Archives for October 2015

Mortgage Interest Rate News 10-8-2015

Generally speaking mortgage rates are lower after the worse than expected job report last Friday.   Fixed mortgage rates fell as adjustable mortgage rates virtually stayed the same.  Why did fixed mortgage rates fall?  The expectation for the monthly employment report was for nearly 200k new jobs however the number of jobs created came in at 118k.  Post report bonds rallied and mortgages rates dropped.  It remains to be seen if this is a catalyst for new mortgage lows in 2015 as we’re still in the general range we’ve seen all year.  Lenders continue to be cautious and because of that mortgage rates will only improve from these levels if we significant push down in bond yields.  Investors still think there is a chance the Fed raises rates in 2015 and until we know for sure mortgage lenders will continue to play it safe. 30 year fixed rate mortgages range from mid to high three’s depending on the lenders fee structure while 15 year fixed mortgages range from high two’s to low three’s depending on the lenders fee structure.