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Mortgage Rate Predictions

Apr 23, 2014 10:39AM PDT

Rate Update 4/23/2014 : What will mortgage interest rates do tomorrow? Rates should stay the same, according to mortgage professionals voting on Lender411's daily poll.Mortgage Bonds have held up relatively well and traded in positive territory even in the face of rallying stocks. After last week's MBS selloff, lower prices are attracting buyers. New home sale data out this morning shows a dip for March, and down 13% year-over-year. Speculation points to that old, familiar harsh winter weather, as well as home prices outpacing wage gains. The Treasury will continue auctioning 5 and 7-year Notes through Thursday. Initial Jobless Claims numbers will be released tomorrow, 1:00PM ET.Last week: Weekly Initial Jobless Claims rose by 2K to 304K in the latest week, undercutting the... More

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

4.477%

APR
30 Year Fixed
4.125% Rate $969/mo
  • Updated April 23, 2014
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4.328%

APR
30 Year Fixed
4.125% Rate $969/mo
  • Updated April 23, 2014
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Barb Lanis
April 2014 Illinois: A New Down Payment Assistance program has been added to the already successful Illinois Housing Development Authority's (IHDA) existing programs. Welcome Home Illinois offers $7,500 towards a down payment for first time buyers (or anyone that has not owned a home within the previous 3 years). The terms of the program are better than that of the existing IHDA loans, carrying lower interest rates and higher down payment...
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Justin Fitzhugh
The Fannie Mae Loan Modification Program intends to prevent foreclosures by providing eligible borrowers with loan modifications that result in affordable and sustainable monthly payments. Loan modifications are available to borrowers who are in default or at imminent risk of default, but who are ineligible for the Governments Home Affordable Modification Program, HAMP. If you are considering this alternative, and you are able to modify the terms...
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Joe Shamie
Wednesday - April 23, 2014, 1:25pm ET Current Trend Direction: Sideways to higher Float/Lock Bias: FloatingCurrent Price of FNMA 4.0% Bond: $104.31, +22bp Despite a big rally in the Stock markets this week, Mortgage Bonds have held up relatively well and are trading higher. After last week's sell-off in Mortgage Bonds, lower prices are luring in buyers. And technically support continues to hold for Bonds. The current recovery is now 59...
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Prospect Financial Group, Inc.
If you have yet to lock in an interest rate for your home refinance, there will be lots of news this week on which for mortgage rates to move. The biggest moves may come late in the week, however. With a full U.S. economic calendar this week, including the release of the FHFA Home Price Index and Consumer Sentiment, rate shoppers may be better served locking a mortgage rate sooner than later. With interest rates dependent on the economic data...
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jarrod@utahloanexpert.com
Where does your state rank in the improving Real Estate Market? As the housing markets continue to show signs of recovery, 10 states stand out with the highest increase in home prices. They are: Arizona 16.6 % increaseIdaho 9.3% IncreaseUtah 9.3% IncreaseSouth Dakota 8.3% IncreaseColorado 7.3% IncreaseNorth Dakota 7.1% IncreaseFlorida 6.6% IncreaseSouth Carolina 6.3% IncreaseHawaii 5.7% IncreaseM
Richard Airey
Here is today's Mortgage Market Update from the Maine Mortgage Expert: mainemortgageexpert.com/2014/04/23/mortgage-market-update-for-tuesday-april-22-2014/
James Brooks
By James Brooks The bond market is down 4/32 (2.72%), which should push this today's mortgage rates higher by approximately .125 of a discount point from yesterday's rates. We did see bonds improve mid-day yesterday that caused some lenders to improve their rates intra-day by approximately .125 of a discount point. However, by the end of the session those gains had been erased. Therefore, if your lender improved pricing intra-day...
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Justin Fitzhugh
The Adjustable Rate Mortgage, ARM, is a good alternative for borrowers who are comfortable with risk, or borrowers whose income fluctuates through the year. The risk that a borrower takes when he/she acquires an ARM, is the potential for interest rates to go up; but just as likely, the borrower may be rewarded with interest rates going down Relative to the fixed rate loan products, this type of loan requires smaller monthly payments upfront, and...
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Bart Castelli
This morning we have started off very quietly as there is very little if anything of any consequence that would move the markets. US earnings are in full swing as half are already out with their reports. Both the 10yr and Mortgage backed Securities are relatively flat as well. Not that it matters, but Joe Biden is in Ukraine saying "Russia should stick to its international commitments and obligations," Mr. Yatsenyuk said. "They should not behave...
