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Posts from the ‘Rate Update’ Category

17
Sep

Mortgage Rate Update (September 17)

Mortgage rates inched higher last week. These days “no big news” tends to mean “slightly higher rates.” Recent volatility abroad has helped push rates down to an 18 month low, but a quiet week tends to release some of that downward pressure. We cover this and more in this week’s Market Update Blog.

Wondering if you should lock your rate? Every situation is different. Give us a call at 805.543.LOAN and we would be happy to talk it over. Below, see mortgage rates for the week of September 15 – 19.

Read more »

10
Sep

Mortgage Rate Update (September 10)

Employers added 142,000 jobs in August, according to the Bureau of Labor’s widely followed monthly report. This is the first month since January 2014 that payrolls failed to add over 200,000 positions.

The report came in below expectations, but in general, investors, analysts, and economists don’t seem too worried. Markets took the news in stride (our weekly Market Update blog provides full analysis).

The factors effecting mortgage rates right now seem to be a combination of U.S. economic data (down employment report, positive Q2 GDP), Federal Reserve tapering (phasing out quantitative easing), and turmoil abroad (Ukraine-Russia, European economic struggles, etc). Despite some good news on the home front, investors remain cautious – which means mortgage rates continue to come at a bargain.

Rates stood mostly still last week (September 2 – 6), but have since risen in the new week (September 8 – 12). Even with the increase, rates sit near the lowest levels of 2014.

  • Conventional Rates: 30-year fixed, 15-year fixed, and 30-year high balance are up 1/2 of a point,
  • Government Rates (FHA, USDA, VA): Up between 1/2 of a point and 5/8 of a point.
  • Manufactured Rates: Up over 3/4 of a point.

Wondering if you should lock your rate? Every situation is different. Give us a call at 805.543.LOAN and we would be happy to talk it over.

Conventional Loan Programs 

30-year fixed, 15-year fixed, 30-year high balance

Conventional Mortgage Rates (September 8, 9, 10, 11, 12)

Specialty Loan Programs

FHA, FHA 203k, USDA, VA

FHA, USDA, VA Mortgage Rates (September 8, 9, 10, 11, 12 )

Manufactured Home Loan Programs

FHA Manufactured, Conventional Manufactured

Manufactured Home Mortgage Rates (September 8, 9, 10, 11, 12)

Jumbo Loan Program

Jumbo ($700,000 loan amount)

Jumbo Mortgage Rates (September 8, 9, 10, 11, 12)

Rates Directly to Your Inbox!

If you would like to receive a more detailed Mortgage Rate report, you can subscribe to our “CCL Rate Tracker.” The CCL Rate Tracker follows 10 loan programs and publishes three rate options closest to 1 point, par, and 1 rebate for each program every two weeks and delivers the results in an email. To sign up, please email [email protected] with the text “Rate Tracker.”

Apply Online Today!

When you register for a Loan Center account, you can submit a loan application online and the sensitive information that you provide will be transmitted securely. Your account also enables you to easily modify your loan application and view the status of your loan. Any questions? Call us at 805.543.LOAN or email us here.

About the Loan Programs:

 

NOTE:

  • Mortgage rates assume purchase of a singe-family, detached, owner-occupied, residential property.
  • Mortgage rates assume borrower credit score of 760 and a Debt-to-Income ratio of 35%. Rates for conventional loan programs assume a loan-to-value of 80%.
  • Loan amount is $417,000 for all programs (appraised value of $522,000), except for the high balance ($561,200 loan and $722,000 value), and Jumbo ($700,000 loan and $1,000,000 value)
  • Mortgage rates and APR subject to change.
3
Sep

Mortgage Rate Update (September 3, 2014)

Conventional mortgage rates (30-year fixed, 15-year fixed) are unchanged from last week’s reading, and at the lowest level in 18 months. The government programs (FHA, USDA, VA) inched up by about 1/4 of a point, but are still very close to 2014′s lowest record.

