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Mortgage Rate Predictions

Feb 23, 2017 11:05AM PST

Rate Update 2/23/2017 : Mortgage rates this morning are relatively flat compared to yesterday.  Yesterday's trading session started out with European news that Francois Bayrou announced his candidacy.  Bonds began losing their footing after this announcement, and then the Fed announcement came out a bit more tame than anticipated, bringing them back up again. There was no meaningful talk about tapering balance sheets in the near future from the Fed.  The Fed also didn't appear to be in a hurry to raise rates, but instead indicated that rthey would be monitoring the inflation rate before imposing a hike.  Bonds ended the day in slightly stronger territory than the previous day.  Check back here for more mortgage news and rate updates coming soon. Bookmark this page... More

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

4.082%

APR
30 Year Fixed
3.990% Rate $954/mo
  • Updated February 24, 2017
  • We close our loans FAST - many in 30 days or less!
  • Rates are still incredibly low! Lock in a low rate and payment today.
  • Why pay more for your home than you have to? Check out rates now.

4.082%

APR
30 Year Fixed
3.990% Rate $954/mo
  • Updated February 24, 2017
  • Fast, Powerful and Completely Online
  • Get an approval to buy a home or refinance your mortgage in minutes.
  • Save time & avoid paperwork by sharing your financial info instantly.

4.030%

APR
30 Year Fixed
3.875% Rate $940/mo
  • Updated February 24, 2017
  • Skip the salesman. Keep the commission!
  • Get online rates, payments and a Good Faith Estimate
  • $1,000 Best Rate Guarantee

4.357%

APR
30 Year Fixed
4.125% Rate $969/mo
  • Updated February 24, 2017
  • Direct Lender.
  • Get a free and no obligation rate quote in Virginia.
  • Call now and lock-in your low rate!

4.316%

APR
30 Year Fixed
4.250% Rate $984/mo
  • Updated February 24, 2017
  • 2 week closings, easy process.

3.921%

APR
30 Year Fixed
3.875% Rate $941/mo
  • Updated February 24, 2017
  • Certified Upfront Lender! Online Good Faith Est! Apply & Lock Rate 24/7!