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Bart Castelli
Mortgage rates held steady today after what transpired on Thursday of last week. Whereas markets reacted to deescalating tension in Ukraine and stronger domestic economic reports last week, the current week is off to an uneventful start. Since there was not much to ponder today with no new data being released after the three day weekend, everything stayed relatively quiet. As such, the most prevalently quoted conforming 30yr fixed rate for...
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Richard Airey
Here is today's Maine mortgage market update from the Maine Mortgage Expert: http://mainemortgageexpert.com/2014/04/22/mortgage-market-update-for-monday-april-21-2014/
Justin Fitzhugh
Fixed rate mortgages offer the same monthly payments for the life of the loan. This is a good choice for risk averse borrowers, or for home buyers who plan to stay in their homes for a long time.As the name indicates, the interest rate of this type of loan will remain fixed for the life of the loan; and therefore, rates on this type of loan are often higher than adjustable rate mortgages.Common variations of this type of loan are the 10, 15, and...
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LouisJ
Many people have realized that it is impossible to qualify for a mortgage today without good credit. The credit crisis of the last few years has resulted in tighter lending policies so that it is tougher to purchase a home even with government loans and first time home buyer programs. When your credit has taken a dive you can legally restore your good credit profile and improve your credit score. The fact is that 80% of all Americans have wrong...
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Richard Airey
Here is today's Mortgage Market Update from the Maine Mortgage Expert.
James Brooks
By James Brooks The bond market is currently down 9/32 (2.67%), which should push today's mortgage rates higher by approximately .125 of a discount point. Yesterday afternoon's release of the Fed Beige Book report didn't reveal any significant surprises since the last update. Economic growth was modest to moderate in most Fed regions. Consumer spending that drives economic growth rose in most regions also, but the increase is being...
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Prospect Financial Group, Inc.
Since the start of the year, mortgage rates have been in flux. Uncertainty surrounds today's market, which makes it hard for a shopper to lock a great rate. Luckily for mortgage shoppers, mortgage rates fell again this week. Interest rates crept up several weeks ago with the anticipation of the release of the March jobs report. However, the report came out much weaker than expected, which drove rates down last Friday. $0 - $417,000 Loan...
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Joe Shamie
Thursday - April 17, 10:35am ET Current Trend Direction: Sideways to lower Float/Lock Bias: Floating longer-term (weeks and months to closing) Locking shorter-term (days and weeks) Current Price of FNMA 4.0% Bond:$104.19, -25bp Mortgage Bonds continue to drift lower this morning following the same pattern that began on Monday, when we switched to a short term locking position. The Bond Market closes at 2pm ET today and is closed tomorrow so we...
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Richard Airey
Here is today's Mortgage Market Update from the Maine Mortgage Expert.
Richard Airey
Here is today's Mortgage Market Update from the Maine Mortgage Expert
Bart Castelli
Mortgage rates took a wrong turn today and went up for the first time since April 3. I did not see anything in the market action today that has changed the bearish near term outlook for stocks, as for the bond and mortgage markets, to expect interest rates to continue to fall either a much larger decline in stocks or actual military activity in Ukraine has to occur. The rate markets have not had the strength to break this year's low rates so...
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Richard Airey
Here is today's Mortgage Market Update from the Maine Mortgage Expert
Bart Castelli
It is Tax, Passover, and Easter Week! I know that I may be of the minority, but some other better known economists out there are projecting the same. We are not looking at any long term "refinance boom" like we have had in the past decade - but it could last for 30-60 days once the market hits around 14,500. March Retail Sales came in much better than forecasts. The better report bolstered the stock indexes and took a little out of treasuries and...
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Joe Shamie
Monday - April 14, 11:15 am ET Current Trend Direction: Sideways Float/Lock Bias: Floating longer-term (weeks and months to closing) Locking shorter-term (days and weeks) Current Price of FNMA 4.0% Bond:$104.56, Unchanged Mortgage Bonds are still Happy and remain near the best levels of the year. Stocks are bouncing back after getting roughed up last week, but that is not stopping Bonds from clawing their way off the lows to trade back to near...
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Michael Silkworth
Wanting to find the best rate seems to be a question that comes up quite often. There is good news on this topic. Although interest rates vary from one lender to another, we all are much closer in rate than ever before. This is because of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010. Because of this legislation, lenders must keep their pricing in a narrow range based on national averages. Keeping this in mind, I would...
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Richard Airey
Here is today's from The Maine Mortgage Expert!: http://mainemortgageexpert.com/2014/04/12/daily-mortgage-market-update-for-friday-april-11-2014/">Mortgage Market Update
James Brooks
By James Brooks Today's bond market has opened up slightly despite stronger than expected economic news. Another round of early stock weakness has helped support bond prices. The bond market is currently up 3/32, which with yesterday's afternoon strength should improve this morning's mortgage rates by approximately .250 of a discount point over Thursday's early pricing. As stocks sank yesterday from where they were when we...
