Mortgage rates this week~

Today's Rates
June 15, 2012
PRODUCT
0 pts
w/pts
30 Yr Fixed
3.75%
3.5%
+1.0pt
FHA 30 Yr Fixed
3.625%
3.375%
+1.0pt
5 Yr ARM
2.75%
2.5%
+1.0pt
7 Yr ARM
3.0%
2.625%
+1.0pt
5 Yr Jumbo ARM*
3.0%
2.625%
+1.0pt
7 Yr Jumbo ARM*
3.25%
2.875%
+1.0pt
* Up to $1.5 million
– – – – –
This information is for real estate professionals only and is not intended for distribution to consumers.
– – – – –
Rates fluctuate and are always subject to credit approval. These rates are based on FICO scores of 740 and greater and loan amounts of at least $200k.
– – – – –
Conforming ARM’s assume 25% down payment.
– – – – –
All loans assume no origination fee.

As my valued business partner, I want to keep you informed with the latest news. Feel free to contact me for more details!

Jessie Thompson
Jessie Thompson
Certified Mortgage Planning Specialist
303.302.3840 direct
303.449.4455 fax
jthompson@pmglending.com
www.jessiethompson.com
Straight Stats
Mortgage interest rates improved this past week as uncertainty in Europe continues and U.S. economic data was generally weaker than expected. Spain became the fourth EU member to receive bailout funds, receiving $125 billion to help stabilize its banks. There are concerns that Italy will need funds to help its banks as well. On Sunday, Greece will effectively vote on whether to stay in the EU. In the U.S., May Retail Sales, weekly jobless claims, the New York Empire State Manufacturing Index, May Capacity Utilization and Industrial Production, and the University of Michigan Consumer Sentiment Index were all weaker than expected. As a result, there are increasing expectations that the Fed will announce another easing at its FOMC meeting next week. Also of note, the Treasury auctioned $66 billion in 3 Year Notes, 10 Year Notes, and 30 Year Bonds which were met with okay demand by markets.
Commentary
Now we wait. At 2:30 ET Sunday come Greek election results and who-knows-what explosion at the opening of Asian markets Sunday night. More likely: a few more frozen days to digest the results, and any number of empty cans kicked into nearby walls. The biggest event next week will be the Wednesday conclusion of the Fed’s meeting. The stock market this week began to trade up on bad news (a small rise in unemployment claims, a dinky drop in industrial production) on the assumption that bad news would mean QE3 from the Fed, which must be good news for stocks no matter how ugly the reality might be. Last week I compared this market-think to trained seals, and today I apologize to seals everywhere. Pick a more appropriate critter. If you took Psych I, you discovered that you could get a lab rat to sell its soul for a dozen Rice Krispies. Rats conditioned to central bank action are found not just in neckties at the NYSE, but all over the globe.
Key Measures

CURRENT
LAST WEEK
Dow Jones Ind. Avg.
12,722.29
12,528.43
10 year U.S. Treasury
1.579
1.629
WSJ Prime Rate
3.25
3.25
1 year LIBOR
1.07120
1.06970
Next Week's Indicators

RELEASE DAY
Housing Starts
Tuesday
FOMC Meeting Announcement
Wednesday
Existing Home Sales
Thursday
Jobless Claims
Thursday

Premier Mortgage Group

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