4.441%

APR
30 Year Fixed
4.375% Rate $999/mo
  • Updated February 24, 2017
  • A+ Rating with the Better Business Bureau
Mark Hemingway
The Dow Jones Industrial Average began the day with nine straight record high closes beginning at 20,775.60, while the S&P and NASDAQ are right near record highs. The major indices have been driven higher by positive corporate earnings, better-than-expected economic data, and President Donald Trump's election promises of lower taxes, reduced regulations and higher infrastructure spending. In comparison, the Dow closed at 6,547.05 back on...
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MEL SMITH--LENDER OF THE MONTH
What is a late payment? According to the Credit Reporting Resource Guide: your payment can't be reported late until it's at least 30 days past due. Reporting you late when the bill is not at least 30 days past its due date violates federal law. You can establish a plan to not be late in the first place by doing the following: 1. Choose payment dates that are either at the same time, if that works for you, or staggered, such as on the...
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Leah TenBieg
Purchasing a home requires lots of your time and energy. While it's easy to go with the first rate you come across, it's smart to view multiple offers. This way, you are able to find the lowest rate possible. This is a time-consuming process but it's well worth the effort to explore your options. Trust who you get your rate from The lowest rate might not be the best rate for you and your current situation. If a company is offering...
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Mark Hemingway
Fed Chair Yellen will be testifying on the state of the U.S. economy on Tuesday and Wednesday in front of the Senate Banking Committee and the House Financial Services Committee, which could impact the markets. Ms. Yellen will most likely not drop any hints as to the timing of the next interest rate hike, but she also won't rule out a hike the the short-term Fed Funds Rate. Fed Fund Futures currently show a 30% chance of a hike to the Fed...
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James Brooks
By James Brooks The bond market is down 15/32 (2.38%), which should push today's mortgage rates higher by approximately .250 of a discount point. We saw bonds turn south after yesterday’s 10-year Treasury Note auction. The results of the sale gave us mixed results on investor interest in the securities. It appears the indicators that point towards a weak interest were the main focus as selling started immediately after the results...
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bcahoone
By rchrisman@robchrisman.com Southern Divorce....Priceless! (Thanks to Thomas A. for this one.)A judge was interviewing a South Carolina woman regarding her pending divorce and asks, "What are the grounds for your divorce?""About four acres and a nice little home in the middle of the property with a stream running by." "No," he said, "I mean what is the foundation of this case?" "It is made of concrete, brick, and mortar," she responded. "I...
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Leah TenBieg
Student loans, credit card debt from the holidays, and housing remodel expenses can all be taken care of this year by utilizing a cash-out refinance. Now that we are officially well into the new year, it would be nice to have some of these things taken care of. Read below to see how you can benefit from a cash-out refinance, and see if one is right for your current situation. Defining a cash-out refinanceWhile comparable to a regular refinance, a...
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James Brooks
By James Brooks The bond market is up 4/32 (2.46%), which should improve today's mortgage rates by approximately .125 - .250 of a discount point. The first of today's two relevant economic releases was January’s Employment report at 8:30 AM ET. It revealed that the U.S. unemployment rate rose 0.1% to 4.8% last month and that 227,000 new jobs were added to the economy. The payroll number was much higher than the 180,000 that...
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James Brooks
By James Brooks The bond market is up 8/32 (2.45%), which should improve today's mortgage rates by approximately .125 of a discount point. There were two pieces of data posted at 8:30 AM ET this morning. Neither were considered important to the financial or mortgage markets. The first was last week's unemployment update that showed 246,000 new claims for unemployment benefits were filed. This was a little lower than the 250,000 that was...
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bcahoone
By rchrisman@robchrisman.comMy Georgia cousin has two tickets for the 2017 SUPER BOWL, both box seats. He paid $3,000 for each ticket, but he didn't realize last year when he bought them, it was going to be on the same day as his wedding. If you are interested, he is looking for someone to take his place. His fiance's name is Heather, she's 5'6, roughly about 120 lbs., good cook too...it's at Bethel Church in Macon at...
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Mark Hemingway
U.S. employers announced more job cuts in January than in December mostly due to corporate downsizing in the retail and as seasonal workers were dismissed. Outplacement firm Challenger, Gray & Christmas reports that employers announced 45,934 payroll cuts in January, +37% from December in the retail sector. Cuts were 39% lower than January 2016. Mortgage rates were unchanged this week after last week's Gross Domestic Product showed tepid...
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Mortgages for Veterans
Tax season is officially here and there is some good news for injured veterans. The "Combat-Injured Veterans Tax Fairness Act of 2016," a law that says Veterans injured in combat do not have to pay taxes on the lump-sum disability payments they received, goes into effect this year. For Veterans who
bcahoone
