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Mortgage Rate Predictions

Mar 27, 2015 12:09PM PDT

Rate Update 3/27/2015 : What will mortgage interest rates do tomorrow? Mortgage professionals are voting in our daily poll. Although markets are focusing on the Q1 gdp for 2015, the third and finalized estimate for 2014's Q4 was released today. The result was that gdp grew 2.2%, whereas the forecast was 2.4%. It was close enough to the forecast to negate any real impact on rates. Mortgage rates have continued to increase this morning and have regained their losses since the fed meeting last week. There is no other significant data that will be released until Monday. Expect rates to keep within a narrow range for the remainder of the week.Thursday: The recent economic data has been very mixed, which explains the random fluctuations in mortgage rates. Jobless claims data was released this morning, with... More

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

3.945%

APR
30 Year Fixed
3.750% Rate $926/mo
  • Updated March 27, 2015
  • From the lender: A+ Rating with the Better Business Bureau
Bart Castelli
Mortgage rates had one of their least exciting days of the week today, moving just modestly lower from yesterday's latest levels. After this week's volatility, today it was a rest period. Q4 GDP was a none event coming in where it had been expected and its old data, the U. of Michigan sentiment index was better than expected compared to two weeks ago. Neither got any response with Q2 ending next Tuesday. This week's market moving...
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Bart Castelli
Mortgage rates rose rapidly today, almost completely erasing the improvement following last week's Fed Announcement. In this world of interest rates a few days can be a life time. Yesterday and again today most of the driving news is coming from the Mid-East - Yemen under assault from rebels, Shiites and Sunnis at war as civil wars throughout the region are heating up, though so far, markets are just watching for the most part. Eventually...
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Bart Castelli
Mortgage rates unfortunately took off in the wrong direction after my morning commentary, something that has not been done for nearly two weeks. This morning both the bond and MBS markets were acting a little peculiar. The stock indexes were under pressure but there was no movement into treasuries. At Noon the hammer dropped when the results of the 5yr note auction were released, which showed that the demand for this note was the weakest in the...
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James Brooks
By James Brooks The bond market is down 4/32 (1.91%), we should see a increase in today's mortgage rates by .125 of a point. February's Durable Goods Orders report was posted at 8:30 AM ET this morning. The Commerce Department announced a 1.4% decline in new orders for big-ticket products. Because analysts were expecting a small increase, we can consider the data favorable for bonds and mortgage pricing. However, since this data is...
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Bart Castelli
Mortgage rates fell again today, as the Treasuries and MBS's put in another good day. The 10yr is now at 1.88% and the 30yr MBSs up 33BPS today. The stock indexes ended lower today but given the wide swings we call this a quiet one. Equity markets beginning to look top-heavy, with a possible correction coming. Equities are selling off, but the Euro remains stronger and WTI Crude is up. These three markets have tended to be correlated lately....
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Bart Castelli
Mortgage rates seemed to settled down today - a little more civil compared to the last three days, except for the currency and oil markets. The dollar is continuing to decrease and oil is giving back most of its recent decline. Stocks are doing their thing, another triple digit day for the DJIA. The bond and mortgage markets compared to currencies and stock put in a quiet session - both saw a little improvement but not the kind of swings we saw...
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Dan the loanman
March 17, 2015 We Call a Bottom It is not often that we go out on a limb and make a prediction about the future. That is because one of our favorite sayings is -- you can't predict the future. However, sometimes we just can't resist. What bottom are we predicting? The rate of home ownership in America. It has been falling for nearly a decade and in the fourth quarter of 2014, it hit the lowest level in over two decades at 63.9 percent,...
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prospect Financial Group San Deigo, CA
The IRS Form 1098, or Mortgage Insurance Statement form, is used to report the mortgage interest you received in the course of that tax year. A mortgage, for tax purposes, is a loan secured by your primary home, second home, home equity loans, or refinanced mortgage. The home can be a house, condominium, cooperative, mobile home, boat, or similar property, but it must carry out vital functions of a home such as having sleeping space, bathroom...
