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Mortgage Rate Predictions

Jul 22, 2016 5:14PM PDT

Rate Update 7/22/2016 : Mortgage rates didn't budge today. in fact, they have been sideways all week.  Bond markets started off the month at all-time lows, than had a pretty significant correction all last week.  This plateau is a leveling off from that correction.  This consolidation is also in part due to anticipation over next weeks Fed policy announcement and Japan's monetary announcement.  Bond traders typically don't want to push things too far in either direction ahead of such an eventful week.  This week was scarce in relevant data, having the only significant bit be the Housing Data (which historically, isn't a big deal to the bond markets anyhow).  Perhaps the summer vacation phenomenon is among us.  Either way, we expect things to heat up next... More

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

3.329%

APR
30 Year Fixed
3.250% Rate $870/mo
  • Updated July 24, 2016
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4.186%

APR
30 Year Fixed
3.875% Rate $940/mo
  • Updated July 24, 2016
  • We close our loans FAST - many in 30 days or less!
  • Rates are still incredibly low! Lock in a low rate and payment today.
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Bart Castelli
Mortgage rates are steady this morning, but was anticipating some positive movement after yesterday's rally. The MBS market improved by +5BPS yesterday, but was not enough to improve mortgage rates or fees. Existing-home sales rose 1.1% to a seasonally adjusted annual rate of 5.57 million in June, the National Association of Realtors said Thursday. That was 3% higher than a year ago and the strongest since February 2007. First-timers made up...
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James Brooks
By James Brooks The bond market is down 6/32 (1.59%), we will see only a slight increase in today's mortgage rates. The first of today's three economic releases was last week's unemployment figures at 8:30 AM ET. They showed that 253,000 new claims for unemployment benefits were filed last week, down slightly from the previous week's 254,000. Analysts were expecting to see an increase to 265,000 initial filings, meaning the...
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Mortgages for Veterans
On April 10, 2011, Army Staff Sgt. Jamie Jarboe was shot in the neck by a sniper while on foot patrol in the Zhari district of Afghanistan. His unit had finished securing a southern Afghanistan village when he stood up to check for signs of danger and was shot. Paralyzed from the chest dow
Bart Castelli
Mortgage rates were slightly higher again today, and this time, it is personal! OK, so it is not really "personal," but it is now more of a concern for those following my blog on my web site and check under the "Rates & Trends" tab - and hoping they will stay near all-time lows. We actually get more help from US Treasuries in arriving at this conclusion than we do from mortgage rates themselves. That's not because Treasuries are directly...
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Prospect Financial Group
What are closing costs? Closing costs are made up of fees paid to the lender, third party charges (title insurance, escrow services, and appraisals), and property taxes and homeowners insurance. All of your closing costs will usually equate to around 2-5% of your total loan value. This can end up being pretty expensive Do I have to pay my closing costs? No, you don't! Most lenders will give you the option of paying a slightly higher rate in...
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Prospect Financial Group
Many people believe that opening up a new credit card is the only way to access money. However, this is not the case. There are two other options when it comes to personal financing, which both carry lower interest rates. These are the personal line of credit and the personal loan. A personal loan is an appropriate tool to use when securing an item. Say you're buying a camera, a personal loan is the best way to go. However, if you're...
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James Brooks
By James Brooks The bond market is down 1/32 (1.38%), which should keep today's mortgage rates unchanged. today's key economic data gave us surprising results, although you wouldn't know it by the bond market reaction. June's Employment report showed that 287,000 new jobs were added to the economy last month, greatly exceeding expectations of 175,000. A number like that usually has a significant impact on the markets and...
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Mortgages for America
Whenever you're considering giving to a charity, no matter what the cause, it's important to investigate how much of the donated money actually goes to the cause and how much is earmarked for administrative expenses, such as salaries. Several services break down the expenses of nonprofits, providing information on functions, finances and management. While you can always look up the information yourself on these three free services:
Bart Castelli
Do you recall I stated that we might be looking for 1.25% for the 10yr note? It may get there a lot quicker than I thought. The British currency falling, Italy's banks may be in trouble with 17% of the banks' loans in default. Most of the Italian bank debt is held by mom and pops, the next country to have a serious problem? The pound fell to its weakest level since 2013 against the euro and the yen rose against all of its 31 major...
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Prospect Financial Group
What is the VA Home Loan? The VA Home Loan is a loan option that is insured by the Department of Veteran's Affairs. This means that the US Government gives incentive to lenders to lend to military borrowers. This insurance is funded by the funding fee that is included with each loan, though disabled veteran's are not required to pay this. What makes it different? The VA Home Loan is different from other loans because of it's...
