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Mortgage Rate Predictions

Jul 23, 2014 12:06PM PDT

Rate Update 7/23/2014 : An absence of market moving data left mortgage bonds unchanged midday after a stronger morning thanks to influence from overseas markets. Keep an eye out for lower or static mortgage rates. In housing sector news, the Mortgage Bankers Association realeased its Market Composite Index for the latest week, announcing total loan application volume rose by 2.6 percent.This week will be light where marketing moving reports are concerned, but look out for Friday's Durable Goods. For housing market insights, wait for tomorrow's New Home Sales. Yesterday: Mortgage bonds were in weaker territory midday after a lower than expected Consumer Price Index (CPI) was announced by the Labor Department, followed by stronger Existing Home Sales countering former bond strength.... More

Displaying rates for Mortgage Refinance in NJ for $200,000

4.181%

APR
30 Year Fixed
4.125% Rate $969/mo
  • Updated July 24, 2014
  • Find a mortgage right for you.
  • Enjoy a convenient loan process
  • Low rates. Learn more now.

4.202%

APR
30 Year Fixed
4.000% Rate $955/mo
  • Updated July 24, 2014
  • Direct Mortgage Lender
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3.916%

APR
30 Year Fixed
3.750% Rate $926/mo
  • Updated July 24, 2014
  • Learn how we transformed home lending into an enjoyable experience.
  • We changed the process to make it better, faster and easier for you.
  • You're updated every step of the way. No surprises.

4.202%

APR
30 Year Fixed
4.000% Rate $955/mo
  • Updated July 24, 2014
  • Saving just makes sense. Get $1000 Off Closing Costs.
  • Get a customized quote in minutes.
  • Free 60-day rate lock and no application fee

4.095%

APR
30 Year Fixed
3.875% Rate $940/mo
  • Updated July 24, 2014
  • Competitive rates and no hidden fees
  • One dedicated mortgage banker from first call to closing
  • Simple, straightforward process

3.732%

APR
30 Year Fixed
3.500% Rate $898/mo
  • From the lender: Garden State Home Loans, Inc. is an industry customer service leader!

4.177%

APR
30 Year Fixed
4.125% Rate $969/mo
  • Updated July 24, 2014
  • From the lender: Trust your home financing to a company that puts your needs first.