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Joe Shamie
Friday - April 11, 2014, 10:45am ET Current Trend Direction: Sideways Float/Lock Bias: Carefully Floating Current Price of FNMA 4.0% Bond: $104.72, +19bp Mortgage Bonds opened higher this morning due to continued weakness in the Stock markets. However, Bonds got knocked for a loop after wholesale inflation unexpectedly came in hotter than expected, but are still trading in positive territory. The Labor Department reported that the Producer Price...
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Richard Airey
Here is today's Mortgage Market Update from The Maine Mortgage Expert.
Prospect Financial Group, Inc.
A refinance is one of the biggest financial decisions a person will make in their lifetime. The process can be a stressful one as well as a large time commitment; but there are some things you can do to ease your pain and make refinancing in 2014 as easy as possible. The easiest thing you can do in preparing to refinance is to track your finances. Lenders are becoming stricter as a way to weigh the risk of a borrower. Keeping track of all...
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Joe Shamie
Thursday - April 10, 2014, 11:25am ET Current Trend Direction: Sideways Float/Lock Bias: Carefully Floating Current Price of FNMA 4.0% Bond: $104.66, +38bp Mortgage Bonds continue to trade in a sideways to lower pattern within the Falling Trend Lines. Stocks opened lower despite a big drop in Americans filing for first time unemployment benefits and this is reason for the boost in Bonds. This morning, the Labor Department reported that Weekly...
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Bart Castelli
Mortgage rates started the day in worse shape than yesterday's close, but came back in line before it ended keeping it the same as what it closed at yesterday following the Bond auction and the release of the FOMC Minutes. Rates had risen after that March 19th announcement and today's Minutes release provided an opportunity for the Fed to further explain some of the factors that may have concerned markets back in March. The key point in...
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bcahoone
Treasuries and mortgages started slightly weaker this morning with US stock indexes trading better in the futures markets and Europe's key equity markets improving. The 10 yr from a technical perspective still has difficulty holding below 2.70% (yesterday's close 2.68%), early this morning the note trading at 2.71%. Emerging-market stocks rose to a four-month high as technology shares extended gains and on bets China will take steps to...
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Joe Shamie
Wednesday - April 9, 2014, 11:15am ET Current Trend Direction: Sideways to slightly lower longer-term Float/Lock Bias: Floating, supported by a triple layer of support Current Price of FNMA 4.0% Bond: $104.12, -9bp Light selling is pushing Mortgage Bonds into negative territory so far this morning. Corporate earnings season kicked off yesterday with Alcoa reporting a profit decline due to a drop in aluminum prices. It is worth noting that...
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bcahoone
The CFPB has had its hands full with charges of discrimination, and of planting sympathetic people in public hearings. That aside, it is pretty good about keeping us up to date on its activities. For example, if you want details of its each of the new rules that is currently available, on can visit Rules. But today the House Financial Services Committee will hold a hearing entitled "Who's in Your Wallet: Examining How Washington Red Tape...
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Prospect Financial Group, Inc.
Since the start of the year, mortgage rates have been in flux. Uncertainty surrounds today's market, which makes it hard for a shopper to lock a great rate. Luckily for mortgage shoppers, mortgage rates fell again this week. Interest rates crept up in the earlier part of last week with the anticipation of the release of the March jobs report. However, the report came out much weaker than expected, which drove rates down on Friday. $0 -...
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Richard Airey
Here is today's Mortgage Market Update from The Maine Mortgage Expert.
Joe Shamie
Tuesday - April 8, 2014, 11:00am ET Current Trend Direction: Sideways to higher Float/Lock Bias: Floating, but more carefully with prices at the 50-day Moving Average Current Price of FNMA 4.0% Bond: $104.44, Unchanged After a little post Jobs Report run up, it is not surprising to see resistance and the weight of this weeks Treasury auctions cap any further Bond advance. There are no economic reports due for release today. The Treasury will be...
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Bart Castelli
Mortgage rates continued to slide downward today. While there was no significant economic data today, rates benefited in part from the ongoing weakness in stocks, which are on pace for their worst 2-day loss since January. When investors are pulling money out of stocks, the bond market can be one of the beneficiaries, including the Mortgage Backed Securities (MBS) that most directly affect mortgage rates. Increasing demand for MBS corresponds to...
