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Mortgage Rate Predictions

Apr 16, 2014 10:17AM PDT

Rate Update 4/16/2014 : What will mortgage interest rates do tomorrow? Rates should go down, according to mortgage professionals voting on Lender411's daily poll.Weaker than expected Existing Home Sale numbers pushed mortgage bonds into positive territory this morning, but no higher than yesterday's highs. Yesterday: Mortgage bonds ride in positive territory midday as weak Empire State (NY Fed) manufacturing numbers are announced. The 5.61 rating discerned in March plummeted to 1.29 in April. Shaky headlines out of Ukraine are doing their part for pushing bond prices up, and suggest a glimmer of civil unrest. However, Consumer Prices are up 0.2%, adding some encouragement to investors that the economy is improving.Market movers this week: Look out for Thursday's Initial... More

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

4.216%

APR
30 Year Fixed
3.990% Rate $954/mo
  • Updated April 17, 2014
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4.422%

APR
30 Year Fixed
4.125% Rate $969/mo
  • Updated April 17, 2014
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4.328%

APR
30 Year Fixed
4.125% Rate $969/mo
  • Updated April 17, 2014
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  • Free 60-day rate lock and no application fee

4.305%

APR
30 Year Fixed
4.125% Rate $969/mo
  • Updated April 17, 2014
  • Competitive rates and no hidden fees
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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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Joe Shamie
Tuesday - April 1, 2014, 11:30 am ET Current Trend Direction: Sideways to lower Float/Lock Bias: Carefully Floating Current Price of FNMA 4.0% Bond: $103.81, -16bp Birds of feather flock together and yesterday Fed Chair Janet Yellen, who last week roiled Stocks by suggesting that the Fed Funds Rate (FFR) could be raised by early 2015 did a complete reversal and was back in the flock with the rest of the doves. Heres what she said, which leads us...
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Prospect Financial Group, Inc.
The Federal Housing Administration (FHA) made changes to their policies for mortgage insurance premiums in 2013. Prior to the policy changes, borrowers with an FHA loan could eliminate mortgage insurance once the have had the loan for five years and have a loan-to-value ratio of 78 percent. Since the policy changes were made, mortgage insurance is now required for the entire life of the loan in most cases. If you are considering using a FHA loan...
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Richard Airey
Here is today's Mortgage Market Update from the Maine Mortgage Expert.
Bart Castelli
Mortgage Rates will have a lot to contend with as we have a block buster week with a big-name economic report each and every trading session that has the weight to move the markets. We get a look into manufacturing with Chicago PMI, ISM and Factory Orders; and we get a ton of labor market data with ADP Private Payrolls, Weekly Claims, Non-Farm Payrolls and the Unemployment Rate.Of course the markets will focus the most on Friday's Non-Farm...
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Joe Shamie
Monday - March 31, 2014, 9:53am ET Current Trend Direction: Sideways Float/Lock Bias: Carefully FloatingCurrent Price of FNMA 4.0% Bond: $103.78, -19bp He never wears a watch because time is always on his side! The most interesting man in the world. But we may not have much time for better rates in the short term this week given the closely watched Jobs Report is fast approaching this Friday. At 10 am ET, Fed Chair Janet Yellen is speaking in...
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James Brooks
By James Brooks The bond market is currently down 3/32, but we should see little change in this today's mortgage rates due to strength late yesterday that is offsetting today's losses. Yesterday's 7-year Treasury Note auction went fairly well but not as good as Wednesday's 5-year Note sale. The benchmarks we use to measure investor demand for the securities showed a decent level of interest. That may have contributed to some...
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Brian McFedries
The ReStart program is offered by Roofs Across America & HELP Housing Program. We work with this Non-Profit to help families who have gone through Foreclosure, Short Sale, Bankruptcy, or general economic hardship purchase property through the help of a non-profit. The non-profit will buy the house for with a 6 year lease option to buy at a pre-disclosed price. Any equity gain above the pre-disclosed price is the homeowners. Even if the...
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Bart Castelli
