Archives for October 2017

Mortgage Rates October 31, 2017

Mortgage rates for October 31, 2017 are set to start off the day at similar levels seen on Monday as the bond market looks for direction after a solid rally on Monday.  The 10y yield opened the morning trading session at the 2.37% level which is below the 2.42% level we discussed last week.  From here what do we need to see to gain more confidence in mortgage interest ratethis recent rally? A solid break below the 2.35%/2.34% level would add confidence to the current views investors have with respect to the bond market.  Last this week the market is no expecting the President to announce his Fed Chairmen nomination and we have the all important employment numbers (which include wages).  

This morning we had Employment Costs, Employment Wages and Employment Benefits and all three came in higher than the previous month.  We also had the Chicago PMI and Consumer Confidence and these readings also came in higher.  So it’s a good sign for bonds when we have multiple reports coming in higher than expected.  Keep an eye on the Mueller investigation; if that continues to get worse for the President bond yields may fall further as the market will start to believe tax reform will fail.

Currently we’re seeing 30 year fixed mortgage rates remain below 4.00%, 15 year fixed rates below 3.25% and 7/1 ARM rates below 3.375% (conforming, zero points) to start the day (the cost to obtain these mortgage rates will be slightly better today as the bond market reverse course from it’s recent uptrend).  Until we start to see bonds stabilize from the selling that started in early September lenders are going to be hesitant to pass along improvements….2 or 3 days of positive trends is not enough; we’ll need to see a week or two of steady improvements in bonds for lenders to feel more at ease about the market.

Mortgage rates for some “A” level borrowers (high credit score, low loan to home value ratio, low debt to income ratio and no cash out) are as low as 3.625% on the 30 year fixed rate loan program (conforming, 1 point) and on the 15 year as low as 3.00% (conforming, 1 point).  As mentioned the 10y yield started off the day at the 2.37% level and the FNMA 30y 3.5  coupon started off the day at the 102.83 level.  

Call us today for a no cost – no obligation quote at 1-800-550-5538.  We offer industry low mortgage rates and have a top rating with the Better Business Bureau and the Business Consumers Alliance.  

Mortgage Rates October 27, 2017

Mortgage rates for October 27, 2017 are set to start off the day better than Thursday after an early morning rally in the bond market.  The 10y yield opened the morning trading session at the 2.46% level and quickly moved down to the 2.42% level as rumors swirled that President Trump favors Powell over Taylor as Fed Chairman. Ideally we’d like to see 10y yield move below 2.42% before the weekend before we can gain confidence in the current rally.  This morning we mortgage interest ratealso had the Catalonia independence vote (non-event for the bond market) and the advance GDP reading (GDP came in higher than expected when compared to the most recent revisions however inline with pre-hurricane estimates).

Currently we’re seeing 30 year fixed mortgage rates remain below 4.00%, 15 year fixed rates below 3.25% and 7/1 ARM rates below 3.375% (conforming, zero points) to start the day (the cost to obtain these mortgage rates will be slightly better today as the bond market reverse course from it’s recent uptrend).

Mortgage rates for some “A” level borrowers (high credit score, low loan to home value ratio, low debt to income ratio and no cash out) are as low as 3.625% on the 30 year fixed rate loan program (conforming, 1 point) and on the 15 year as low as 3.00% (conforming, 1 point).  The 10y yield started off the day at the 2.42% level and the FNMA 30y 3.5  coupon started off the day at the 102.45 level.

Call us today for a no cost – no obligation quote at 1-800-550-5538.  We offer industry low mortgage rates and have a top rating with the Better Business Bureau and the Business Consumers Alliance.  Have a great weekend!

Mortgage Rates October 26, 2017

Mortgage rates for October 26, 2017 are set to start off the day at similar levels seen Wednesday afternoon as the 10y yield moves back below 2.45% in early trading.  There was a steep selloff in bonds Wednesday morning however it somewhat recovered by afternoon trading.  This morning we we have jobless claims, pending home sales and the 7y auction later this afternoon.  Also this morning was the ECB announcement which had little affect on the market mortgage interest rate(which good news).  Many traders were concerned that there would be a surprise from the ECB today and it was one of many factors as to why yields were pushing higher.  Tomorrow we have the advance Q3 GDP report.

Currently we’re seeing 30 year fixed mortgage rates remain below 4.00%, 15 year fixed rates below 3.25% and 7/1 ARM rates below 3.375% (conforming, zero points) to start the day (the cost to obtain these mortgage rates will be higher today).  

