VMG Weekly Rate Tracker – 08/26/2015

August 26, 2015
Vantage Mortgage Group
Industry, Interest Rates, Mortgage, Weekly Rate Tracker

DATE: Wednesday, August 26th, 2015

TIME: 5:00 PM PST

STATES: OREGON & WASHINGTON

CHANGE THIS WEEK: SLIGHTLY WORSE (since last Wednesday)

SUGGESTION: LOCK – Market will continue to be volatile, keep close watch (see below for more commentary)

VMG’S FIXED RATE PRICING OPTIONS (rates subject to change)

Contact Loan Consultant for customized QUOTE.

You can also run your scenario in our online PRICING ENGINE.

GREEN = LENDER CREDIT BACK TO YOU (to apply to any 3rd party closing costs or prepaids) BASED OFF % OF LOAN AMOUNT

RED = OPTIONAL BUY-DOWN BASED OFF % OF LOAN AMOUNT

[[[CONTACT US FOR ADDITIONAL PROGRAM QUOTES SUCH AS CONFORMING HIGH BALANCE, ARMs, JUMBO, USDA, ETC.]]]

*Rates change daily. Conforming interest rate samples based off $260,000 loan amount, 80% Loan to Value, 740 or higher FICO score, with impounds on a 30 day rate lock period and $895 underwriting fee if not covered by lender rebates. FHA 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.

Wednesday’s bond market has opened in negative territory again following stronger than expected manufacturing data and another round of early sizable stock gains. Stocks are up big again during early trading as they were yesterday before closing in negative ground. The Dow is currently up 247 points while the Nasdaq is showing a 77 point gain. The bond market is currently down 12/32 (2.12), which should push this morning’s mortgage rates higher by approximately .125 of a discount point.

Float / Lock Recommendation

If I were considering financing/refinancing a home, I would…. Lock if my closing was taking place within 7 days… Lock if my closing was taking place between 8 and 20 days… Lock if my closing was taking place between 21 and 60 days… Lock if my closing was taking place over 60 days from now… This is only my opinion of what I would do if I were financing a home. It is only an opinion and cannot be guaranteed to be in the best interest of all/any other borrowers.

www.VantageMortgageGroup.com

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