The stock market (as measured by DOW) is up a big time +140 points in early trading. So, that means that bonds like MBS are selling off right? Not early this morning, but we are seeing a negative trend in the last hour as of this writing (11:00 AM CST). This morning's domestic economic data was right on the money, essentially matching the market expectations across the board and is providing zero momentum to the MBS market. Unlike the last...
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Bart Castelli
Mortgage rates moved are moving in the right direction if you are the consumer looking for a home or might still want to do a refinance. Even though we have not seen a dramatic change in the mortgage rates, we still saw some gains as the Mortgage Backed Securities (MBS) continues to buck the resistant levels. Reason being, when the money is moving in to bond markets--and specifically into MBS, prices of those securities rise (more demand) and the...
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Bart Castelli
Our U.S. long term bond market is "hijacked" by global instability and continued geo-political concerns which will continue to provide fantastic support for mortgage rates and how they are priced on the open market. Today is likely to see the Mortgage Backed Securities (MBS) market continue with volatility. Already MBS have opened and worsened, and started to bounce back for improvement. Mortgage Bonds are trading near unchanged levels to...
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Joe Shamie
Thursday - March 27, 2014, 10:55am ET Current Trend Direction: Sideways to Higher back above 200-day MA Float/Lock Bias: Still Floating and riding the recent trend higher Current Price of FNMA 4.0% Bond: $104.12, -3bp Once again, Mortgage Bonds opened lower, but are now well off their worst levels of the day. Bonds shrugged off better than expected Claims data and an uptick in final Gross Domestic Product for 2013. The Labor Department reported...
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Bart Castelli
Mortgage rates improved today juiced up by the very strong 5 yr note auction this afternoon. The 10 yr note rallied on the results, taking its yield down to 2.70%, 5 bps lower than yesterday's close. The underlying market gains fueling the drop in rates came in waves today. However, even with the positive direction of the Mortgage Backed Securities (MBS), the most prevalently quoted conforming 30yr rate for top-tier scenarios still remained...
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Joe Metzler, MLO. NMLS #274132
Congratulations, you've decided that you would like to own you own home. As a first time home buyer, what should be your first step to home ownership? Consult a Local Mortgage Loan Officer The vast majority of people, in my opinion, start the process wrong, by talking to a real estate agent first. Without fail, the number one step to home ownership is to talk to a local mortgage company Loan officer. Why? Simple, how do you know what you can...
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bcahoone
Whenever I riffle through my rich neighbor's trash cans looking for paystubs and trying to figure out how much money they make, the motion light comes on and I have to run away. Seriously, I continually hear from underwriters and LOs about how not only is the gap between the "haves and the have-nots" is widening but about how people driving fancy cars and living in fancy houses have nearly no savings. As one veteran broker wrote to me,...
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Prospect Financial Group, Inc.
Last week, the Federal Reserve announced a third $10 billion reduction to quantitative easing, reducing its monthly bond purchases to $55 billion and keeping with tapering expectations. Both monthly mortgage bond and treasury purchases will be cut. While mortgage rates did take a hit last week following the announcement, they have continued to heal up to this point. Geopolitical risk headlines and slumping equity markets have also helped interest...
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Bart Castelli
More of the same this morning with Mortgage Backed Securities (MBS) continue to trade in a very tight range. The current pattern of ending the day where it started after seeing losses and gains through the day will likely continue, as there is no real economic data with any strength to break that cycle. Barring changes in overseas situations in Ukraine or China, MBS will likely continue this pattern again today and through the rest of the week....
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Joe Shamie
Tuesday - March 25, 2014, 10:40am ET Current Trend Direction: Sideways Float/Lock Bias: Start day carefully floating Current Price of FNMA 4.0% Bond: $103.84, unchanged Mortgage Bonds are in an interesting trading pattern. Each of the last three days, prices opened lower and closed higher from where they opened hence the GREEN candles on the price chart. Prices opened lower again today but are now unchangedwill this be four days in a row? We will...
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