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Mortgage Rates Level-Off at 3-Month Lows!!
Sep 26 2013, 3:47PM
Mortgage rates were unchanged today, keeping them in line with the lowest levels in over three months. This is the 12th business day in a row where rates have either been unchanged or better. Conforming, 30yr Fixed rates remained at 4.375% ( Best-Execution) for most lenders, though some are efficiently priced at 4.25%. Others still have attractive buydowns to4.125%, depending on your scenario and personal preference. Keep in mind that "points" are neither bad nor good--simply a choice between paying interest up front or over time. An 'attractive buydown' connotes a shorter amount of time for the total monthly payment savings to surpass the extra upfront cost required to lower the rate/payment.
Trading was relatively calm today for the mortgage-backed-securities (MBS) that most directly affect lenders' mortgage rates. As we've recently discussed, further progress in this already-impressive move lower in rate will be increasingly tough and would require noticeably downbeat economic data. We didn't get that today as the final GDP revision was in line with the preliminary reading of 2.5%. Moreover, Initial Jobless Claims were much lower than expected.
Although there have been 2 other days like today during this winning streak, where rates were unchanged from the previous day, the pace of improvements was already beginning to slow. Add to that the fact that it's been a historically big move of 3/8ths of a percentage point in less than 3 weeks, and it makes sense for those with shorter term outlooks to consider locking. Those with longer term outlooks will have to decide how much they're willing to gamble as our ability to move much lower from current levels is very likely predicated on next week's Employment Situation Report. A weak jobs report could reinvigorate the rate rally and reintroduce "high 3's" into the mortgage rate conversation, whereas a strong report might take us right back to "high 4's."
1/13/2013- HOMEOWNERS! THE HARP 2.0 IS HERE!! No Appraisals or Equity required! Easy qualifying for homeowners with limited or no equity with the HARP2.0 / DU Refi plus loan! For more info or to apply click here
|LOOKING FOR A MORTGAGE? Get PREQUALIFIED today! Click Here!|
I will get you approved for the best loan option available as per your request. I can usually have you pre-approved for a mortgage within one business day depending on the information supplied. If you prefer to do a full online application, please CLICK HERE to begin your Loan Application process. APPLY ONLINE
|HOME BUYERS!! Looking for a home? Free MLS SEARCH, CLICK HERE for your free property search!|
|Once you are pre-qualified for a mortgage, you will know the price range that you can shop for. Feel free to search available properties on our MLS link and in the event you see a property that interests you, we can represent you as your Buyers Agent through our Real Estate division, Terra Linda Realty. By combining both efforts, you will save potentially thousands of dollars by utilizing our bulk professional services of qualifyingy ou for a mortgage loan and representing you as your Buyers Agent! To learn more about Terra Linda Realty, please visit their website www.TerraLindaRealty.com|
A Note from Joe Sanchez, Owner / Principal Broker of Allied Equity:
Welcome to alliedequity.com, your source for Mortgage and Real Estate Finance information. We are a Internet-Based Mortgage lender, streamlined and utilize the current technology resources to generate and close mortgage loans. We can originate, FHA, VA, Conventional loans, Jumbo loans, Commercial loans, Private financing, Stock-securitized loans, and so much more. If you have an idea for a loan, call us and see if we can put together your next mortgage loan.
As a Mortgage originator, I promise the following:
Buying or Refinancing your property can be the single most important transaction in your life, therefore it is important you work with someone who has the experience, professional expertise and integrity to make your next Mortgage or Real Estate transaction pleasurable and stress-free.
If you have further questions, please don't hesitate to call me directly at my office below:
Joe Sanchez at 909-932-9226 or send and email: EMAIL ME
400 N. MOUNTAIN AVENUE, SUITE 223
UPLAND, CA 91786
OFFICE: 909-932-9226 , EFAX: 909-803-9840
DRE LIC# 01201910, NMLS LIC# 359090 & 359382 ** ALL RIGHTS RESERVED. ALLIEDEQUITY 2012