By rchrisman@robchrisman.com(Thanks to Stephen S. for this one.)A lawyer named Strange passed away. His friend asked the tombstone maker to inscribe on his tombstone, "Here lies Strange, an honest man, and a lawyer." The inscriber insisted that such an inscription would be confusing, for a passerby would tend to think that three men were buried under the stone.However, he suggested an alternative. He would inscribe, "Here lies a man who was both...
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MEL SMITH--LENDER OF THE MONTH
Different from a mortgage pre-qualification, a preapproval is beyond a discussion with a lender. You will b required to submit quite a bit of paperwork. This includes employment verification and checking, savings and investment records. The lender will also pull a credit report on you. The components that lenders look for in mortgage preapproval are the consistent industry wide: A minimum two-year employment history in the same job or field.- A...
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Jackie McMichen
If you are considering a construction loan to build on a lot that you currently own or possibly looking into buying a piece of property with an existing tear down house there are several options for you to consider. There are still lot loans available but the most economical way to go about it is to purchase the lot and close on the construction loan all at the same time, thus eliminating the need for additional closing costs. The tricky part...
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Mortgages for Veterans
On Friday, Donald Trump was sworn in as the 45th President of the United States of America and one of his biggest stated policies is to bring reform to the U.S. Department of Veteran Affairs (VA). Trump has laid out his vision for VA reform in a 10-part plan that puts a large emphasis on helping veterans get the care they need, when they need it. Trump has vowed to eliminate the red tape that have back up the VA for decades. Trump says he will...
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bcahoone
By rchrisman@robchrisman.com Depository banks know that, per the AARP, more than 67% of US assets are controlled by individuals age 50+, with this group representing more than 67% of all bank deposits. If you don't think that lenders view reverse mortgages as a growth industry, you're wrong - it may be the last chance to lend to this generation, right? There is a lot of bank M&A going on and it is not always confined to banks: Fifth...
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Mark Hemingway
President Trump plans to sign an executive order to renegotiate NAFTA, the North American Free Trade Agreement, between the U.S., Canada and Mexico. NAFTA is a comprehensive agreement that sets rules for international trade and investment between the aforementioned countries. Mr. Trump's goal is to put American workers and businesses first when it comes to trade and to return millions of jobs to the U.S. U.S. Stocks are declining to begin...
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James Brooks
By James Brooks With the release of six economic reports due out this week that we will be watching in addition to a couple of Treasury auctions. The most important data will come late in the week, but the earlier events can still lead to minor changes in mortgage rates. There is nothing of importance set for tomorrow that is expected to influence mortgage pricing. Starting the week's calendar will be December's Existing Home Sales...
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Net Equity Loans.com
Getting a mortgage loan, whether FHA, refinancing, or conventional can take a little doing, but here are a few tips to prepare for the process. Get your FREE Quote Now! 1) Gather all your financial information in one place. Current W-2's (or 1099's), at least last years tax returns, preferably the last 2 years, current mor
Net Equity Loans.com
So you've finally made it to college. Your parents have been harping on you forever about the importance of getting good grades so you can graduate and get a great job making a lot of money in a field you love..... so right now you have no worries. I mean, you have the worries of writing that research paper by Thursday and of course doing well at school. But no "real life" worries. Or at least that's what your parents say. But one day...
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Net Equity Loans.com
The overall consensus of the upcoming 2017 Federal Reserve Board meetings is that interest rates will be rising in the near future. It's not all that surprising as interest rates have been at record lows for the last 6 to 7 years. What remains to be seen is what affect the Trump presidency will have on raising interest rates in the next couple of years. The
Mark Hemingway
President Donald Trump has taken the oath of office today in Washington D.C. Mr. Trump is now become the 45th president of the United States after resting his hand on his family bible and the Abraham Lincoln bible at 12:00 p.m. ET in Washington D.C. The transfer of power from Mr. Obama to Mr. Trump will be seen around the globe, which is broad casted from the steps of the U.S Capitol that houses Congress. Closing rates for mortgage loans rose to...
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bcahoone
By rchrisman@robchrisman.comA psychotherapist returned from a conference at Vail in the Rocky Mountains, where the delegates spent more time on the steep and very icy ski slopes than attending lectures and seminars.When she got back, her husband asked her, "So, how did it go?""Great," she replied, "but I've never seen so many Freudians slip."How many people find fault seemingly every day with the FHA, Fannie Mae, and Freddie Mac programs or...
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bcahoone
By rchrisman@robchrisman.comThe lawyer was cross-examining a witness. "Isn't it true," he began, "that you were given $5,000 to throw this case?"The witness did not answer. Instead, he just stared out the window as though he hadn't heard the question.The attorney repeated himself, again getting the same reaction, the same no response.Finally, the judge spoke to the witness, "Please answer the question.""Oh," said the startled witness,...