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Bart Castelli
There is a reason why I do not gamble as today is a perfect example that even though I was in the minority stating that this should happen, when it comes to giving advice to people about their biggest monthly expense, I tend to be conservative and let them know of the risks versus the rewards. Today was one of those days. Mortgage rates plummeted today, relatively speaking. While the average improvement might not look like much at face value, it...
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Bart Castelli
Mortgage rates continue a little bit lower again today, extending a recent winning streak that has seen improvements on 6 out of the past 7 days. It was about what was expected today, as there was very little to no movement in the bond and mortgage markets ahead of the FOMC tomorrow. I have said about all there is to say about the Fed - the word patience, and how the FOMC will decide to confuse markets a little more. The overwhelming view is the...
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Bart Castelli
Mortgage rates fell modestly to begin the week following several weaker-than-expected economic reports. Treasuries tried to improve today as the 10yr note yield declined 4 basis points to 2.07% this morning but it could not hold against the force of FOMC on Wednesday. The stock market rallied but I do not give it much credit, volatility is very high and the key indexes are just swinging in wide interday day ranges and still are essentially...
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Bart Castelli
Mortgage rates - to spell uncertainty, begin with using the letter V. Stocks and bonds are demonstrating increased interday and intraday volatility these days. I expected it and warned it would continue for weeks as investors face the Fed, the strong dollar and declining global growth. Interest rate markets moving in wide swings this week, with the stock market leading the way. Next week the FOMC meeting with most, including a number of Fed...
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Bart Castelli
Did I mention increased market volatility yesterday? Today both stocks and bonds are volatile with stock indexes quite weak and treasuries and MBSs are doing better adding to the improvements from yesterday. The 10yr at 10:00AM is at 2.13% down 4 BPS and MBS prices are 33 BPS higher than yesterday's improvement. What a difference from Friday's fiasco. It is all about what the Fed will do and when and what is occurring in Europe and...
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Bart Castelli
Mortgage rates recovered a little bit of the heavy losses that occurred on Friday. Not much happening today for the bond market. Through the session not much movement at all as traders and investors continue to digest the increase of jobs against the quality of the jobs and that 62.8% of workers participating in the market. Truly a continuing mixed take away from the monthly employment data. Jobs growing over 200K a month and the unemployment...
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Prospect Financial Group San Deigo, CA
If you're thinking about buying a home, how much you'll be able to afford as a downpayment is probably one of the first things you consider. A downpayment is the amount of money you pay upfront, which equates to the initial equity you have in the home. In almost every case, the bigger your downpayment, the less you'll have to spend on the rest of your loan. A 20% downpayment will get you the best conventional rates on the market,...
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Linda Miller
Mortgages are mixed this morning. Mortgage Bankers Association (MBA) Mortgage Applications were up 0.1% for the week ending February 27. That's compared to the previous week's decline of 3.5%. Jobs... Jobs... Jobs... ADP Employment Change came in at 212K vs. 219K consensus and effectively flat vs. 213K in December. Recently, ADP has been underestimating on average by 32K, of the last 5 reports 3 were underestimated to the 2...
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Bart Castelli
Interest rates continue to increase, on initial thought you might think we are crying wolf too much. Since 2/25 we have been saying rates will increase, so far that has proven correct; however we also pointed to key technical resistance above the current rates. Today we are there with the 10yr testing its 100 day average and a down trend line, all market momentum now is bearish. The last time the 10yr got to these levels was 2/17, then prices...
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Bart Castelli
Not a good day for the bond and mortgage markets. A particularly vicious wave of selling hit the U.S. Treasury market between rights after the opening bell all the way up to late morning. The selling was focused in the 10yr note and 30yr bond. The stock market rallied today with attention on the NASDAQ testing 5000. It has been 15 years since the index traded there - thanks Apple. The bond and MBS markets turned negative on Feb 6th- and since...