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Bart Castelli
Mortgage rates trickled slightly lower today. I thought the bond and mortgage markets would settle down with some minor increases in rates - that was yesterday. I also believed there would be some settling in the UK leave vote - that was yesterday. While I said I expected interest rates would eventually move lower I was expecting some consolidation - that was yesterday. This morning the bond market began improving and MBS prices started better,...
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Mortgages for America
This weekend, as we celebrate our nation's independence with barbecues, parades and extravagant firework displays, let's remember to take a moment and remember how we got here. Independence Day is the celebration of the day our forefathers signed the Declaration of Independence freeing
James Brooks
By James Brooks The bond market is currently up 22/32 (1.47%), which should improve today's mortgage rates by approximately .250 of a discount point. There is nothing scheduled for release today that is relevant to mortgage rates. We are seeing the markets trade based almost exclusively on last week's vote in Britain to break away from the European Union. Over the weekend theories developed that have some people believing other...
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Bart Castelli
Mortgage rates move lower again today following last week's U.K.'s vote to leave the European Union. Indeed it is hard to turn on the TV, computer, or radio without hearing about Brexit. Global stocks continue to reverberate. There's no telling how long this "initial reaction" period will continue and what the longer term effects will be, but for now, the short term effects have been strongly positive for rates. Tomorrow the EU...
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Michael Ivanov
Vacation home sales are booming, particularly in beach and boating locations in the South and West. If you've always dreamed of a home away from home, be sure to ask yourself the following questions. How will
Chris Arco
As you move from the age of 20 into your 30s, 40s, 50s, and so on, a person's credit score will let lenders find out numerous things about you.In particular, it lets lenders find out the type of borrower you are. It will show them if you pay your bills on time the number of credit cards you have, and how much you charge on your cards. They'll see if you may charge close to the maximum limit, charge half or charge less than 30% of the...
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Prospect Financial Group
In the beginning It's important to get an idea of what the loan process is going to look like from the lender's side. Here is a list of questions that should help you paint the best picture of what your home financing process will look like. How long will it take for your loan to close?What documents will you need to provide?Will you need to pay for anything upfront?Will there be any fees associated with your loan/lender?Is the lo
Bart Castelli
By now, if you have not heard or seen the news, the British citizens ignored the political push to keep the UK in the EU, defying the betters and the markets that yesterday were convinced the vote would be to stay. OK, this is old news, but everywhere I am seeing or reading is trying to comprehend how this happened when the markets were leaning heavily the other way. Yesterday we heard a number of pundits saying, the markets are always right, and...
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Bart Castelli
Mortgage rates moved higher again as financial markets prepare for the results of the U.K. referendum on its European Union membership (aka "Brexit"). In general, rates are expected to rise if the U.K. remains in the EU, and rates could fall back toward recent lows if the U.K. votes to leave the EU. Current betting in the UK betting parlors - 5 to 1 to stay - 1 to 5 to leave. Here and in the currency markets the betting is to stay. US stock...
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Prospect Financial Group
Create a new repayment plan If you are in a financial position where forbearance is an option, go this route. It may take awhile and seem like a lot of paperwork, but it is the least complicated option. This is a short term option where you sit down with your lender and agree upon a new payment plan. Avoiding foreclosure is beneficial to both parties, so your lender will most likely be willing to work with you. Restructure your loan This is a...
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Ivan Diaz
Are you more comfortable out in the country, listening to the birds chirp and sing, with plenty of space to call your own? If so, then a USDA mortgage loan may be the perfect option to get you and your family into your own home today! What is a USDA mortgage loan? A USDA home loan is also known as a USDA Rural Development Guaranteed Housing Loan Program mortgage loan is a mortgage loan offered by the US Department of Agriculture to prospective...
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Bart Castelli
Mortgage rates remained under pressure today, moving up to the highest levels in two weeks. Financial markets are in the process of undoing some of their defensive maneuvers ahead of this week's referendum vote on the U.K. exiting the European Union. Last week we had all the moves that resulted in rates moving lower. But, there has been a shift as of late yesterday that has shifted regarding the probable outcome of the referendum, which has...
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Michael Ivanov
It can be hard to relax on vacation if you're worried about what's going on back home. But a few simple measures can help properly secure your house and give you the peace of mind you need to enjoy your time away. Hold mail and deliveries. -- The U.S. Postal Service makes it easy to put a temporary hold on your mail. And don't
Bart Castelli
Mortgage rates continued to climb today, and towards the end of the day, at a faster pace than we have seen in a long time. The question now is "Will they, or want they?" This is what in now dominating US and global markets. Over the weekend a new poll indicating the vote would be to stay but the polls released in the past two weeks have been like a shotgun pattern, all over the target. Today Europe's markets rallied strongly, it carried...
