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Check out the information below.  It looks like the 3.50% +/- 30-year fixed rate is here to stay.  What is your opinion?  I welcome your comments.

Stephen L. Smith, Manager

A.C.L. Mortgage Services, L.L.C.

steve@acl-mortgage.com

30 Year Mortgage Interest Rate Forecast

30 Yr Conventional Mortgage FHLMC Contract Rate. Percent Average of Month.
Month Date Forecast
Value		 50%
Correct +/-		 80%
Correct +/-
0 Feb 2013 3.530 0.00 0.00
1 Mar 2013 3.52 0.04 0.09
2 Apr 2013 3.55 0.06 0.13
3 May 2013 3.60 0.07 0.16
4 Jun 2013 3.59 0.08 0.18
5 Jul 2013 3.52 0.09 0.20
6 Aug 2013 3.41 0.10 0.22
Month Date Forecast
Value		 50%
Correct +/-		 80%
Correct +/-
0 Feb 2013 3.530 0.00 0.00
1 Mar 2013 3.52 0.04 0.09
2 Apr 2013 3.55 0.06 0.13
3 May 2013 3.60 0.07 0.16
4 Jun 2013 3.59 0.08 0.18
5 Jul 2013 3.52 0.09 0.20
6 Aug 2013 3.41 0.10 0.22
Month Date Forecast
Value		 50%
Correct +/-		 80%
Correct +/-
0 Feb 2013 3.530 0.00 0.00
1 Mar 2013 3.52 0.04 0.09
2 Apr 2013 3.55 0.06 0.13
3 May 2013 3.60 0.07 0.16
4 Jun 2013 3.59 0.08 0.18
5 Jul 2013 3.52 0.09 0.20
6 Aug 2013 3.41 0.10 0.22
Updated Saturday, March 09, 2013

30 Year Conventional Mortgage Interest Rate

Past Trend Present Value & Future Projection

Mortgage Interest Rate

 

Current Money Rates

March 12, 2013 (Close of Day)

Indicator

Value

Prime Rate 3.25
30 Year T-Bond 3.22
10 Year T-Note 2.03
91 Day T-Bill 0.10
Fed Funds 0.16
London EuroDollar 1 Month 0.23
Mortgage Rate 30 Year 3.52

Posted by Stephen L. Smith on March 13th, 2013 1:50 PMPost a Comment (0)

Check out the information below.  What is your opinion?  I welcome your comments.

Stephen L. Smith, Manager

A.C.L. Mortgage Services, L.L.C.

steve@acl-mortgage.com

30 Year Mortgage Interest Rate Forecast
30 Yr Conventional Mortgage FHLMC Contract Rate. Percent Average of Month.
Month Date Forecast
Value		 50%
Correct +/-		 80%
Correct +/-
0 Jun 2012 3.680 0.00 0.00
1 Jul 2012 3.61 0.04 0.09
2 Aug 2012 3.47 0.05 0.12
3 Sep 2012 3.59 0.06 0.13
4 Oct 2012 3.68 0.07 0.15
5 Nov 2012 3.75 0.07 0.16
6 Dec 2012 3.82 0.08 0.17
Updated Thursday, July 05, 2012

All forecasts are provided AS IS, and FFC disclaims any and all warranties, whether express or implied, including (without limitation) any implied warranties of merchantability or fitness for a particular purpose.


Click Here to get the rest of the story with the Long Range forecasts

30 Year Conventional Mortgage Interest Rate

Past Trend Present Value & Future Projection
Mortgage Interest Rate
Other Links of Interest:
A long range forecast for this or similar economic series is available by subscription

Current Money Rates

July 25, 2012 (Close of Day)

Indicator

Value

Prime Rate 3.25
30 Year T-Bond 2.45
10 Year T-Note 1.42
91 Day T-Bill 0.10
Fed Funds 0.15
London EuroDollar 1 Month 0.31
Mortgage Rate 30 Year 3.53
Posted by Stephen L. Smith on July 26th, 2012 2:27 PMPost a Comment (0)

Check out the information below.  What is your opinion?  I welcome your comments.

