News From 1st Rate Mortgage Services LLC

The theme seems to be recovery. Good news about the US economy as well as the European economy is prompting investors to move out of the bond market and into the stock market. Remember; when the stock market goes up rates will typically go up as well. Rates hit the floor in the latter part of 2012 and are headed back up now. On Monday rates managed to climbed back to where they were in April of 2012. Financial reports show overall housing values continue to increase due to a lack of available homes for sale. Some suggest banks are working a supply and demand angle by holding back foreclosure inventory to increase home values. It appears to be working. At first glance, this seems like a good strategy for the banks if it doesn't back fire when they start releasing inventory again.

Current Mortgage Rates

We can help you with a new purchase or refinance your existing loan with these great rates!

One Month Rate Chart

Term | Rate | Orig Fee | Disc Fee | APR

30-Yr Fixed | 3.375% | 0.000% | 0.000% | 3.443%

20-Yr Fixed | 3.250% | 0.450% | 0.000% | 3.420%

15-Yr Fixed | 2.625% | 0.125% | 0.000% | 2.760%

10-Yr Fixed | 2.500% | 0.625% | 0.000% | 2.801%

5/1 ARM | 2.125% | 0.875% | 0.000% | 2.251%

30-Yr Jumbo| 3.875% | 0.500% | 0.000% | 3.953%

5/1 ARM | 2.500% | 0.134% | 0.000% | 2.548%

Jumbo

*Posted rates and APR's are based on primary residence, Purchase or Rate and Term Refinance loan amount of $165K, 80% LTV, mid credit score of 740 or higher, full income and asset verification. Rates and origination fees as of 02/01/2013 at 11:30 AM and are subject to market fluctuations. Jumbo rates are based on the above qualifications with an LTV of 75% and a loan amount of 418K. We offer better rates for lower LTV's on Jumbo loans. Jumbo's available up to 80% LTV

Featured Product of the Month

HARP 2.0 Refinance Up To 150% Loan-To-Value:

We can refinance your existing mortgage over 80% LTV up to 150% upside-down with no private mortgage insurance if you are HARP 2.0 eligible and meet guideline requirements. Rates are similar to the standard conventional rates avove. To find out more about HARP 2.0, click on the HARP FAQ's link under HARP Quick Links above and to the left.

What's Moving The Market

Jan to Feb Rate Chart

US interest rates are better this morning on the Jan payrolls being less than estimates at 157K against forecasts of about 185K and the increases in the unemployment rate to 7.9% against estimates of 7.8%. Prior to 8:30 the 10 yr note yield was at 2.04%. Stocks are rallying because there were upward revisions to Nov and Dec job gains. The bond market has found good support at the 2.00% level; although the level has been breached a couple of times, 2.00% is holding well and supporting better mortgage prices so far. As we have noted, the bond and mortgage markets have been very oversold from a technical perspective, looks like 2.00% will hold and the retracement we have been looking for may be at hand. That said, we don't expect there will be a huge decline in interest rates, the longer bearish outlook should continue.

Article By: Sigma Research and provided by TBWS Rate Alert on 02

HARP 2.0 will end this year. With rates still at all-time lows, now is the best time to check into refinancing if you, your friends or family have not done so already. We will dedicate as much time and help as is needed to each person that inquires about refinancing. All I can ask is that you have them call me and I will take it from there. Honestly, they will appreciate you thinking of them.

Sincerely,

Joseph Adsit
President / Sr Loan Originator

NMLS #216585

1st Rate Mortgage Services LLC

NMLS #771904

770-334-8451

joe@1stRateMtg.com

1st Rate Mortgage is not authorized by, in sponsorship with or otherwise affiliated with the lender for whom this newsletter is addressed and received by.