4.041%

APR
30 Year Fixed
4.000% Rate $954/mo
  • Updated July 24, 2014
  • From the lender: A+ RATING WITH BBB. LOCAL NJ LENDER. WHOLESALE RATES
Richard Airey
Here is today's Mortgage Market Update from my blog: The Maine Mortgage Expert http://mainemortgageexpert.com/2014/07/24/mortgage-market-update-for-wednesday-july-23rd-2014/
Prospect Financial Group, Inc.
Fannie Mae's June National Housing Survey has come out and shows a clear public opinion on the housing market. Each month Fannie Mae gathers data from a representative 1,000 households, asking questions about the state of the housing market. June's report showed that 87% of consumers believe home prices will rise by 2015. The most telling data from the report was that 70% of consumers believe that now is a good time to buy a home. This...
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Justin Fitzhugh
July 6th, 2014, Federal Housing Finance Agencys (FHFA) Director Mel Watt called for public input on the requirements of private mortgage insurance companies that insure loans owned by Fannie Mae and Freddie Mac.[1] Current law requires mortgage insurance for mortgages with loan-to-value ratio (LTV) of more than 80%. This insurance shifts the the first-loss exposure from taxpayers to the private market. The proposed requirements, drafted through a...
read more...
Joe Shamie
Wednesday - July 23, 2014, 10:15am ET Current Trend Direction: Sideways to higher Float/Lock Bias: Carefully Floating Current Price of FNMA 4.0% Bond: $105.81, +9bp Mortgage Bonds are inching higher in response to mixed earnings from Apple and Microsoft, increased tensions in the Mideast and reports that two Ukrainian fighter jets were shot down early today. There are no economic reports scheduled for release. In mortgage news, the Mortgage Bankers Associat
Prospect Financial Group, Inc.
Housing recovery is slow, and there are no signs of a quick recovery on the way. There is quite a bit of uncertainty when it comes to the future of the mortgage market. What we do know is that the Federal Reserve's quantitative easing program QE3 will be ending in October. Though effects of the end of QE3 aren't predicted to be felt until summer of 2015, they are no doubt on their way. In a midyear analysis by HSH.com, 30-year fixed...
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Joe Shamie
Tuesday - July 22, 2014, 10:25am ET Current Trend Direction: Sideways, stalling at resistance Float/Lock Bias: Carefully Floating Current Price of FNMA 4.0% Bond: $105.59, -6bp Bonds are just slightly higher after dealing with a tame consumer inflation reading and some fading of the geo-political, flight-to-safety trade. The Labor Department reported that the June Consumer Price Index (CPI) rose by 0.3%, which was inline with expectations and...
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Bart Castelli
Mortgage rates were mainly steady today as there were no significant economic reports and markets generally moved in unison based on geopolitical headlines (i.e. stock prices and rates moved higher and lower together). With the limited movement, 4.25% remains the most prevalently-quoted conforming 30yr fixed rate for top tier scenarios with 4.125% pushing the envelope. While further improvement can't ever be ruled out, the last few times...
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Tim Carroll
The upheaval in global financial markets over the past few years may have been unnerving for almost everyone, but among the hardest-hit group was first time home buyers, in Sonoma County and across the country. Many had to deal with the stress caused by an uncertain economy, the fallout on business and job security, and, more directly, a pronounced increase in the difficulty of securing mortgages. The good news for Santa Rosa, Ca. first time home...
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Joe Shamie
Monday - July 21, 2014, 10:45am ET Current Trend Direction: Sideways to higher Float/Lock Bias: Carefully FloatingCurrent Price of FNMA 4.0% Bond: $105.75, +16bp Mortgage Bonds begin the week near unchanged levels in the absence of any economic data. Stock futures are declining as continued sanctions against Russia will be considered this week in Europe, due to the downing of Malaysian FL 17 last week and its continued military presence in...
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Justin Fitzhugh
Last month the Consumer Financial Protection Bureau, CFPB, through a staff memo issued guidance on treatment for legally-married same-sex couples.[1] The Bureau will recognize all marriages valid from the moment the marriage is official within a jurisdiction, and a person who is married in any jurisdiction will be regarded as married nationwide regardless of the persons place of residency. Persons in a domestic partnership, civil union or other...
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Richard Airey
Here is today's Mortgage Market Update from my blog: The Maine Mortgage Expert: http://mainemortgageexpert.com/2014/07/19/mortgage-market-update-for-friday-july-18th-2014/
Richard Airey
Here is today's Mortgage Market Update from my blog: The Maine Mortgage Expert: http://mainemortgageexpert.com/2014/07/18/mortgage-market-update-for-thursday-july-17th-2014/
Joe Shamie