Stephen L. Smith, Manager

A.C.L. Mortgage Services, L.L.C.

steve@acl-mortgage.com

 

30 Year Mortgage Interest Rate Forecast through September, 2012

30 Year Mortgage Interest Rate Forecast

30 Yr Conventional Mortgage FHLMC Contract Rate. Percent Average of Month.

Month Date Forecast
Value		 50%
Correct +/-		 80%
Correct +/-
0 Mar 2012 3.950 0.00 0.00
1 Apr 2012 3.97 0.04 0.09
2 May 2012 4.03 0.05 0.12
3 Jun 2012 4.24 0.06 0.13
4 Jul 2012 4.35 0.07 0.15
5 Aug 2012 4.56 0.07 0.16
6 Sep 2012 4.65 0.08 0.17
Updated Tuesday, May 8, 2012

All forecasts are provided AS IS, and FFC disclaims any and all warranties, whether express or implied, including (without limitation) any implied warranties of merchantability or fitness for a particular purpose.

Click Here to get the rest of the story with the Long Range forecasts

30 Year Conventional Mortgage Interest Rate

Past Trend Present Value & Future Projection

Mortgage Interest Rate

A long range forecast for this or similar economic series is available by subscription

Current Money Rates

May 07, 2012 (Close of Day)

Indicator

Value

Prime Rate 3.25
30 Year T-Bond 3.07
10 Year T-Note 1.91
91 Day T-Bill 0.09
Fed Funds 0.16
London EuroDollar 1 Month 0.31
Mortgage Rate 30 Year 3.84

Posted by Stephen L. Smith on May 8th, 2012 12:08 PMPost a Comment (0)

Check out the information below.  What is your opinion?  I welcome your comments.

Stephen L. Smith, Manager

A.C.L. Mortgage Services, L.L.C.

steve@acl-mortgage.com

 

30 Year Mortgage Interest Rate Forecast through September, 2012

30 Year Mortgage Interest Rate Forecast

30 Yr Conventional Mortgage FHLMC Contract Rate. Percent Average of Month.
Month Date Forecast
Value		 50%
Correct +/-		 80%
Correct +/-
0 Mar 2012 3.950 0.00 0.00
1 Apr 2012 3.97 0.04 0.09
2 May 2012 4.03 0.05 0.12
3 Jun 2012 4.24 0.06 0.13
4 Jul 2012 4.35 0.07 0.15
5 Aug 2012 4.56 0.07 0.16
6 Sep 2012 4.65 0.08 0.17
Updated Wednesday, April 18, 2012

All forecasts are provided AS IS, and FFC disclaims any and all warranties, whether express or implied, including (without limitation) any implied warranties of merchantability or fitness for a particular purpose.


Click Here to get the rest of the story with the Long Range forecasts

30 Year Conventional Mortgage Interest Rate

Past Trend Present Value & Future Projection
Mortgage Interest Rate
Other Links of Interest:
A long range forecast for this or similar economic series is available by subscription
Click here for more information or to subscribe now

Current Money Rates

April 17, 2012 (Close of Day)

Indicator

Value

Prime Rate 3.25
30 Year T-Bond 3.14
10 Year T-Note 2.01
91 Day T-Bill 0.08
Fed Funds 0.15
London EuroDollar 1 Month 0.33
Mortgage Rate 30 Year 3.88

 

Posted by Stephen L. Smith on April 18th, 2012 11:31 AMPost a Comment (0)

Check out the information below.  What is your opinion?  I welcome your comments.

Stephen L. Smith, Manager

A.C.L. Mortgage Services, L.L.C.

steve@acl-mortgage.com

 

30 Year Mortgage Interest Rate Forecast

30 Yr Conventional Mortgage FHLMC Contract Rate. Percent Average of Month.
Month Date Forecast
Value		 50%
Correct +/-		 80%
Correct +/-
0 Nov 2011 3.990 0.00 0.00
1 Dec 2011 4.05 0.05 0.11
2 Jan 2012 4.11 0.06 0.14
3 Feb 2012 4.15 0.08 0.17
4 Mar 2012 4.21 0.08 0.19
5 Apr 2012 4.27 0.09 0.20
6 May 2012 4.39 0.10 0.22
7 Jun 2012 4.51 0.10 0.23
8 Jul 2012 4.63 0.11 0.24
Updated Wednesday, December 07, 2011

All forecasts are provided AS IS, and FFC disclaims any and all warranties, whether express or implied, including (without limitation) any implied warranties of merchantability or fitness for a particular purpose.


Click Here to get the rest of the story with the Long Range forecasts

30 Year Conventional Mortgage Interest Rate

Past Trend Present Value & Future Projection
Mortgage Interest Rate
Other Links of Interest:
A long range forecast for this or similar economic series is available by subscription
Click here for more information or to subscribe now

Current Money Rates

December 12, 2011 (Close of Day)

Indicator

Value

Prime Rate 3.25
30 Year T-Bond 3.05
10 Year T-Note 2.02
91 Day T-Bill 0.01
Fed Funds 0.07
London EuroDollar 1 Month 0.35
Mortgage Rate 30 Year 3.99
Posted by Stephen L. Smith on December 13th, 2011 12:10 PMPost a Comment (0)

December 2nd, 2011 11:54 AM
Check out the information below.  What is your opinion?  I welcome your comments.