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James Brooks
By James Brooks The bond market is down 26/32 (2.42%), which should push today's mortgage rates higher by .375 of a discount point. December's Consumer Price Index (CPI) kicked off today's calendar at 8:30 AM. It showed a 0.3% increase in the overall reading and a 0.2% rise in the core data that excludes volatile food and energy prices. These readings pegged expectations and indicate inflation rose moderately at the consumer level...
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Paul Benezra
The Federal Housing Authority, or FHA, cut the annual mortgage insurance premium interest rate by .25% for FHA borrowers who closed on their new homes on or after January 27, 2016, making now a great time to buy and save in the process! What are FHA-backed loans? The FHA does not extend mortgages to prospective home buyers or lend directly to buyers; however, they do back certain mortgages, providing lenders with additional protections. The FHA...
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James Brooks
By James Brooks With the release of four economic reports due out this week, with one of them considered to be highly important for mortgage rates. The first data of the week is December's Consumer Price Index (CPI) at 8:30 AM Wednesday. This is one of the more important monthly reports for the bond market each month since it measures inflationary pressures at the consumer level of the economy. As with last week's Producer Price Index...
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bcahoone
By rchrisman@robchrisman.com A little boy returned from the grocery store with his mom. While his mom put away the groceries, the little boy opened his box of animal crackers and spread them all over the kitchen table. "What are you doing?" asked his mom. "The box says you shouldn't eat them if the seal is broken," said the little boy. "I'm looking for the seal." In Friday's commentary I included a piece on
James Brooks
By James Brooks The bond market is down 9/32 (2.39%), which should push today's mortgage rates higher by approximately .250 of a discount point. Yesterday’s 30-year Treasury Bond auction did not go badly but was not nearly as strong as Wednesday’s 10-year Note sale. Bonds did up some of their earlier gains during afternoon trading yesterday, causing some lenders to issue slight upward revisions to rates before the end of...
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Mark Hemingway
December wholesale inflation, the Producer Price Index (PPI), rose by 0.3%, which was in line with estimates led higher by more expensive prices for gas, food and cars. Core PPI, which strips out food and energy, was slightly hotter, up 0.2% versus the 0.1% estimated. However, year-over-year PPI grew by 1.6%, the biggest 12-month gain since 2014. The Producer Price Index is a family of indexes that measures the average change over time in the...
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Mortgages for Veterans
There are many benefits to refinancing your home: lower interest rates, pulling cash out, paying the loan off faster. But refinancing with a VA loan adds much to the equation. Even as interest rates continue to rise, it's still a good time for veterans to buy or refinance a home. It's important to note that the VA is not a direct lender, but instead guarantees loans from lenders like us. If you're eligible for a VA loan (
Mark Hemingway
For the first time in nine weeks, mortgage rates declined in the first week of 2017. Freddie Mac reported that the 30-year fixed mortgage rate fell to 4.20% for the week ending January 5, 2017 with 0.5 in points and fees. Freddie Mac said that this is the first time since 2014 that mortgage rates opened the year above 4%. Last year this time, the rate was 3.97%. Private sector job hiring fell in December from November signaling that job growth is...
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bcahoone
By rchrisman@robchrisman.comI wonder what my parents did to fight boredom before the internet.I asked my 17 brothers and sisters and they didn't know either. Any LO looking for opportunity should look no further than this statistic: there were 189,100 multifamily rental units completed between the fourth quarter of 2015 and the third quarter of 2016 across 54 U.S. metropolitan areas. Of those units, 84 percent were "luxury," which seems...
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James Brooks
By James Brooks The bond market is currently down 7/32 (2.48%) we should see an increase of .125 of a discount point. The Institute for Supply Management’s (ISM) manufacturing index for December was today’s only relevant data, but it was an important release. It showed a reading of 54.7 that exceeded forecasts (53.6) and November’s reading (53.2). This means that manufacturer sentiment was stronger than expected and...
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bcahoone
By rchrisman@robchrisman.comA Scotsman and his wife walked past a swanky new restaurant."Did you smell that food?" she asked. "It's smells absolutely incredible!"Being a 'kind-hearted Scotsman', he thought, "What the heck, I'll treat her!"So, they walked past it again. (Yes, a paragraph of pure fluff to start the year.) Does anyone handwrite checks anymore? Always a struggle to remember "2017" instead of "2016." And...
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Leah TenBieg
A loan-to-value ratio, commonly known as an LTV, is something to be aware of when you are looking to apply for a loan program. After all, an LTV can be the one determining factor that decides if you are approved for a mortgage loan. Read below to understand just what LTV is and how yours can be easily calculated. Defining and calculating LTVLTV is how you know just how much mortgage loan value you have in relation to how much your property is...
