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     What Makes Peak Home Loans Different From All Other Mortgage Companies?  1.) We are a wholesale mortgage broker offering wholesale rates to our clients.  2.) We are driven by the most powerful, efficient, and professional home lending network in the United States.  3.)  We just assembled the ultimate state-of-the-art home lending network in the United States.  This guarantees everyone the lowest rate and best terms regardless of their credit history.  See what our wholesale mortgage brokerage can do for you versus what a bank or retail broker can:

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Today's Mortgage News Brought To You By Peak Home Loans
Wednesday, September 28, 2016 (updated daily)

Mortgage Refinance & Home Purchase Rates Remain Low And Steady In Light Of Bright Jobs Report

     Mortgage rates continued to remain low in spite of the better-than-predicted US job growth for last month.  Thirty-year US Treasury rates rose this month from 2.24% to 2.27%.  And as we know, mortgage rates usually decrease when Treasury bond rates decrease.  The housing market's recovery is continuing as far as sales, home prices and mortgage applications go.  In fact, latest reports show sales of existing homes increased 1.8% for the month of July.  Median US home prices rose 5.4% to $186,630.00 for June.  Mortgage applications rose 2.2% this week according to the Mortgage Bankers Association's (MBA).

     However, these low rates may not be around for long, volatility is always just around the corner.  Recent events put today's average 30-year fixed-rate conventional loan at 3.42%, up only 1 basis point from last week.  It may be wise to lock in your rate now (rather than floating) and refinance your mortgage, or buy a new home now, thus guaranteeing against any rate increase that would cause your monthly payments to increase.

For The Week Ending Wednesday, September 28, 2016:

• Thirty-year fixed-rate-mortgages (FRM's) averaged 3.42% with 0.5 discount and origination points for an APR of 3.46%.  That is up 1 basis point from a week ago.  At this time one week ago, the thirty-year FRM was approximately 3.41%, the first of the year, 3.97%.  Today, your average payment on a $100k mortgage would be $444.85 per month, plus fees, taxes and insurance.
• Fifteen-year fixed-rate-mortgages (FRM's) are 2.72% for the week.  That's the down 2 basis points from a week ago, the beginning of the year the rate was 3.26%.  Your monthly payment on a $100k refinance or new mortgage over 15 years would be $677.344, not including insurance and taxes.
• Five-year adjustable-rate-mortgages (ARM's) averaged 2.76%.  That's up 8 basis points from a week ago when they were 2.68%, the first of the year rates were 3.09%.  For example, your monthly payment on a $100,000.00 new home loan or mortgage refinance over the first 5 years would be $408.93 principal and interest only, homeowners insurance and property taxes will be added.  After 5 years your rate will almost always go up.

Home Mortgage Interest Rate Trend Prediction For The Upcoming Week:

     According to a survey of our home loan experts, for the upcoming week, Wednesday, September 28, 2016 to Tuesday, October 04, 2016, 19 percent believe home loan and refinance mortgage rates will rise over the next week, 12 percent think mortgage and refinance rates will fall, and 69 percent believe mortgage rates will remain relatively unchanged (+/- 2 basis points).  Survey results are provided weekly.  Please come back often to see how accurate the experts fared.  Last week, interest rates were up 1 basis points and 78 percent picked correctly.  As you can see, mortgage experts believe rates might rise this coming week, you may want to act accordingly.  Currently, we at Peak Home Loans suggest locking in your mortgage NOW before rates rise out of sight.  Better to be safe than sorry.

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