Thursday - July 17, 2014, 11:05am ET Current Trend Direction: Sideways, stabilizing Float/Lock Bias: Carefully Floating Current Price of FNMA 3.5% Bond: $102.25, +16bp Weak housing data is boosting the Bond markets this morning. Also hurting Stocks and helping Bonds is word on increased sanctions on Russian business over the problems in Ukraine. The Commerce Department reported that June Housing Starts declined by 9.3% from May to an annual rate...
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Bart Castelli
Mortgage rates held steady today after several days of it creeping higher. The range has been narrow enough to keep the most prevalently quoted top-tier rate between 4.125% and 4.25% for conforming, 30yr fixed loans. The market is currently fairly well split between the two depending on the program, fees, and scenario. Janet Yellen finished her semi-annual congressional testimony this afternoon. Most of the significant news came out yesterday at...
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Richard Airey
Here is today's Mortgage Market Update from my blog, the Maine Mortgage Expert: http://mainemortgageexpert.com/2014/07/17/mortgage-market-update-for-wednesday-july-16th-2014
Prospect Financial Group, Inc.
A common misconception about buying a home is that qualifying for a mortgage requires a 20% down payment. This idea stems from earlier mortgage requirements when rates were higher and restrictions stricter. Now is a time when the government realizes the importance of healthy stimulus to the mortgage market as a way to keep the economy stable. With this knowledge, there is a push to make homeownership available to as many people as possible....
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Joe Shamie
Wednesday - July 16, 2014, 12:50 pm ET Current Trend Direction: Sideways to lower Float/Lock Bias: Carefully Floating Current Price of FNMA 3.5% Bond: $102.03, -6bp Positive economic news out of China, better than expected earnings from tech giant Intel, hotter than expected wholesale inflation coupled with big merger news is pressuring Bonds modestly lower in the early going. Reports out of China showed that its Gross Domestic Product rose by...
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Justin Fitzhugh
The CFPB issued an interpretive rule that establishes a lenders acknowledgement of a successor-in-interest of an existing mortgage is not subject to the Ability to Repay Rule (ATR Rule). Last year, in Bulletin 2013-12, the CFPB communicated servicers were required to have policies and procedures that would allow the continued payment of a mortgage, evaluation of an heir, or implementation of loss mitigation measures in cases where the legal...
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Prospect Financial Group, Inc.
Equity is the value of your home at current market value after deducting the outstanding mortgage on your home. Explained another way, equity is what you would have left over in the event that you sold your property at market value and repaid your outstanding mortgage. Home equity is built over time; as equity builds, you create a pool of money which you can utilize later on. A smart way of using your equity is to use it where it will bring you a...
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Richard Airey
Here is today's Mortgage Market Update from the Maine Mortgage Expert: http://mainemortgageexpert.com/2014/07/16/mortgage-market-update-for-tuesday-july-15-2014/
Justin Fitzhugh
July 6th, 2014, Federal Housing Finance Agencys (FHFA) Director Mel Watt called for public input on the requirements of private mortgage insurance companies that insure loan owned by Fannie Mae and Freddie Mac. Current law requires mortgage insurance for mortgages with loan-to-value ratio (LTV) of more than 80%. This insurance shifts the the first-loss exposure from taxpayers to the private market. The proposed requirements, drafted through a...
read more...
Joe Shamie
Tuesday - July 15, 2014, 11:20am ET Current Trend Direction: Sideways, just below support Float/Lock Bias: Carefully Floating Current Price of FNMA 3.5% Bond: $102.03, -9bp Mortgage Bonds are just a tad lower despite better than expected earnings reports from JPMorgan and Goldman Sachs and a surge in New York manufacturing data. Bond Traders are likely waiting to see what Fed Chair Yellen has to say while testifying on Capitol Hill at 10am ET....
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Bart Castelli
Mortgage rates rose modestly today, ending last week's streak of 5 days without an increase. 4.25% was the most prevalently-quoted conforming 30yr fixed rate for top tier scenarios, but 4.125% was still in play with a little more money for closing costs. With no direct news markets today (stocks) are being defined as going higher because Q2 earnings are expected to be better than thought last week. Got to have a reason, even if it has little...
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Tim Carroll
Many people assume that when the kids leave home, their newly empty nest automatically signals that downsizing into a smaller house or condo is the next step. In truth, for such families living in Sonoma County, downsizing is a common option--one that could very well be the best choice. But, as the old Gershwin tune says, "it ain't necessarily so..." For many of us, once we establish a firm direction in life, a lot of decisions are more or...
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Richard Airey
Here is today's Mortgage Market Update from the Maine Mortgage Expert: http://mainemortgageexpert.com/2014/07/15/mortgage-market-update-for-monday-july-14-2014/
Justin Fitzhugh