Stephen L. Smith, Manager

A.C.L. Mortgage Services, L.L.C.

steve@acl-mortgage.com

 

30 Year Mortgage Interest Rate Forecast

Month Date Forecast
Value		 50%
Correct +/-		 80%
Correct +/-
0 Oct 2011 4.070 0.00 0.00
1 Nov 2011 4.00 0.05 0.11
2 Dec 2011 4.05 0.06 0.14
3 Jan 2012 4.11 0.08 0.17
4 Feb 2012 4.15 0.08 0.19
5 Mar 2012 4.21 0.09 0.20
6 Apr 2012 4.27 0.10 0.22
7 May 2012 4.39 0.10 0.23
8 Jun 2012 4.51 0.11 0.24

Updated Thursday, December 1, 2011

All forecasts are provided AS IS, and FFC disclaims any and all warranties, whether express or implied, including (without limitation) any implied warranties of merchantability or fitness for a particular purpose.


30 Year Conventional Mortgage Interest Rate

Past Trend Present Value & Future Projection

Mortgage Interest Rate

Other Links of Interest:
  • 30 Year Mortgage Rate Historical Data
  • 30 Year Mortgage Rate Extended Forecast by subscription
  • 3 Month LIBOR Rate Forecast
  • 6 Month T-Bill Yield Forecast
  • 1 Year Treasury Yield Forecast
  • Prime Interest Rate Forecast
  • 30 Year T-Bond Yield Forecast
  • FHLMC or Freddie Mac's Website for Current Mortgage Rates

Current Money Rates

December 01, 2011 (Close of Day)

Indicator

Value

Prime Rate 3.25
30 Year T-Bond 3.09
10 Year T-Note 2.10
91 Day T-Bill 0.01
Fed Funds 0.10
London EuroDollar 1 Month 0.35
Mortgage Rate 30 Year 4.00

Posted by Stephen L. Smith on December 2nd, 2011 11:54 AMPost a Comment (0)

November 7th, 2011 10:48 AM

Check out the information below.  What is your opinion?  I welcome your comments.

Stephen L. Smith, Manager

A.C.L. Mortgage Services, L.L.C.

steve@acl-mortgage.com

 

by Matthew Graham
Rates Hold Steady After Jobs Report
Nov 4 2011, 2:25PM

Despite earlier market volatility surrounding the important Employment Situation Report this morning, things have evened out into the afternoon and Mortgage Rates are essentially unchanged from yesterday's levels.  Some lenders still have pricing set slightly worse than yesterday's while others are slightly improved.  The net effect is someone of a consolidation around the 4.0% Best-Execution level.

Today's Rates: 

  • BESTEXECUTION 30YR FIXED -   Centered on 4.0%
  • FHA/VA - 3.75, fewer 3.875%
  • 15 YEAR FIXED -  3.375%-3.5%
  • 5 YEAR ARMS -  low 3% range, huge variations from lender to lender.

Today's Guidance: The jobs report is out of the way, which is a good thing for mortgage rates in the sense that it helps decrease volatility.  But there's still a few potential hiccups left in terms of finding out exactly what is going on with Greece and the Euro zone drama.  There's a vote scheduled to take place later on parliament's level of confidence in George Papandreou's leadership.  Depending on how that goes, there could be implications as to Greece's acceptance of the austerity terms that allow it to receive financial aid and avoid a more dire version of the default that many already see as having happened.  Phew...  That's a whole lot of nonsense, right?  We think so too, but can't overlook the fact that our domestic market movements continue to hang on every little headline that comes out of that situation.  As such, "stuff that happens later today in Europe" could have an impact on Monday's rate sheets in the US.  With rates at 4.0% today, risks outweigh rewards for now in terms of floating. 

Posted by Stephen L. Smith on November 7th, 2011 10:48 AMPost a Comment (0)

June 22nd, 2011 11:02 AM

Check out the information below.  What is your opinion?  I welcome your comments.

Stephen L. Smith, Manager

A.C.L. Mortgage Services, L.L.C.

steve@acl-mortgage.com

 

June 8, 2011, 5:11 PM ET

Why Bill Gross insists interest rates are going up!!!