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Mortgages for Veterans
In a couple of days, it will be 2017. The New Year brings excitement, intrigue and wonder, but it is also a good time to look back and reflect on the past year. As an active duty or veteran servicemember, your New Year's Resolution should be to take advantage of the many VA benefits available to you. Here's a look at the top 5 veteran b
Mortgages for Veterans
While Christmas is a time for joy and celebration, the holiday can be hard for many families. Budgets are stretched thin, memories of loved ones we've lost can haunt us and many of our service members are away from their families. Military families make sacrifices all year-round, but those sacrifices are magnified during the holiday season, especially for those with children. It can be hard for children to find joy in the Christmas season...
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Mark Hemingway
Small businesses across the nation saw an increase in optimism following the presidential election, though profits continue to get squeezed due to sluggish revenue growth and rising operating costs, reports the National Federation of Independent Business (NFIB). The NFIB reported that its Small Business Optimism Index rose 3.7 points to 98.4, which is slightly above the long-term average. Within the report it showed that eight of the index's...
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Leah TenBieg
When you're in the market to refinance, the term "rate lock" will be mentioned quite a bit throughout the process. With rates constantly fluctuating, it's difficult to know when you should lock a rate in. Learn the basics of a rate lock to make your decision easier and see how you can benefit by utilizing one. The basics As stated before, rates are constantly changing. This is the number one reason borrowers find rate locks to be so...
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James Brooks
By James Brooks The bond market is down 6/32 (2.43%), which should push today's mortgage rates higher by slightly less than .125 of a discount point. Today's only relevant economic data was December's preliminary reading to the University of Michigan's Index of Consumer Sentiment just before 10:00 AM ET. It came in at 98.0, well above forecasts of 94.3 and a sizable increase from November's 93.8. This means that surveyed...
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MEL SMITH--LENDER OF THE MONTH
1.Ensure that the personal information for yourself and any co-borrower (if applicable) is easily accessible. This involves Social Security numbers, current addresses and employment specifics. Although there are some exceptions, two years of continuous employment is typically desired. 2.Identify your credit score and pull your own credit history beforehand. If you do this before the lender does it enables you to correct any inaccuracies and pay...
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Mortgages for Veterans
It's an annual tradition: The holiday card. For some people, this is the only time of year they look forward to a trip to the mailbox. But this year, when you're making your Christmas Card list, consider sending a card or two dozen to the thousands of men and women serving in the military who will spend the holidays away from their families. How? We're glad you asked.
bcahoone
By rchrisman@robchrisman.comCongrats to Ben Carson, Trump's nominee for HUD. Before anyone starts celebrating, here's what one person has to say that's worth a skim. Some would say its humorous.Vendors have been honing their offerings, making things more cost efficient given the perceived lower volumes in early 2017. Let's take a random sampling to see what they've been up to.Lendsnap will be doing a live demo of its...
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Mark Hemingway
The service sector of the U.S. economy grew at its fastest pace in 13 months in November, signaling the sector is a big positive for extended growth. The Institute for Supply Management (ISM) reported that its ISM Service Index rose to 57.2 last month, above the 55.6 expected and greater than the 54.8 recorded in October. A reading above 50 indicates the non-manufacturing sector economy is generally expanding; below 50 indicates the...
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James Brooks
By James Brooks The bond market is down 7/32 (2.40%), which should push today's mortgage rates higher by .125 of a discount point. There is nothing set for release today that is likely to affect rates. The rest of the week brings us only three monthly or quarterly economic reports that have the potential to influence mortgage pricing and none of them are considered highly important. Still, we can expect to see the recent volatility and...
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Dan the loanman
The Federal Housing Administration announced plans on Thursday to increase loan limits in 2017, announcing a significant jump in counties set to increase compared to last year. Due to
Leah TenBieg
Your first home will likely be one of the biggest purchases you will ever make. With so much to think about, how can you make this process less stressful and more efficient? Read below to learn some ways you can make your exciting purchase a positive experience. Always think long-term and re-sale With most important decisions, it's normally best to think long-term. Through much deliberation, you should consider all of your needs. Firstly,...
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James Brooks
By James Brooks The bond market is down 27/32 (2.39%), which should increase today's mortgage rates by .250 of a discount point. today's economic data has affected bond trading some, but the bond market was in bad shape even before the first report hit the wires. The sell-off is being attributed to the OPEC agreement to cut oil production, which immediately pushed oil prices higher and means we will likely be paying more at the pump...
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