Read our Market Update column for more on why mortgage rates are so much lower than expected in 2014:

 

Conventional Loan Programs 

30-year fixed, 15-year fixed, 30-year high balance

Conventional Mortgage Rates (September 3)

 

Specialty Loan Programs

FHA, FHA 203k, USDA, VA

FHA, USDA, VA Mortgage Rates (September 3)

 

Manufactured Home Loan Programs

FHA Manufactured, Conventional Manufactured

Manufactured Home Mortgage Rates (September 3)

 

Jumbo Loan Program

Jumbo ($700,000 loan amount)

Jumbo Mortgage Rates (September 3)

Rates Directly to Your Inbox!

If you would like to receive a more detailed Mortgage Rate report, you can subscribe to our “CCL Rate Tracker.” The CCL Rate Tracker follows 10 loan programs and publishes three rate options closest to 1 point, par, and 1 rebate for each program every two weeks and delivers the results in an email. To sign up, please email [email protected] with the text “Rate Tracker.”

Apply Online Today!

When you register for a Loan Center account, you can submit a loan application online and the sensitive information that you provide will be transmitted securely. Your account also enables you to easily modify your loan application and view the status of your loan. Any questions? Call us at 805.543.LOAN or email us here.

About the Loan Programs:

 

NOTE:

  • Mortgage rates assume purchase of a singe-family, detached, owner-occupied, residential property.
  • Mortgage rates assume borrower credit score of 760 and a Debt-to-Income ratio of 35%. Rates for conventional loan programs assume a loan-to-value of 80%.
  • Loan amount is $417,000 for all programs (appraised value of $522,000), except for the high balance ($561,200 loan and $722,000 value), and Jumbo ($700,000 loan and $1,000,000 value)
  • Mortgage rates and APR subject to change.
27
Aug

Mortgage Rate Update (August 27, 2014)

To open August 27th, the 30-year fixed has dropped by 1/4 point in price, and is now listed at 4.000% (4.109% APR). More updates:

  • The day’s biggest winner: the FHA and FHA 203k loans and other government programs (USDA, VA). FHA pricing fell over 3/8 of a point, and is now down 7/8 of a point over the past month. This is the lowest we have listed the FHA, USDA, and VA loan programs in 2014.
  • The 15-year fixed was unchanged at 3.000% (3.195% APR). This is the lowest reading on our rate tracker in about 8 weeks.
  • The 30-year high balance dipped to its lowest level in 3 months – 4.125% (4.216% APR) – after dipping another 1/8 of a point in cost.

Read our Market Update column for more on why mortgage rates are so much lower than expected in 2014:

Read more »

20
Aug

Mortgage Rate Update (August 20, 2014)

Mortgage rates have dropped week-over-week. On Monday, we reported that our 30-year fixed had fallen by 5/8 of a point since August 13th:

Mortgage rates dropped noticeably since our Wednesday (Aug. 13) update. The APR for the 4.125% 30-year fixed rate moved from 4.182% to 4.140, as the rate “cost” fell 5/8 of a point.

To open August 20th, the 30-year fixed is about 3/8 point more expensive than Monday… but is still down 1/4 point from last week. Across the board, rates are lower.

Read our Market Update column for more on why mortgage rates are so much lower than expected in 2014:

Conventional Loan Programs

August 20 Conventional Mortgage Rates

Specialty Loan Programs

August 20 FHA, USDA, VA Mortgage Rates

Manufactured Home Loan Programs

August 20 Manufactured Home Mortgage Rates

Jumbo Loan Program

August 20 Jumbo Mortgage Rate

Rates Directly to Your Inbox!

If you would like to receive a more detailed Mortgage Rate report, you can subscribe to our “CCL Rate Tracker.” The CCL Rate Tracker follows 10 loan programs and publishes three rate options closest to 1 point, par, and 1 rebate for each program every two weeks and delivers the results in an email. To sign up, please email [email protected] with the text “Rate Tracker.”