Last Month, Freddie Mac reminded us it will no longer purchase mortgages with a lookback period of less than 45 days starting October 20th, 2014. A month earlier, the FHA issued a proposed rule to require all FHA guaranteed mortgages to the same lookback and notification periods. Will consumers handle higher monthly payments better because they receive a notification 60 days before the due date? Like everything else, I think, some will and some...
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Joe Shamie
Monday - July 14, 2014, 11:30am ET Current Trend Direction: Sideways along support Float/Lock Bias: Carefully FloatingCurrent Price of FNMA 3.5% Bond: $102.28, -12bp Better than expected earnings from Citigroup is lifting Stock futures and pressuring the Bond markets lower. There are no economic reports due for release today, but the rest of the week's calendar is full of reports that will cover a broad base of the US economy. There are no...
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Bart Castelli
Mortgage rates moved again lower today, bringing them in lines with the lowest levels of the month. The most prevalently quoted conforming 30yr fixed rate for top tier borrowers still remains at 4.25%, but with additional closing costs, 4.125% is now in play. With today's gains, rates have strung together a full week without moving higher at all. After a three and a half day weekend and after the better July employment report markets this...
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Richard Airey
Here is today's Mortgage Market Update from the Maine Mortgage Expert: http://mainemortgageexpert.com/2014/07/12/mortgage-market-update-for-friday-july-11th-2014/
Justin Fitzhugh
This is the second installment of the summary of the Interagency Guidance for Home Equity Lines of Credit (HELOCs) that near the end-of-draw period.[1]Part one, listed a summary of the risk management principles Federal Financial Regulatory Agencies require as the foundation of the drafting, development and implementation of our policies. Part two,
Bart Castelli
Mortgage rates continued lower today, helped along this time by European markets. Although mortgage rates are most directly influenced by prices of Mortgage Backed Securities (MBS), MBS themselves are influenced by broader bond market movements. The most direct influence comes from US Treasuries, but Treasuries in turn are affected by European bond markets. 4.125% is now back in the spotlight but 4.25% is still the most prevalently quoted...
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Richard Airey
Here is today's Mortgage Market Update from the Maine Mortgage Expert: http://mainemortgageexpert.com/2014/07/11/mortgage-market-update-for-thursday-july-10-2014/
Justin Fitzhugh
Major Federal Financial Institutions issued joint guidance regarding Home Equity Lines of Credit (HELOCs) that near the end-of-draw period.[1] The guidance is intended to help us, lenders, manage our exposure, and teaches us how to respond whenever borrowers are unable to repay. The guidance lists the risk management principles we are required to use as we draft and implement our HELOCs end-of-draw period policies, and a guidance on the...
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Joe Shamie
Thursday - July 9, 2014, 10:10am ET Current Trend Direction: Higher Float/Lock Bias: Cautiously Floating Current Price of FNMA 3.5% Bond: $102.62, +22bp Stocks around the globe are lower on news that Portugal's second largest lender has delayed debt payments. And the down turn in Stocks is driving a safe haven trade into Bonds and Gold. Adding to selling pressure in Stocks was negative economic news out of China and Europe. Also helping Bonds is some c
Bart Castelli
Mortgage rates again improved today, but it wasn't exactly a straight line to success. In fact, the underlying bond markets that directly impact lenders' rates began weakening yesterday afternoon and didn't really stop until after today's Fed Minutes ('weakening' implies higher rates). After the Fed released the Minutes from its most recent meeting, bond markets improved further. This allowed the change into positive...
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Richard Airey
Here is today's Mortgage Market Update from the Maine Mortgage Expert: http://mainemortgageexpert.com/2014/07/10/mortgage-market-update-for-wednesday-july-9th-2014/
Joe Shamie
Wednesday - July 9, 2014, 12:15pm ET Current Trend Direction: Stabilizing, testing resistance Float/Lock Bias: Cautiously Floating Current Price of FNMA 3.5% Bond: $102.19, -12bp After a 2-day rally, Mortgage Bonds are little lower as Stock prices rebound on a positive kickoff to corporate earnings season. Alcoa, who always starts earnings season, posted an adjusted quarterly profit of 18 cents per share, 50% more than expected. The news has set...
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Bart Castelli
Mortgage rates improved today. The range in question is small in terms of rates--stretching only from 4.125% to 4.25%. Most of the day-to-day movement takes place in the form of closing costs (because lenders tend to offer rates in .125% increments). So today's most prevalent rate quotes are the same as yesterday's (4.25%), but with slightly lower closing costs. Stress in the stock markets has bolstered an increase in some safety moves...
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Justin Fitzhugh