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Bart Castelli
What has been the worst month for mortgage rates in nearly two years, the market was able to scrape together some modest gains to end the month. Looks like the 10yr has closed out the week at 1.99%. This morning a too weak Chicago purchasing managers index - too weak because traders are not giving it much attention. Both the bond and MBS markets initially shrugged off both reports this morning but this afternoon improvement in both markets....
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Jason Vondrak
When buying a loan, it's important to understand your options and choose a program that's best for your unique situation. Today, homeowners have two main options: the fixed-rate mortgage (FRM) and the adjustable-rate mortgage (ARM). So what's the difference between the two? The names pretty much say it all. For the FRM, your interest rate is fixed for the life of the loan. With the ARM, your interest can change over time. Fixed...
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Bart Castelli
Mortgage rates were a bit higher this afternoon after the three reports this morning showed mix results. The market ignored the data that was released, but started to retreat after the poor showing of the 7yr note auction ended. This is the second day in a row where the demand was weak as shown with the 5yr the previous day. This morning the bellwether 10yr traded as low as 1.94% but after the 7yr auction and with GDP in the morning the rate...
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Bart Castelli
Very quiet today compared to the intraday volatility last week. The MBS market price changed very little since the open this morning as I gather the roller coaster was not out today. From my report this morning, the 10yr did decrease to 2.06%, another 3BPS. Today's only data point, January existing home sales were softer than expected. It cannot be blamed on the harsh weather in the East and Mid-west, most of the decline in sales came from...
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Conrad Ellestad
There has been some great news lately if you have financed a FHA loan within the past couple years. I am sure you are tired of paying that high premium every month that will be staying on your loan for the entire life of the loan. As of January 26th, 2015 the Government finally did home owners a favor and assisted in helping them instead of gouging them with fees. Mortgage Insurance has gone from 1.35% of your loan size loan down to.85% of the...
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Christine Schindel
When searching for a new home, most people's primary monetary concern is their mortgage payment. But the cost of your new walls and roof aren't all you'll be paying for. The next biggest house expense after your mortgage is paying for the things that help run it: utilities. In some places you could be paying over $500 a month for combined utilities. Before you decide on how much house you can afford, make sure to add up all the...
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Jason Vondrak
Defined simply, escrow is a financial instrument (i.e., funds, deeds, bonds, documents, etc.) held by a third party until certain conditions of a transaction are met. In the housing industry, escrow companies hold funds for a home sale until both the buyer and seller have fulfilled their respective conditions and responsibilities. Escrow typically opens once the purchase agreement is signed and the buyer pays their deposit. The escrow company...
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Steven Ceceri
I'm sure you've all dealt with many individuals who seem to want to have phone conversations rather than reply to your email with an email of their own. In some cases, it is just due to the fact that the person you are communicating with finds it easier to talk things over by phone and that is certainly fine, but you need to figure out when the phone calls are a means to avoid putting things in writing as that is critical to realize...
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Blake Kleckner
Well, it's about time! The Department of Housing and Urban Development (HUD) finally got some smarts and made a decision that was not only great for all homebuyers and homeowners, but also for the preservation of the FHA. After 4 mortgage insurance (MI) increases from .55% to 1.35% annually in just 2-1/2 years, the streak finally ended on 1-26-15 with a significant MI decline! There were, essentially, 2 reasons for this decision. First, Fannie...
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Bart Castelli
Mortgage rates held steady even though the morning started off a bit rough. Good news for the job markets and economic outlook - but today's report is not data that is included in the January employment data out tomorrow. The Q4 productivity decline and the increase in Q4 unit labor costs is not the end all, however with the Fed on the lookout for any increase in inflation the data is a slight bright spot for possible increase in wages that...
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Prospect Financial Group, Inc.
Mortgage rates have continued to drop this week, with the national average for the 30-year fixed rate mortgage down to 3.83% from 3.96% one week ago. The national average rate for the 5/1 adjustable-rate mortgage comes in at 3.12%. Rates are lower than expected, and continue to drop again predictions of early 2015 predictions made in 2014. Part of the reason for today's low mortgage rates has to do with bond yields. Due to investor concerns...