Apply Online Today!

When you register for a Loan Center account, you can submit a loan application online and the sensitive information that you provide will be transmitted securely. Your account also enables you to easily modify your loan application and view the status of your loan. Any questions? Call us at 805.543.LOAN or email us here.

About the Loan Programs:

 

NOTE:

  • Mortgage rates assume purchase of a singe-family, detached, owner-occupied, residential property.
  • Mortgage rates assume borrower credit score of 760 and a Debt-to-Income ratio of 35%. Rates for conventional loan programs assume a loan-to-value of 80%.
  • Loan amount is $417,000 for all programs (appraised value of $522,000), except for the high balance ($561,200 loan and $722,000 value), and Jumbo ($700,000 loan and $1,000,000 value)
  • Mortgage rates and APR subject to change.
13
Aug

Mortgage Rate Update (August 13)

Conventional Loan Programs

Conventional copy

Specialty Loan Programs

Government copy

Manufactured Home Loan Programs

August 6 (Manufactured) copy

Jumbo Loan Program

August 6 (Jumbo) copy

Rates Directly to Your Inbox!

If you would like to receive a more detailed Mortgage Rate report, you can subscribe to our “CCL Rate Tracker.” The CCL Rate Tracker follows 10 loan programs and publishes three rate options closest to 1 point, par, and 1 rebate for each program every two weeks and delivers the results in an email. To sign up, please email [email protected] with the text “Rate Tracker.”

Apply Online Today!

When you register for a Loan Center account, you can submit a loan application online and the sensitive information that you provide will be transmitted securely. Your account also enables you to easily modify your loan application and view the status of your loan. Any questions? Call us at 805.543.LOAN or email us here.

About the Loan Programs:

 

NOTE:

  • Mortgage rates assume purchase of a singe-family, detached, owner-occupied, residential property.
  • Mortgage rates assume borrower credit score of 760 and a Debt-to-Income ratio of 35%. Rates for conventional loan programs assume a loan-to-value of 80%.
  • Loan amount is $417,000 for all programs (appraised value of $522,000), except for the high balance ($561,200 loan and $722,000 value), and Jumbo ($700,000 loan and $1,000,000 value)
  • Mortgage rates and APR subject to change.
6
Aug

Mortgage Rate Update (August 6)

Mortgage rates are mostly unchanged from the previous week, despite last week’s busy sets of data. Employment, GDP, and Federal Reserve news came in without many surprises. Through it all, mortgage rates didn’t do all that much, which means that the market had mostly expected (and prepared for) such results.

Rates remain near their lowest levels in a year, making for a nice window for potential buyers to save hundreds off monthly interest payments.

Conventional Loan Programs

August 6 (Conventional) copy

Specialty Loan Programs

August 6 (Government) copy

Manufactured Home Loan Programs

August 6 (Manufactured) copy

Jumbo Loan Program

August 6 (Jumbo) copy

Rates Directly to Your Inbox!

If you would like to receive a more detailed Mortgage Rate report, you can subscribe to our “CCL Rate Tracker.” The CCL Rate Tracker follows 10 loan programs and publishes three rate options closest to 1 point, par, and 1 rebate for each program every two weeks and delivers the results in an email. To sign up, please email [email protected] with the text “Rate Tracker.”

Apply Online Today!

When you register for a Loan Center account, you can submit a loan application online and the sensitive information that you provide will be transmitted securely. Your account also enables you to easily modify your loan application and view the status of your loan. Any questions? Call us at 805.543.LOAN or email us here.

