions due to a massive snowstorm, meanwhile I was outside fixing a ruptured pipe under our foundation slab in some snowy rain stuff, fightin’ the wind at the same time, but that’s another story. Warm and cozy Bernanke left us with a text with just broad details leaving open endless possibilities but most importantly the markets weren’t spooked. Prices mortgage backed securities, which push mortgage rates in the opposite direction, were up, up enough that we face the possibility of 30 year fixed mortgage rates rising today. Still though 30 year fixed mortgage rates are well under 5%, historically low, and surely not turning off potential buyers.
NEW: Search Local Mortgage Rates
Something the average person can take from the Fed’s announcement they’re planning an exit strategy that includes raising short term interest rates, fix your adjustable rates. You home equity lines of credit, adjustable rate mortgages, anything tied to an adjustable index is going to be rising fast once the Fed starts raising rates. That $100 payment on your HELOC is going to shoot up to $400. If you’ve got an ARM set to adjust, instead of adjusting to a 3.5% rate, try 7, 8% on for size. Payment shock will hit some, some will take the necessary steps, if they’re able, to consolidate into a low fixed rate now.
To display today’s mortgage rates on your website or blog please use our free mortgage rates widget.
Author Spotlight : Bruno Mckenzie
Bruno, a former painter, entered the mortgage business during the boom working as a loan officer for a Mortgage Banker based out of Texas. Bruno, a TIC, developed a reputation as a closer in the office starting with his "Walker file". He retired from origination in 07' to study the seconday market.Mortgage Rates: Current Mortgage Rates at Par – FHA, Jumbo, 30 Year Fixed
Feb. 10 (FreeRateUpdate.com) – Yesterday was another wild one. The Dow shot up over 200 points before finishing up about 150. Current mortgage rates are up on a rallying stock market but not up enough for lenders to adjust their rate sheets for the worse. What do I mean by that and why would mortgage rates be up because the stock market is up? 
Pricing affecting closing costs is worse but current mortgage rates are still the same. 4.75% for a 30 year fixed will cost you more than it did yesterday, but still about a point. When investors get in the stock market to profit, on days like yesterday, bonds suffer. When bond prices are down, mortgage rates which move the opposite are up. It works like that almost every time. Prices of mortgage backed securities in particular drive mortgage rates in the opposite direction. MBS prices were down -8/32 (FNMA 30-yr 4.5 at 101.03) yesterday. The benchmark 10 year treasury yield, the leading indicator for forecasting 30 year fixed mortgage rates, finished yesterday unchanged.
NEW: Search Local Mortgage Rates
FreeRateUpdate.com researches over 20 wholesale lenders rate sheets and reports on mortgage rates par rates. Why par rates? What benefit do consumers have with par rates in hand?A par rate is what a savvy and qualified consumer will receive on any given day with a standard 1 point in origination. Par rates are typically 1/4% below the ”national averages”. Less savvy borrowers often receive rates 1/4 point above par though they are well qualified. The banks make huge profits on this.
Current Mortgage Rates at Par for Conforming, FHA, and Jumbo Mortgages:
Current conforming mortgage rates at par are as follows. 30 year fixed, 4.75%, 15 year fixed, 4.25%, 5/1 ARM, 3.75%. Conforming mortgage rates are unchanged from yesterday with a slight increase in pricing effecting closing costs for the worse.
Current FHA mortgage rates at par are as follows. 30 year fixed, 4.75 %, 15 year fixed, 4.5%, 5/1 ARM, 3.75%. FHA mortgage rates are also unchanged from yesterday with slightly higher closing fees for the same rate.
The current jumbo 30 year fixed rate is 5.75% at par.
To display current mortgage rates on your website or blog use our free mortgage rates widget.
Author Spotlight : Bruno Mckenzie
Bruno, a former painter, entered the mortgage business during the boom working as a loan officer for a Mortgage Banker based out of Texas. Bruno, a TIC, developed a reputation as a closer in the office starting with his "Walker file". He retired from origination in 07' to study the seconday market.Mortgage Rates Stable? Jumbo ARM’s, Jumbo Mortgage Rates, and Jumbo Delinquencies
I missed you guys yesterday. Trust me, I would of rather been at my desk writing my column then explaining to the book why I bet money I didn’t have on the Colts. Since when did they start collecting on Monday’s? I came out of it 
with some light bruising and a payment plan. Everybody I’m ok! Thanks for the emails and kind words. What are you gona’ do? Stop bettin’? You can’t pick em’ right every time.