Bill Gross, founder of PIMCO, says the differences between the U.S. and Japanese economies show why interest rates here have nowhere to go but up.

Speaking at the Morningstar Investor Conference, Gross noted that U.S. Treasuries are yielding 1.55%. 'Compare it to the Japanese market which we know is a moribund, dead, lost-decade kind of economy,' Gross said, 'and the Japanese bond yields .8%. Here we have the US with a dynamic economy, … with respect to their Treasury departments, the U.S. and Japan are just 80 or 90 basis points apart.'

'Unless we cataclysmically black-hole our economy and drive it far into further recession, it’s hard to see how we could drive [domestic] interest rates much lower.'

Bond rates fell Wednesday on continuing fears of a slowdown in the U.S. economy following downbeat comments from Fed Chairman Ben Bernanke Tuesday.  Yields on 10-year Treasurys 10-YEAR fell below 3%,  while those on the 2-year note 2-YEAR flirted with their all-time lows, set last November.

Gross has been an outspoken bear on U.S. Treasurys in recent months, arguing that they don’t reward investors enough for the risk they carry."

-Chuck Jaffe

Posted by Stephen L. Smith on June 22nd, 2011 11:02 AMPost a Comment (0)

May 6th, 2011 2:53 PM

Check out the information below.  What is your opinion?  I welcome your comments.

Stephen L. Smith, Manager

A.C.L. Mortgage Services, L.L.C.

steve@acl-mortgage.com

Mortgage rates plunge

By Polyana da Costa • Bankrate.com

Mortgage rates fell this week as investors sought safety, amid concerns of global instability and the still-weak economy.

Mortgage rates for May 4, 2011
Find the best mortgage rates in your area.

The benchmark 30-year fixed-rate mortgage fell 7 basis points this week, to 4.88 percent, according to the Bankrate.com national survey of large lenders. A basis point is one-hundredth of 1 percentage point. The mortgages in this week's survey had an average total of 0.35 discount and origination points. One year ago, the mortgage index was 5.12 percent; four weeks ago, it was 5.08 percent.

The benchmark 15-year fixed-rate mortgage fell 9 basis points, to 4.05 percent. The benchmark 5/1 adjustable-rate mortgage fell 13 basis points, to 3.56 percent.

 

Weekly national mortgage survey

Results of Bankrate.com's May 4, 2011, weekly national survey of large lenders and the effect on monthly payments for a $165,000 loan:

  30-year fixed 15-year fixed 5-year ARM
This week's rate: 4.88% 4.05% 3.56%
Change from last week: -0.07 -0.09 -0.13
Monthly payment: $873.69 $1,224.62 $746.46
Change from last week: -$7.03 -$7.47 -$12.07
 
What would the monthly payment be for you? Use Bankrate's mortgage calculator to find out.
 

The adjustable rates fell more than expected this week because one of the lenders surveyed by Bankrate.com revamped its line of mortgage products.

After dropping for four weeks in a row, fixed rates have reached their lowest since Bankrate's Dec. 1 survey, when the benchmark 30-year fixed was 4.71 percent.

"There seems to be a lot of forces coming together to keep rates low," says Dan Green of Waterstone Mortgage in Cincinnati.

Bin Laden's death

One factor that may contribute to keeping rates low for now is the fear of potential retaliation from terrorist groups after the death of Osama bin Laden. The United States kept its official threat level unchanged after the al-Qaida leader was killed in a U.S. raid in Pakistan this week, but security at many airports and subways was heightened.

While the killing of bin Laden itself did not have a direct and immediate impact on rates, the threat of potential retaliation is likely to affect rates, Green says.

"Any unexpected event, especially terrorism threats, tends to have a very deep impact on rates," Green says. "It's bad for the stock markets and good for the bond markets," and that normally leads to lower rates.

That's because during times of political uncertainty, nervous investors tend to pull money out of riskier investments, such as the stock market, and seek safer investments such as Treasury bonds. The higher demand for bonds causes yields to drop. Mortgage rates normally follow bond yields.

"Any time you have concerns or additional threats, you'll see a higher concentration of people investing in higher-quality, safer assets," says Cameron Findlay, chief economist at LendingTree.

Bad news for Europe means good news for mortgages

Another international event that may influence mortgage rates in the United States is the Greek debt crisis, Green says.

"To me, the Greece story is having the biggest impact," in driving investors into the U.S. bond market, he says.

Greece received a bailout of $160 billion last year but continues to struggle with its debt, which represents about 150 percent of its gross domestic product.

Ireland and Portugal also are in deep financial trouble.