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Bart Castelli
Mortgage rates rode the roller coaster today after seeing big improvement from the negative economic news this morning, and then doing a complete flip back to equality by the end of the day. This seems to be the new norm as my stomach again went into knots on the reasons why this roller coaster headed north after the gains seen in the morning. The most prevalently quoted conforming 30yr fixed rates for top tier borrowers remained at 3.75% with no...
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Bart Castelli
Mortgage rates essentially did not move much today as the volatility in the market is thick enough that one could sense the anxiety in the air - and I am not talking about the 1-3 feet of snow that is attacking the Northeast. Apart from the overnight drama in Europe, there was not much going on domestically today. The net effect was an increased prevalence of 3.75% among conforming 30yr fixed rate quotes for top tier scenarios. 3.625% is still...
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Bart Castelli
Mortgage rates were all over the board today as I mentioned last week that this was going to be a volatile week. The most prevalently quoted conforming 30yr fixed rates for top tier borrowers was still at 3.75%, and 3.625%was still there with its additional fees. The bond and mortgage markets opened nicely this morning but by late morning prices started a slow drift lower.The 10yr this morning traded at 1.79% down 4 bps from last Friday. US...
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Justin Fitzhugh
We have entered 2015 with a nice running start with volumes, and plenty of Nations Lending originators and their clients are wondering what will happen to interest rates. No smart lender, or CEO, bases their companys fortunes on interest rate projections, and plenty of experts were wrong about 2014. But what is going on with borrowing costs now that Quantitative Easing (QE) is done? The United States does not operate in a vacuum and now Europes...
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Bart Castelli
Mortgage rates pulled back to slightly higher levels today as broader markets underwent a correction from relatively frenzied movement over the past few days. Unfortunately, the most prevalently quoted conforming 30yr fixed rates for top tier borrowers are now at 3.75% with some asking for 3.625% with extra fees. What the market giveth, the market can take away.... and it did today in the bond and mortgage markets. If you doubted my concern about...
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Chris Neuswanger
Is it time to refinance again? Believe it or not, it might be time to check your mortgage rate and see if it's time to refinance. The recent plunge in gas prices and the resulting economic uncertainty for oil producing nations along with a few other garden variety economic meltdowns in various stages of progression have drive investors dollars into the good ole US of A. Like it or not, love it or at least wish you could leave it, the rest of...
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Bart Castelli
Mortgage rates are heading to all-time lows that were last seen in September 2012, but we are premature in stating that we might get close to that as there is still a lot of room between those rates and today's rates. The most prevalently quoted conforming 30yr fixed rates for top tier borrowers was at 3.75% with no fees, but 3.625%did not have as much fees than what was quoted yesterday. Standing back from markets what you would see is a...
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Larry Gray
President Obama announced the reduction in the annual MIP rates by 50 BPS and the subsequent temporary case cancellation authority, affecting primarily 30 year Fixed rate FHA insured loans that are currently in the loan process and not closed. That authority enables lenders to cancel current FHA assigned case numbers so that those borrowers may take advantage of the reduction in their MIP (mortgage insurance) rates. A reduction from a factor of...
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Michael Zuren
One of the biggest obstacles in homeownership is the down payment. First-time homebuyers typically do not have the advantages of second-time buyers. Second-time buyers often have equity from the sale of their homes or investments to draw from for down payments. There are various down payment assistance programs available but they often have income, sales price, and repayment requirements. The Federal Housing Administration (FHA), Veterans...
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Derick Condron
One of the best products that not many people know about is a rehabilitation loan. The program code is 203k so that is what I will refer to it as in this post. The loan is a FHA loan. The process of qualifying for this loan is just like that of a regular FHA loan, you will need to have the income, credit and assets to qualify. You can use it as a refinance loan to do some updates on your current home or use it on a house you are purchasing to...