About the Loan Programs:

 

NOTE:

  • Mortgage rates assume purchase of a singe-family, detached, owner-occupied, residential property.
  • Mortgage rates assume borrower credit score of 760 and a Debt-to-Income ratio of 35%. Rates for conventional loan programs assume a loan-to-value of 80%.
  • Loan amount is $417,000 for all programs (appraised value of $522,000), except for the high balance ($561,200 loan and $722,000 value), and Jumbo ($700,000 loan and $1,000,000 value)
  • Mortgage rates and APR subject to change.
30
Jul

Mortgage Rate Update (July 30)

Mortgage rates have inched up slightly from our report on Monday, July 28. Despite the rise, rates are still about 1/8 of a point lower than at the start of the month, and at their lowest levels in nearly a year. This is a nice window for potential buyers to save hundreds off monthly interest payments.

Conventional Loan Programs

July 30 Conventional copy

Specialty Loan Programs

July 30 Government copy

Manufactured Home Loan Programs

July 30 Manufactured copy

Jumbo Loan Program

July 30 Jumbo copy

Rates Directly to Your Inbox!

If you would like to receive a more detailed Mortgage Rate report, you can subscribe to our “CCL Rate Tracker.” The CCL Rate Tracker follows 10 loan programs and publishes three rate options closest to 1 point, par, and 1 rebate for each program every two weeks and delivers the results in an email. To sign up, please email [email protected] with the text “Rate Tracker.”

Apply Online Today!

When you register for a Loan Center account, you can submit a loan application online and the sensitive information that you provide will be transmitted securely. Your account also enables you to easily modify your loan application and view the status of your loan. Any questions? Call us at 805.543.LOAN or email us here.

About the Loan Programs:

 

NOTE:

  • Mortgage rates assume purchase of a singe-family, detached, owner-occupied, residential property.
  • Mortgage rates assume borrower credit score of 760 and a Debt-to-Income ratio of 35%
  • Loan amount is $417,000 for all programs (appraised value of $522,000), except for the high balance ($561,200 loan and $722,000 value), and Jumbo ($700,000 loan and $1,000,000 value)
  • Mortgage rates and APR subject to change.
28
Jul

Mortgage Rate Update (July 28) – Rates Drop

Since our last update on July 16, mortgage rates have dropped across the board. The largest improvements came under the “Specialty Loan Programs” header, with FHA, USDA, and VA all dropping over 1/4 of a point in price (over 0.04% in APR).

Conventional Loan Programs

July 28 Conventional Rates

Specialty Loan Programs

July 28 Government Rates

Manufactured Home Loan Programs

July 28 Manufactured Rates

Jumbo Loan Program

July 28 Jumbo Rates

Rates Directly to Your Inbox!

If you would like to receive a more detailed Mortgage Rate report, you can subscribe to our “CCL Rate Tracker.” The CCL Rate Tracker follows 10 loan programs and publishes three rate options closest to 1 point, par, and 1 rebate for each program every two weeks and delivers the results in an email. To sign up, please email [email protected] with the text “Rate Tracker.”

Apply Online Today!

When you register for a Loan Center account, you can submit a loan application online and the sensitive information that you provide will be transmitted securely. Your account also enables you to easily modify your loan application and view the status of your loan. Any questions? Call us at 805.543.LOAN or email us here.

NOTE:

  • Mortgage rates assume purchase of a singe-family, detached, owner-occupied, residential property.
  • Mortgage rates assume borrower credit score of 760 and a Debt-to-Income ratio of 35%
  • Loan amount is $417,000 for all programs (appraised value of $522,000), except for the high balance ($561,200 loan and $722,000 value), and Jumbo ($700,000 loan and $1,000,000 value)
  • Mortgage rates and APR subject to change.
23
Jul

Mortgage Rate Update (July 21 – 25): Delayed

The Mortgage Rate Update for July 21 – 25 will be pushed back until next week (July 28 – August 1). Make sure to check in with our blog on Monday, July 28 for a Market Update.

For a customized financing scenario, rate update, or loan pre qualification, please feel free to call 805.543.LOAN. Our expert loan officers are happy to help!