Home Loan Interest Rates, Refinance Loans and Related Topics For Wednesday November 21, 2012

House hunters and home loan refinance applicants who pay attention to mortgage interest rates looking for the most advantageous interest were likely confused and troubled by today’s market activity. By all reports, mortgage loan interest rates fluctuated wildly, with some financial institutions offering positive reports at the same time others were negatively revising their rates.
Many negative reports came in at the end of the trading day, due in part to varying price strategies implemented in the days leading up to the holiday break.

The net result of all the back-and-forth of the market? Rates wound up being more or less the same as yesterday’s reported best-execution interest rates, with closing costs nudging up and down slightly depending on the lender.
According to some reports, the overall trading in mortgage-backed securities—the factor that can directly influence mortgage loan interest rate changes—has been narrow and there have been no serious rate swings in the mortgage interest rates. But some lenders advise acting now on interest rate locks, saying historically in the last few years interest rates do trend downward this time of year, but rates trend toward “worsening” as the year draws to a close. Borrowers looking for an interest rate lock over the holiday season should know markets are closed tomorrow for Thanksgiving and some lenders may or may not accept your application for an interest rate lock-in commitment on Black Friday.

Here are the mortgage loan interest rates for Wednesday November 21, 2012
30-year fixed interest conventional: 3.375%
FHA/VA interest rates: 3.25% (these rates demonstrate more variation between lenders than conventional 30-year loans.)
15-year fixed rate interest: 2.875% - 2.75%
5-year adjustable rate mortgages: 2.625-3.25% (again, depending on the financial institution.)

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