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Prospect Financial Group
What is it? Title insurance is insurance that protects you against claims made against your home. In the case that your home is not properly recorded with the city or county, the seller's loan was not properly paid off, an undisclosed prior mortgage was not paid at closing, or for any other reason: you're covered. It is required that the borrower buy title insurance for the lender, though it is not required that the borrower by title...
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Bart Castelli
Mortgage rates moved lower today, but it was not because of what happened today but to catch up on what transpired yesterday. Today after what started to look like record low days were approaching, right after my report this morning when I reported the 10yr had gotten to 1.52% that turned out to be the low for the day as it closed today at 1.58. The stock indexes though opened lower but crawled back and ended better. The data this morning had...
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bcahoone
By rchrisman@robchrisman.com (Thanks to Rhonda M. for this one.) GOD'S PLAN FOR AGING Most seniors never get enough exercise. In His wisdom God decreed that seniors become forgetful so they would have to search for their glasses, keys and other things thus doing more walking. And God looked down and saw that it was good. Then God saw there was another need. In His wisdom He made seniors lose coordination so they would
Michael Ivanov
If you're planning to list your house, you'll want to make a good first impression on potential homebuyers. Here are a few steps to get your home show ready. Clean and Purge -- Start by ridding your space of excess clutter. Shoe piles in the mudroom and stacks of mail on the table have to go.
Mortgages for Veterans
Contrary to common belief, home loans backed by the Veterans Administration (VA) have no cap on the upper range. While most eligible veterans opt for conventional loans, which have conforming loan limits, these limits are not imposed by the VA. When loan officers refer to loan limits in association with VA loans, they are most likely referring to how much someone can borrower with zero down. A VA guarantee does not mean the borrower will be...
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Prospect Financial Group
A real estate closing is the legal process by which ownership of a home changes hand from the seller to the buyer of a property. This process will be officiated either by a representative from a title company or an attorney. A borrower will be required to sign their name an average of 150 times during a mortgage closing. Once the funds are transferred from the lender and the borrower, the deed of ownership of a property is transferred and...
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bcahoone
By rchrisman@robchrisman.com (Yes, I know that I have used this before, but it is worth an occasional repeat.) One night at Cheers, Cliff Clavin said to his buddy, Norm Peterson: "Well, ya see, Norm, it's like this. A herd of buffalo can only move as fast as the slowest buffalo. And when the herd is hunted, it is the slowest and weakest ones at the back that are killed first. This natural selection is good for the herd as a
James Brooks
By James Brooks The bond market is currently up 1/32 (1.61%), which should keep today's mortgage rates unchanged. Today's only economic news came from the Commerce Department, who posted May's Retail Sales data at 8:30 AM ET. It showed a 0.5% increase in retail-level sales, exceeding forecasts of a 0.3% rise. This means consumers spent more than analysts were expecting, making the data negative for bonds and mortgage rates. Helping...
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Prospect Financial Group
Can it be done? Absolutely! You have a right to pay down your mortgage as fast as you would like. In order to do so, you have several options. One is to simply add more to your monthly payments. Whenever you have some extra cash, give it to your lender. This is the simplest option. A more complicated option is to make half of your mortgage payment each week, which will make 26 payments a year; making one extra total payment per year. The fastest...
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Mortgages for America
Millions of military homebuyers all across the country take advantage of the benefits of a VA home loan. Benefits such as no mortgage insurance, lower credit thresholds and lower interest rates are all attractive options for current and former military personnel and their families. But perhaps the most attractive VA loan benefit is the zero dow
Bart Castelli
Mortgage rates were steady today with very little movement from the opening bell. Markets (bonds and stocks) still digesting the meaning of the extremely weak and shocking May jobs gains, yesterday Janet Yellen made a valiant attempt to remove any thoughts the Fed is overly concerned with one month of hardly any new jobs, saying the Fed is still on a path to increase the FF rate, the timing; data dependent that Yellen has repeated numerous times...
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Bart Castelli
Mortgage rates were a tad higher today due to what came about late yesterday. Tomorrow brings the Employment Situation report, widely regarded as the most important piece of economic data on any given month. This report has a long tradition of causing big moves for interest rates, but its power has recently been muted by shift in the market's focus. Investors are more concerned with the Fed's next move and the Fed is more concerned with...
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Prospect Financial Group
Consumer debts such as credit card debt, auto loans, and other types come at a much higher interest rate than mortgage rate debt. For this reason, some people choose to refinance their existing debt into their home loan. This can be done via a cash-out refinance or a home equity line of credit. Either way, debt consolidation can be a great way to get your monthly payments under control and to fine-tune your finances. It is important when...