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David Bailey
The FHA flipping waiver was not extended at the end of the year and expired December 31, 2014, so if you are looking at purchasing a home that the current owner has owned for 90 days or less, the property is not eligible for FHA financing. Buyers, Realtors and investors need to keep this in mind when considering putting in an offer on a property or listing a property that was recently purchased. What this means is that a buyer who wishes to use...
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Stevie Duffin
President Obama and the Housing and Urban Development (HUD) office announced Thursday that new FHA borrowers whose loans are cased on or after January 26, 2015 will no longer have to pay the Federal Housing Administration's manda
Justin Fitzhugh
Later this month, Fannie Mae will release Collateral Underwriter, UCDP, to help us manage appraisal quality. The Webinars will: Equip us to user UCDPGo over new CU Scores, Flags, and Messages available in the new systemReview severity level modifications to 21 Fannie Mae proprietary messages that require lender actionDiscuss process considerations for lenders and their lender agentsGive suggestions about how we can implement the user of the new s
James Brooks
By James Brooks Today's reports send mixed signals to the bond market. The bond market is currently up 15/32 (1.96%), which should improve today's mortgage rates by approximately .250 of a discount point from Thursday's mortgage rates. Today's big news came from the Labor Department, who gave us a lot of information that has left many people scratching their heads and unable to decide if it is good or bad news. In...
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Justin Fitzhugh
Earlier today, the Mortgage Bankers Association released its Weekly Mortgage Application Survey. Despite the increase in activity for the week ending in January 2nd, together, activity took a dive in the last couple of weeks, those ending in December 26th and January 2nd. The numbers calculated by the MBA were adjusted to account for Christmas and New Years eve holidays. Thus, for the two previous weeks, in an adjusted basis, mortgage loan...
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Justin Fitzhugh
Nations Lending is carefully watching the changes in lending in 2015 some good and some not. Good or bad, it is important to know the events and trends that shape lending it is an ever-changing landscape. Starting January 1 the maximum VA loan limit will be reduced to the high balance conforming limit. Until December 31, 2014 a veteran could purchase a home in several counties in the United States for $1,050,000 with no money down. That amount...
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Chris Neuswanger
What does it take to buy a home? Buying a home anyplace is a challenge for most people and sorting out the myths from reality as to what is required can be a challenge. One of the questions I hear most often is :how much do I have to put down". The answer is "it depends:. The type of property, your financial situation, you intention for occupying the property, your credit and income all are factors particularly if you don't have or...
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Linda Miller
It could be a very happy 2015... Freddie Mac's U.S. Economic and Housing Market Outlook predicts the home-purchase market to strengthen along with the economy in 2015. Falling gas prices will likely boost consumer confidence and rents are rising faster than home prices. As the demographic wave of Millennials ages another year, more of them will start families and look to buy homes of their own. We end last year with the stock markets...
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Bart Castelli
Mortgage rates headed a little higher today, but nothing to be noticeable with the rates/fees. All in all, rates had a great year in 2014. The most prevalently quoted conforming 30yr fixed rates for top tier borrowers was still at 4.00% with no fees, but 3.875%with extra fees did seem to attract again those folks who wanted that number. Today's movement did little to change the picture. At the beginning of the year, I along with many others...
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Justin Fitzhugh
What are top Nations Lending loan officers telling their clients about the appraisal process? Some have created a table of helpful information that those refinancing can provide that will make things go more smoothly. Recent regulations have prohibited lenders & borrowers from trying to influence their appraiser, but it is important for the borrower to provide information that is important for the appraiser to consider in valuing the home....
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Bart Castelli
Mortgage rates bounced back a little bit today, erasing some of the losses we had on Wednesday, but nothing compared to what we lost on Tuesday. The most prevalently quoted conforming 30yr fixed rates for top tier borrowers was at 4.00%,but some folks still wanted the lower rate and opted for 3.875%with extra fees. Generally markets were quiet today but the stock indexes keep on climbing. The 10yr settled up at 2.26% after climbing to 2.30%...
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