On June 20th, 2014, Fannie Mae published a reminder for mortgage servicers regarding the upcoming FinCEN Anti-Money Laundering (AML) requirements established by the Bank Secrecy Act (BSA). [1] The guidelines will become active on August 25, 2014. Fannie Mae guidelines are directed to mortgage servicers whether they are subject to AML provisions as per the BSA. When subject to the BSA, servicers are required to be in compliance with the provisions...
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Joe Shamie
Tuesday - July 8, 2014, 10:24am ET Current Trend Direction: Stabilizing, testing resistance Float/Lock Bias: Cautiously Floating Current Price of FNMA 3.5% Bond: $102.28, +16bp Mortgage Bonds are higher as Stock futures drift lower. For Stocks corporate earnings season starts after the close of trading today. It will be interesting to see how the numbers fare and how Stocks respond. The only important economic report for today is the 10am ET...
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Bart Castelli
Mortgage rates did not move today. The most-prevalently quoted conforming 30yr fixed rate for ideal scenarios remains at 4.25%, but 4.375% has lower fees. About what we expected today, not a lot of change in the bond and mortgage markets; the stock indexes traded quietly lower all day after the strong June employment report last Thursday. Most recent economic reports have been good, showing nice growth; both ISM indexes held well, however neither...
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Tim Carroll
Selling a Sonoma County Home Means Recruiting a Skilled Team It's a bit complicated, selling a home in Rohnert Park. Although you can make a case for the feasibility of doing the whole thing yourself, there are enough areas of knowledge where experience, expertise, and even licensure are recommended that few would ever try it. At the end of the day, selling a Rohnert Park home is a true team undertaking. And you're the one selling a...
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Richard Airey
Here is today's Mortgage Market Update from the Maine Mortgage Expert: http://mainemortgageexpert.com/2014/07/08/mortgage-market-update-for-monday-july-7-2014/
Justin Fitzhugh
In the last couple of years the media has attributed a decreased rate of homeownership to the rising levels of student debt. We have seen greater coverage of student protests who express hardship while repaying their debt, and greater occurrences of protests have fueled the argument that student debt is causing a decrease in the rate homeownership in young adults. However, two recent studies concluded that student debt has a small correlation to...
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Joe Shamie
Monday - July 7, 2014, 11:05am ET Current Trend Direction: Lower, stabilizing Float/Lock Bias: Cautiously FloatingCurrent Price of FNMA 3.5% Bond: $102.12, +9bp After last week's slide due to better than expected data culminating with a strong jobs report, Mortgage Bonds are trying to stabilize. This week's economic calendar is light with just Weekly Initial Jobless Claims being reported on Thursday. But the markets will have Wednesdays...
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Steven Ceceri
100% Financing for Real Estate Acquisitions is not readily available anywhere, unless a lender (usually private) is willing to consider additional collateral as a blanket. Buyers should be realistic in their financing expectations, so using a 80% LTV (less is better) would be advisable. There are loan programs (higher loan limits) that can go to 85% and even 90% for the right property and situation, but for most of the clients in the market, a...
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Bart Castelli
Mortgage rates were higher yet again today, taking their cue from the Employment Situation report. This is the big "jobs report"--the most important piece of economic data month in and month out. It is widely expected to alwaysbe the key consideration on the day it's released and today was no different. Today's weakness quite simply confirmed 4.25%as the more prevalent quote, but 4.375%is with less fees. The labor picture brightened...
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Prospect Financial Group, Inc.
In the first quarter the decline in growth showed a negative turn for the economy but has since been equalized by the current data and growth. Fannie Mae, however, remains skeptical that current growth will trump the weakness seen at the start of the year. A main concern of the government agency is the housing momentum at its current pace. In the beginning of the first quarter, residential investment again fell after a dramatic drop in the fourth...
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Bart Castelli
Mortgage rates went up today after we got our first dose of employment data this morning and it was much better than expected. The most prevalently quoted conforming 30yr fixed rate for ideal scenarios, moved upward towards 4.375% with a rebate, but 4.25% was still available. The interest rate markets increased and rattled any bullish bias on either technical or fundamental outlooks. That is today, two weeks ago it was all about a slow growth...
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Richard Airey
Here is today's Mortgage Market Update from the Maine Mortgage Expert: http://mainemortgageexpert.com/2014/07/03/mortgage-market-update-for-wednesday-july-2-2014/
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