Mortgage rates for some “A” level borrowers (high credit score, low loan to home value ratio, low debt to income ratio and no cash out) are as low as 3.625% on the 30 year fixed rate loan program (conforming, 1 point) and on the 15 year as low as 3.00% (conforming, 1 point).  The 10y yield started off the day at the 2.42% level and the FNMA 30y 3.5  coupon started off the day at the 102.45 level.

Call us today for a no cost – no obligation quote at 1-800-550-5538.  We offer industry low mortgage rates and have a top rating with the Better Business Bureau and the Business Consumers Alliance.

ECB Updates From Reuters:

RTRS – ECB KEEPS BENCHMARK REFINANCING RATE UNCHANGED AT 0.00 PCT (REUTERS POLL 0.00 PCT)

RTRS – ECB SAYS FROM JANUARY 2018 THE NET ASSET PURCHASES ARE INTENDED TO CONTINUE AT A MONTHLY PACE OF 30 BILLION UNTIL THE END OF SEPTEMBER 2018, OR BEYOND, IF NECESSARY

RTRS – ECB SAYS THE GOVERNING COUNCIL CONTINUES TO EXPECT THE KEY ECB INTEREST RATES TO REMAIN AT THEIR PRESENT LEVELS FOR AN EXTENDED PERIOD OF TIME, AND WELL PAST THE HORIZON OF THE NET ASSET PURCHASES

RTRS – ECB SAYS THE EUROSYSTEM WILL REINVEST THE PRINCIPAL PAYMENTS FROM MATURING SECURITIES PURCHASED UNDER THE APP FOR AN EXTENDED PERIOD OF TIME AFTER THE END OF ITS NET ASSET PURCHASES, AND IN ANY CASE FOR AS LONG AS NECESSARY

Mortgage Rates October 25, 2017

Mortgage rates for October 25, 2017 are set to start off the day higher/at worse levels than yesterday as the 10y yield moves above 2.45% in early trading.  This morning we had the Durable Goods, MBA Purchase, MBA Refinance and New Home Sales numbers.  The market continues to move higher in anticipation of the ECB meeting later this week mortgage interest rateand next week is the employment numbers which come out on  November 3rd.  The bond market clearly remains in “sell” mode; and the movement from the low 2.00% level to 2.45% has been quick.  As the selling increases that may signal a top in yields as a wave of sellers rush for the exit doors….however that wave can easily last longer than anticipated so we’ll have to wait and see what happens after the ECB meeting and possibly the employment numbers next week. 

Currently we’re seeing 30 year fixed mortgage rates remain below 4.00%, 15 year fixed rates below 3.25% and 7/1 ARM rates below 3.375% (conforming, zero points) to start the day (the cost to obtain these mortgage rates will be higher today).  If the 10y yield moves much higher the above rates may move up 0.125%

Mortgage rates for some “A” level borrowers (high credit score, low loan to home value ratio, low debt to income ratio and no cash out) are as low as 3.625% on the 30 year fixed rate loan program (conforming, 1 point) and on the 15 year as low as 3.00% (conforming, 1 point).  The 10y yield started off the day at the 2.45% level and the FNMA 30y 3.5  coupon started off the day at the 102.25 level.

Call us today for a no cost – no obligation quote at 1-800-550-5538.  We offer industry low mortgage rates and have a top rating with the Better Business Bureau and the Business Consumers Alliance.

Mortgage Rates October 24, 2017

Mortgage rates for October 24, 2017 are set to start off the day higher/at worse levels than yesterday as the 10y yield moves above 2.40% in early trading.  There are no major economic numbers coming out today and but tomorrow we mortgage interest ratehave Durable Goods, MBA Purchase, MBA Refinance and New Home Sales numbers.  The market is moving higher in anticipation of the ECB meeting later this week and solid earnings from CAT prior to the market open.

Currently we’re seeing 30 year fixed mortgage rates remain below 4.00%, 15 year fixed rates below 3.25% and 7/1 ARM rates below 3.375% (conforming, zero points) to start the day (the cost to obtain these mortgage rates will be higher today).  If the 10y yield moves much higher the above rates may move up 0.125%

Mortgage rates for some “A” level borrowers (high credit score, low loan to home value ratio, low debt to income ratio and no cash out) are as low as 3.625% on the 30 year fixed rate loan program (conforming, 1 point) and on the 15 year as low as 3.00% (conforming, 1 point).  The 10y yield started off the day at the 2.41% level and the FNMA 30y 3.5  coupon started off the day at the 102.66level.

Call us today for a no cost – no obligation quote at 1-800-550-5538.  We offer industry low mortgage rates and have a top rating with the Better Business Bureau and the Business Consumers Alliance.