While the U.S. economy is bad, the U.S. debt is still perceived as a much safer investment than the debt of some European countries, Findlay says.

"When you are swimming from a shark you don't have to be the fastest swimmer," Findlay says. "You just have to be faster than the guy next to you. As bad as the U.S. economy is performing, it is still performing better than the Greek economy."

Slow economy

Michael Moskowitz, president of Equity Now in New York, says the main driver for the near-record low rates is the bad economy.

"There is no great news from anywhere," he says. "People are realizing the stimulus didn't do as much as they were hoping for. Combine that with gas prices going up; residential real estate still in decline and that puts everybody on a somber mood."

The GDP growth rate, which is one of the most important indicators of economic health, was released last week showing the rate slowed in the last quarter to 1.8 percent compared to the 3.1 percent annual growth rate seen in the fourth quarter of 2010.

Moskowitz says he he expects rates to remain low in the short term, but it's prudent to lock a low rate now.

"Friday's employment figures are going to be telling and could impact rates," he says. "I think the numbers that are coming out for April will be disappointing, but if they are better than we expect, it could bounce rates up. So don't play the market."

Green agrees.

"It's a good idea to lock," he says. "We are just one announcement away for rates to rise."



Read more: Mortgage rates plunge to 5-month low http://www.bankrate.com/finance/mortgages/rates-reach-5-month-low.aspx#ixzz1LbEy9kgb
Posted by Stephen L. Smith on May 6th, 2011 2:53 PMPost a Comment (0)

April 26th, 2011 11:55 AM

Check out the information below.  What is your opinion?  I welcome your comments.

Stephen L. Smith, Manager

A.C.L. Mortgage Services, L.L.C.

steve@acl-mortgage.com

 

Mortgage Rates: Wait and See Mode
BY MATTHEW GRAHAM

Best Execution mortgage rates have moved into a holding pattern ahead of a high-risk event in the week ahead. It's going to take a sustained effort, catalyzed by something such as Wednesday's FOMC Announcement (Fed Rate Decision) if Best Execution mortgage rates are to break their current barriers.   We discussed those barriers in THIS POST.

CURRENT MARKET: The "Best Execution" conventional 30-year fixed mortgage rate is 4.875%. If you are looking to move down to 4.75%, this offer carries higher closing costs but could be worth it to applicants who plan on keeping their new mortgage outstanding for longer than the next 10 years.  Some lenders are beginning to price loans more aggressively because competition is tight, so scattered sightings of 4.75% are possible, but not on a wide-spread basis. Ask your loan officer to run a break-even analysis on any origination points they might require to cover permanent float down fees. On FHA/VA 30 year fixed "Best Execution" is still 4.75%.  15 year fixed conventional loans are best priced at 4.25%. Five year ARMs are still seen best priced at 3.50% but the ARM market is more stratified and there is more variation in what will be "Best-Execution" depending on your individual scenario. 

PREVIOUS GUIDANCE: Today's market movements did nothing to change the guidance we presented yesterday which suggested two possibilities.  The first possibility is that that recent improvements in rates are on hold until after next week's FOMC Announcement (Fed meeting) as past precedent suggests that bond markets may fear the Fed will indicate some sort of acceleration of rate hike prospects, which would be negative for rates.  The other possibility is that the announcement will contain no such "scary" indication, which suggests rates either return to current levels or improve.  Either way, we view floating as risky given the uncertainty of that situation in combination with the fact that the 4.875% Best-Execution rate which we know will be a hard barrier to break.  So although longer term, more flexible outlooks can still float in speculation of further gains, the upside is limited enough for shorter term outlooks to favor locking.

CURRENT GUIDANCE: The "holding pattern" continues, and borrowing costs are nearly as low as they can go without another shift in the Best-Execution rate.  We've talked about why that is the case many times over the past four months.  If you have the flexibility to wait until Thursday morning to see how rates fared after Wednesday's Fed Announcement, that's allowable even if it's not advisable due to the limited nature of potential gains. We say that because we  do think it's possible the Fed signals a less optimistic outlook this week, which would be supportive of an improvement in Best Execution Mortgage Rates.  Either way, we view floating as risky given the uncertainty of that situation in combination with the fact that the 4.875% Best-Execution rate which we know will be a hard barrier to break.  So although longer term, more flexible outlooks can still float in speculation of further gains, the upside is limited enough for shorter term outlooks to favor locking. We are definitely in "wait and see" mode until then....

Posted by Stephen L. Smith on April 26th, 2011 11:55 AMPost a Comment (0)
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