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Bart Castelli
Mortgage rates fell to their lowest levels in roughly two weeks. Once again intraday volatility was the recurring theme in the bond and stock markets. Key indexes were weaker this morning with the DJIA down, the rate markets improved with the 10yr yield down to 1.81% where we have very strong technical resistance and MBSs a positive 17BPS. But then in the afternoon, we saw the reverse as the 10yr closed at 1.84% and MBSs mainly flat. OPEC and the...
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James Brooks
By James Brooks The bond market is down 48/32 (1.85%), which should push today's mortgage rates higher by approximately .125 of a discount point. This morning had two pieces of economic data that are relevant to mortgage rates. The first was April's Personal Income and Outlays data at 8:30 AM ET. It revealed a 0.4% increase in income and a 1.0% jump in spending. The income reading matched forecasts but the spending exceeded already...
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Prospect Financial Group
What is it? A housing bubble forms when demand for housing goes up by an unnatural amount, and is then followed by a large increase in supply. However, what goes up must come down, and demand will eventually come back to an ordinary number. Supply cannot come down as fast as demand does, and the housing bubble will burst at this point. Too many houses, and no one to buy them. This drives down prices to the point where home values crash and people...
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Prospect Financial Group
What is it?A rate lock is the agreed upon time period that a mortgage lender will honor an agreed upon rate. This is important because it allows you to take the necessary time to close your loan without being subject to market fluctuations. What does it mean for me? It's important to keep complete all the necessary steps to close your loan in the agreed upon time period, otherwise your loan officer does not have to honor your existing rate....
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Bart Castelli
Mortgage rates were basically steady all day as it seems like everyone is still licking their wounds over the blast that was seen after the FOMC had their minutes released on Wednesday. If you talk to various lenders as I have in the past few days, we all have seen an increase in rates resulting about an eighth of a point higher. With that, the damage seen on Wednesday is still very much intact. In terms of the outlook, two straight days of...
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Prospect Financial Group
Lending standards have toughened up since the Great Recession. Because of new lending standards and laws, namely the Qualified Mortgage (QM) Law, it is harder to get a mortgage now than it was ten years ago. This is a good thing. Less reckless lending means a safer economy. It's a good idea to be able to answer these questions before shopping for a mortgage, with the documentation to back up your answers. Questions will include things about...
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James Brooks
By James Brooks The bond market is unchanged, which should keep today's mortgage rates. There were three pieces of economic data posted this morning. The first was April's Consumer Price Index (CPI) at 8:30 AM ET. It showed a 0.4% increase in the overall reading a 0.2% rise in the more important core data. The increase in the overall reading slightly exceeded forecasts but the core reading pegged expectations. Therefore, we can consider...
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Bart Castelli
Mortgage rates moved higher today as investors sold assets ahead of tomorrow's Fed Minutes. This was most evident towards the end of the afternoon as we saw the lower Treasury notes (2yr) rise faster than the movement we have seen on the 10yr. Today's increases were so minor, that I tend to worry when this all could be a delayed reaction to what might be happening tomorrow? Asset prices move lower when sellers outweigh buyers, and when...
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Prospect Financial Group
What Is It? A home inspection is a top-to-bottom look at your home. The home inspector you hire to look at the property should look at the following areas of a home: exterior, structural, roof/attic, plumbing, appliances, garage, electrical, HVAC, ventilation/insulation, and fireplaces. What Is It Used For? A home inspection is used to make sure that the property in question is fit to be bought at the price decided upon. It costs money to fix...
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Bart Castelli
Mortgage rates held surprisingly steady today, even though underlying bond markets were in noticeably weaker territory. As bonds weaken, rates normally move higher, but there's been a bit of a disconnect recently. In light of our discussion last week, perhaps it is not so surprising. Pressure all day in the bond and mortgage markets driven by a nice increase in stock indexes that was led by the rise in crude that was triggered somewhat by...
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Bart Castelli
Mortgage rates are just off their three-year lows, but are stuck in a holding pattern as both the bond and mortgage markets have had very little movement the last week. The bond market ignores weak economic data of which we have had so far this week. Today weekly claims increased 20K on expectations of a decline, last Friday April job gains less than expected, overall Q1 earnings and forward guidance weak. Last week both April ISM indexes were...
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Prospect Financial Group
Deciding on a home improvement project can be tough. There are many factors for which to consider. One of these factors is return on investment (ROI). It is important to make smart investments in your home, and all home improvement projects are investments. When you sell your home, it is possible to recoup sometimes over 100% of the costs associated with a project; you just have to pick the right ones. Here are five projects with the highest ROI....
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James Brooks
By James Brooks The bond market is up 1/32 (1.78%), which should keep today's mortgage rates the same as Friday's rates. There is nothing of importance scheduled for release today or tomorrow. The rest of the week brings us the release of three economic reports that have the potential to influence mortgage rates. Two of the reports are considered to be of elevated importance to the bond market and, therefore mortgage rates. This raises...
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