Mortgage rates seem to be cemented at current levels. Since declining to 4.75% 30 year fixed mortgage rates both FHA and conforming have held. Mortgage rates aren’t moving despite big stock market swings, an unsettling political atmosphere, mixed employment data, and policy changes by the FED, the whole 9. That leads us to believe mortgage rates are pretty stable under 5%. I’m not making a mortgage rates forecast, but I don’t expect mortgage rates to jump a 1/4 point in a day unless North Korea launches a nuke so I’m goin’ with stable under 5 as my assessment. Read more on current mortgage rates here.
NEW: Search Local Mortgage Rates
Jumbo Mortgages
I’ll cover jumbo mortgage rates and delinquencies in the next paragraph, but I want to mention an excellent article I read by Jeff Bowman of http://www.thegreatloan.com/ for FreeRateUpdate.com in which he talks about game planning for an adjusting jumbo arm. When a jumbo mortgage resets the larger loan amount makes the payment increase that much more. It’s not easy to secure a jumbo mortgage right now for many reasons that Jeff discusses and for that reason it’s time to start game planning now for your loan that adjusts in the future. Either game plan now or face losing the game. Read the full story here.
Now when you talk mortgage rates you gota’ talk FHA mortgage rates but what about jumbos? Seems to be lost in the mix today. A report from Fitch Ratings shows jumbo mortgage delinquencies rising fast and almost to 10%. Holy mackerel. One out of 10 homeowners with a prime jumbo mortgage are seriously late. Seriously late refers to 60 days down. I explained yesterday in a piece ( I am currently studying the secondary market) why rising jumbo mortgage delinquencies may be affecting jumbo mortgage rates. Jumbo mortgage rates are a full percentage point higher than FHA and conforming mortgages. Read the full story here.
Show to the hour jumbo mortgage rates on your website or blog using FreeRateUpdate.com’s new jumbo mortgage rates widget.
I’ll ice my bruises and get some rest and talk to you tomorrow morning when I’m more myself, after midnight of course.
Catcha ya’ later,
The Real Bruno Mckenzie
Author Spotlight : Bruno Mckenzie
Bruno, a former painter, entered the mortgage business during the boom working as a loan officer for a Mortgage Banker based out of Texas. Bruno, a TIC, developed a reputation as a closer in the office starting with his "Walker file". He retired from origination in 07' to study the seconday market.Coffee After Midnight: Mortgage Rates to Drop? FHA? DTI Ratios, Jumbo Fixed Mortgage Rates
Hey everybody,
How ya doing? The Real Bruno Mckenzie signing in here for some shop talk. Now on FreeRateUpdate.com…. We’re gona’ talk Mortgage Rates, FHA Mortgage Rates, Jumbo Mortgage Rates and DTI RATIOS.. not in that order.
The stock market tanked over 250 points, investors seeking a safe haven fled to bonds including mortgage-backed securities. As a result MBS prices shot up and mortgage rates both conforming and FHA which move in the opposite direction are set to open lower tomorrow. The market got spooked by jobless claims and a changing political atmosphere, can you say NO? Mortgage rates set to improve
NEW: Speaking of mortgage rates, if you’re looking for the lowest mortgage rates try our free local mortgage rate search.
In his infamous weekly rate update, Mark Simons, the S.F. Mortgage Market Examiner and licensed CA loan officer with First Capital Alliance, talked about DTI ratios. Mortgages are tougher to qualify for now than at the same time last year. As if it’s not hard enough to qualify already the Natural Resources Defense Council put a study out aimed at adding commute cost to DTI calculations. Are you kiddin’ me? Mark Simons and his “lovable POV” (plain old vanilla) mortgage rates, Nothern California update for the week of 2/5/10.
Jeff Bowman of http://www.thegreatloan.com, a specialty super jumbo mortgage lender, wrote an excellent peice for our jumbo mortgage rates page yesterday. I pulled a paragraph out of there to quote in my column and here it is… “The push for somewhere to put all the government and depositors money has lead management to determine that lending on solid jumbo loans is the place to be in a risky lending environment. This has resulted in the lowest fixed jumbo rates in history. Jumbo Mortgage money is on SALE. Fixed 30Y rates are currently 5.75% and 15Y Fixed Jumbo Loan rates are at 4.375%”.
