Mortgage Rates Back in Line With 3 Year Lows

Mortgage rates moved lower today as MBS (the mortgage-backed securities that determine the value of mortgages on the secondary market) improved relative to US Treasuries.  That’s NOT a common occurrence recently!  When Treasury yields have moved quickly to long-term highs or lows, MBS tend to lag the move noticeably.  As 10yr yields moved even lower at the start of this week, it would be an understatement to say MBS were underperforming.

These things happen, however, and the current iteration fits well with precedent.  Previous experience suggests TIME and MARKET STABILITY will help the mortgage market close the gap.  As of this afternoon, Treasuries haven’t made a new low yield for the 2nd straight day.  They’ve also held inside a narrower range on each of the past 2 days (stability!).  MBS took the opportunity to trade just a bit more optimistically than their Treasury benchmarks.  This isn’t a big deal or the source of a major change in rate momentum–just evidence that mortgage rates could eventually move a bit lower if current trading levels in Treasuries can be sustained.

• 30YR FIXED – 3.5 – 3.625%
• FHA/VA – 3.25-3.5%
• 15 YEAR FIXED – 3.125 – 3.375%
• 5 YEAR ARMS –  3.375-3.75% depending on the lender

Information Sourced:

http://www.mortgagenewsdaily.com/consumer_rates/920107.aspx

We are partnered with over 100 direct lenders, multiple pools of private investors, 2 thrifts that fund on Wall Street, a hedge fund with billions to lend, and 21 Life Companies.

Recap of our Loan Products:

1. Hard Money Loans (28-35% down / minimal documentation) Typically Fund in 7-10 days.
2. Stated Income Loans (Great for business owners and self employed ) No tax returns!
3. 100% financing is available (we can cross collateralize other properties if there is enough equity)
4. Investor Cash Flow Loan – No tax returns or DTI calculation! Based on subject property cash flow – 1% DCR!
5. Flipper & Rehab Loans (Flip a property with one of our many options)
6. 2^nd Position Loans up to $5mm
7. Raw Land & Lot Loans
8. Ground up Construction for spec homes, custom homes and commercial ground up.
9. Farms, Vineyards, Ranches and Agricultural Properties (25-30% down)
10. 5% down Jumbo’s with NO MI up to $2mm / 10% down up to $3mm
11. Manufactured Housing / Mobile Homes (20% down / 600+ credit score)
12. Acreage Properties
13. Commercial Loans up to $500mm
14. 3% & 5% down Conventional Loans– LPMI (Lender paid mortgage insurance)
15. Foreign Nationals Loans (no social security or residency required)

We also offer:

1. 10, 15, 20, 25, 30 year Fixed, Conventional Conforming Loans (under $417k)
2. High Balance Conforming aka Super Conforming (from $453,100-$649,750)
3. Jumbo’s to $10 Million / Super low rates! / 10% down Jumbo to $3mm
4. FHA, VA, USDA
5. ARM’s
6. Reverse mortgages up to $1 Million Value
7. Refinance including Cash Out

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