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bcahoone
Remember HAMP? What happens to a sizeable portion of HAMP borrowers after their loan resets from, say 1% to the current market? They re-default, and this article sheds some light on what servicers like Ocwen and Nationstar are facing. I really wish I hadn't read K&L Gates' article covering the lessons learned from the first 35 CFPB enforcement cases, mainly because of the title "We've Only Just Begun"; not only do I have that...
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Joe Shamie
Monday - April 7, 2014, 11:55am ET Current Trend Direction: Sideways to higher Float/Lock Bias: Carefully Floating Current Price of FNMA 4.0% Bond: $104.25, +9bp Mortgage Bonds are trading near unchanged despite Stock prices in negative territory. The week's economic calendar is light with just the Producer Price Index, Consumer Sentiment and Initial Jobless due near the end of the week. The FOMC minutes from the March 19 meeting may offer...
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bcahoone
The number of banks in the United States grows smaller every week. Not because they are being shut down and folded into others, but because of mergers and acquisitions.I am sure that we can expect the same in residential lending as smaller firms decide the costs are too great to go it alone and join forces with larger companies, and/or owners decide to take the proverbial chips off the table. But returning to recent bank news, in Minnesota...
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Joe Shamie
Friday - April 4, 2014, 11:55 am ET Current Trend Direction: Sideways to lower Float/Lock Bias: Carefully Floating - and watching carefully as prices struggle at the 200-day Moving Average Current Price of FNMA 4.0% Bond: $104.22, +53bp And the survey says...192K jobs created in March, as the country thaws out from the extreme harsh winter weather. That was just below the 195K expected, while January and February were revised higher by 37,000...
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Bart Castelli
As the country thaws out from the harsh winter behind us, today's Jobs Report was a bit of a surprise to some, but overall, met the expectations of the economist. The figure reported was just below the expectations, but the revisions were much higher than anticipated. The report showed that the private sector also added 192K versus the 205K expected. The Labor Force Participation Rate ticked up to 63.2% from 63%, while the U6 number fell to...
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Bart Castelli
Yesterday's poor Mortgage Backed Securities (MBS) performance was a continuation of a longer trend over the last few days, and mortgage pricing has been creeping up. The MBS market opened this morning with little change, so mortgage pricing should remain about the same. Today's economic news releases are not anticipated to have much effect on trading so no extra volatility is anticipated. This said, there are always unforeseen events...
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Joe Shamie
Thursday - April 3, 2014, 10:30am ET Current Trend Direction: Sideways to lower Float/Lock Bias: Floating this morning, locking later todayCurrent Price of FNMA 4.0% Bond: $103.69, +9bp Mortgage Bonds are trading near unchanged headed into tomorrow's Jobs Report. As expected, Traders are not likely going to take any big bets before the numbers are released tomorrow morning at 8:30am ET. Ahead of the report, the Labor Department reported that...
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bcahoone
Friday we'll have the employment data, or unemployment data, depending on how you'd like to look at it. Cynics in residential lending and other heavily regulated industries think that we're approaching the point where half the people who work actually do something and the other half monitor and regulate the first half. We aren't quite there yet, but about 1 out of every 6 American workers is employed by the government, either...
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Richard Airey
Here is today's Mortgage Market Update from the Maine Mortgage Expert!
Prospect Financial Group, Inc.
It has been hard to shop for mortgage rates as of lately, as rates have been unpredictable in response to the Federal Reserve, global economy and geopolitical tensions. Because of this, we have taken the initiative to prepare a personalized breakdown for you based on today's current interest rates. $0 - $417,000 Loan Amounts30 Year Fixed @ 4.25% (4.25% APR) with 0 points 25 Year Fixed @ 4.25% (4.25% APR) with 0 points 20 Year Fixed @ 4.125%...
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Bart Castelli
Mortgage Backed Securities (MBS) continue to drift lower today after hitting a short term peak last Thursday. My recommendation to lock late last week was a good call, and cautiously floating unfortunately has not seen any rewards whatsoever. Looking ahead, I would suggest to lock ahead of the jobs report, unless you want to float the risk and do so with extreme caution.ADP reported the March private jobs increased 191K in March based on their...
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Joe Shamie
Wednesday - April 2, 2014, 11:20am ET Current Trend Direction: Sideways to lower Float/Lock Bias: FloatingCurrent Price of FNMA 4.0% Bond: $103.56, -31bp Mortgage Bonds continue to drift lower today after hitting a short term peak last Thursday. Looking ahead, we may be locking again into the Jobs Report. The closely watched S&P 500 opened near unchanged levels after closing at a fresh record high yesterday of 1,885. The markets have digested...
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