Author Spotlight : Bruno Mckenzie
Bruno, a former painter, entered the mortgage business during the boom working as a loan officer for a Mortgage Banker based out of Texas. Bruno, a TIC, developed a reputation as a closer in the office starting with his "Walker file". He retired from origination in 07' to study the seconday market.Coffee After Midnight: FHA Mortgage Rates, Widget, Mortgage Rates Forecast, 30 Yr Fixed
I read on the FreeRateUpdate.com Facebook Page we broke our daily pageviews record in consecutive days – (Google Analytics tracks these things), that’s gota be a good thing. Where’s my stats on the COFFEE AFTER MIDNIGHT COLUMN? I might need to talk to my agent about a new deal.
My new coffee maker.
Coffee Talk: My new coffee maker is out of this world. The “caffeine machine” has got a 5 gig hard drive, 2 backup heaters, voice recognition, recognizing 622 grounds from 76 countries and stands 4 feet 2 inches. It brews strong when asked. I wouldn’t kid ya. I bought it online this morning and it’ll arive Friday, flown in from London. Picture to the right.
As always we covered FHA mortgage rates today on FreeRateUpdate.com. High fees are overshadowing low FHA loans rates. Today’s FHA 30 year fixed rate is 4.75%. Read the full story here.
Speaking of FHA mortgage rates, today we launched an FHA mortgage rates widget. There’s a lot of mortgage rate widgets out there, but yours truly has the only one displaying FHA mortgage rates at par. If you’re a real estate agent looking to provide FHA mortgage rates to your visitors, you’ll want to check this out. Get it here.
Mortgage rates are nearly impossible to forecast. Everybody hopes private investors step in and fill the void of the government when they exit the MBS market in March. Will this still happen when a large amount, to the sum of $100 billion dollars aren’t being made good on. Read the full story here.
NEW:In our partnership with Informa Research Services we’ve launched a local mortgage rate search.
Lastly, forget forecasting mortgage rates. Let’s talk mortgage rates today. Mortgage backed securities moved up slightly but current mortgage rates continue to resist and deterioration. Current mortgage rates are at 4.75%, for a conforming 30 year fixed. Read the latest mortgage rate update here.
I thoroughlyy enjoyed my coffee after midnight, I hope you did too.
10-4,
The Real Bruno Mckenzie
Author Spotlight : Bruno Mckenzie
Bruno, a former painter, entered the mortgage business during the boom working as a loan officer for a Mortgage Banker based out of Texas. Bruno, a TIC, developed a reputation as a closer in the office starting with his "Walker file". He retired from origination in 07' to study the seconday market.The Walker File: Mortgage Refinance Extinct, 6% Mortgage Rates, Wells Fargo
I’m sorry I didn’t write my column after midnight today as my fans have become so accustomed to. Last night I was working on the Walker file. I delve into territories unknown looking for answers to big problems. Fannie, Freddie, mortgage rates starting with a numeral 6, a barren land in what was once booming with home refinance. I looked into 2011 and years beyond. I woke up this morning a wiser man, with a helluva headache. I closed the Walker file last night knowing some questions just don’t have answers. I had exhausted my resources.
The Walker File.
There’s a lot to cover this morning in just 20 minutes until my boss gets here. I had better get going. I went with a heaping 1/2 scoop to make my 10 cup pot today, rather than the normal perfectly leveled amount. Things are getting serious.
Lending Tree chief economist Cameron Findlay recently painted a horrid picture for the refinance business saying in 2011 mortgage rates will have risen up above 6%, dampening mortgage refinance volume by 80% and much more. Ed Ferrara reported on this and included a VIDEO. Read the full story and or watch the video here.
NEW: Looking for the lowest mortgage rates in your area? Do a local mortgage rate search.
Sheldon Levene said Fannie Mae and Freddie Mac are aggressively going after lenders that originated bad loans, pushing them back on the originators in record numbers. That’s sure to cause underwriters at these originators to be slightly hesitant with the approval stamps. Who can more easily absorb the loss? Fannie, Freddie or a small lender? Read the fully story here which includes a VIDEO.
Wells Fargo is very competitive with their 15 year fixed conforming mortgage, and 30 year fixed jumbo loans. I did a story on Wells Fargo mortgage rates which includes a rate table. See it here.
Mortgage ratesheld with pricing improving slightly yesterday. Ed Ferrara had it covered, current mortgage rates, FHA mortgage rates, and even jumbo mortgage rates from morning to night. Read the lastest mortgage rate update here.