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Updated Interest Rates

VMG Weekly Rate Tracker – 12-09-2014

 NMLS# 35986    
VMG Weekly Rate Tracker- Your Local Mortgage Leaders (sharing is caring)
DATE:  Tuesday, December 9th, 2014
TIME:  11:15 AM PST
STATES:  OREGON & WASHINGTON
CHANGE THIS WEEK: STAGNANT (from last Tuesday)
GET YOUR FAST CUSTOM RATE QUOTE–  HERE
SUGGESTION:  LOCK/BE IN POSITION TO LOCK –  Keep a close eye and get updates from your Loan Consultant (see below for more commentary)
VMG CLIENT’S FIXED RATE PRICING OPTIONS  (rates subject to change)
***Below rate optional pricing has NO additional lender-related fees (i.e. processing, underwriting, application, etc.).  Lender credits below result in (negative) lender fees applied toward 3rd party fees or prepaids (taxes, insurance, interest).  Contact Loan Consultant for personalized quote.
GREEN = LENDER CREDIT BACK TO YOU BASED OFF % OF LOAN AMOUNT
RED = OPTIONAL BUY-DOWN BASED OFF % OF LOAN AMOUNT
CONTACT US FOR ADDITIONAL PROGRAM QUOTES (OTHER FIXED TERMS, ARMs, JUMBO, USDA, ETC.)
*Rates change daily.  Conforming interest rate samples based off $240,000 loan amount, 75% Loan to Value, 740 or higher FICO score, with impounds on a 30 day rate lock period.  FHA/VA based off 3.5% down payment, but other same variables.  Costs or credits shown pertain to interest rate and do not include any other applicable 3rd party title and escrow charges or prepaid tax and insurance reserves which may or may not apply.  Lock period suggested depends on current loan volume and lending climate at time of loan application and approval.  Other risk-based pricing adjustment may apply.  The displayed annual percentage rates (APRs) include total points and additional prepaid finance charges but do not include other closing costs.   On adjustable-rate loans, rates are subject to increase over the life of the loan.   Learn more about assumptions and APR Information. Loan pricing may only be locked through a home loan consultant to be effective.  Rates will depend in part on your unique credit history and transaction characteristics. Please email or call for updated pricing at anytime as rates and pricing are subject to change. This information does not constitute a loan commitment or approval.
 
Rate Lock Advisory – Tuesday Dec. 9th 


Tuesday’s bond market has opened in positive territory due to strong selling in stocks. The major stock indexes are posting sizable losses with the Dow down 146 points and the Nasdaq down 24 points. The bond market is currently up 15/32 (2.20%), which should improve this morning’s mortgage rates by approximately .250 of a discount point is comparing to yesterday’s morning pricing.

Today also has nothing of relevance scheduled for release, leaving bond direction to be mostly dictated by stock trading. That is a good thing this morning as stocks are reacting negatively to concerns about global economic growth. As stocks fall, bonds become more appealing to investors for their safety. However, if the safe-haven shift is short-lived, the bond gains that came with it usually unwinds, causing rates to move higher quickly.

Tomorrow morning doesn’t have anything for us to address either. But it does have the first of this week’s two Treasury auctions that have a decent chance of affecting mortgage rates. 10-year Treasury Notes will be auctioned tomorrow while 30-year Bonds will be sold Thursday. Results of the sales will be posted at 1:00 PM ET each day. If they are met with a strong demand from investors, particularly international buyers, we should see strength in the broader bond market and improvements to mortgage pricing during afternoon hours those days. On the other hand, a weak interest in the auctions could lead to upward revisions to mortgage rates.

There still is plenty to drive bonds and mortgage rates this week. There are only three monthly economic reports scheduled, but two of them (Retail Sales and PPI) are considered to be highly important. I suspect we will see an active couple days at the end of the week in terms of mortgage rate movement.

Harris Consulting, Inc. DBA Vantage Mortgage Group, Inc.

 

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