Mortgage Rates June 4, 2018

Mortgage rates for June 4, 2018 are starting off the week at similar levels seen last week when bonds moved to their best levels in months. The 10y yield opened the day at the 2.91% level as we see a continued sell off from the May 29th low hit last week. This morning we had the ISM-New York report which came in stronger than mortgage interest rateexpected. Later in the day we have a Durable Goods report and a Factory Orders report as well. Tomorrow we have the ISM Non-Manufacturing PMI report, Wednesday we have Mortgage Market, Refinance and Purchase reports along with Productivity, Labor Costs and Oil. On Thursday we have weekly Jobless Claims and Consumer Credit. To end the week on Friday we have Wholesale Sales and Inventories.

Currently we’re seeing 30 year fixed mortgage rates BELOW 4.50%, 20 year fixed mortgage rates BELOW 4.25% and 15 year fixed rates BELOW 3.875%.  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 4.125% on the 30 year fixed rate loan program (conforming, 1 point), 20 year fixed 3.875% (conforming, 1 point) and on the 15 year as low as 3.50% (conforming, 1 point).  As mentioned the 10y yield started off the day around the 2.91% level and the FNMA 30y 3.5  coupon started off the day around the 99.11 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 May 7, 2018

Mortgage rates for May 7, 2018 are starting off the week at similar levels seen last week. The 10y yield opened the day at the 2.94% level after last week’s FOMC decision not to raise interest rates (investors still think they will raise rates 2-3 times this year). This morning we had the Employment trends report which was slightly stronger than mortgage interest rateexpectations. Tuesday there is a 3 year Note auction. On Wednesday we have MBA Purchase and MBA Refinance data along with Core Producer Prices data. Later in the day there is an important 10 year Note auction as well. On Thursday we have the all important Core CPI reading, a 30 year bond auction and the finish the week on Friday we have Import and Export prices along with Inflation Expectations.

Currently we’re seeing 30 year fixed mortgage rates BELOW 4.50%, 20 year fixed mortgage rates BELOW 4.25% and 15 year fixed rates BELOW 4.00%.  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 4.25% on the 30 year fixed rate loan program (conforming, 1 point), 20 year fixed 4.00% (conforming, 1 point) and on the 15 year as low as 3.625% (conforming, 1 point).  As mentioned the 10y yield started off the day around the 2.94% level and the FNMA 30y 3.5  coupon started off the day around the 99.11 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 January 19, 2018

Mortgage rates for January 19, 2018 should start off the day higher as the 10y yield trades above the 2.60% level.  At the open the 10y yield was at the 2.62% level and pushed higher after today’s economic data came out. This morning we had Consumer Sentiment, which came in lower than expected, the 1 year and 5 year inflation outlook which came mortgage interest ratein higher than expected.  Bonds appear to be trading as if the only direction for bond yields to go is up. While not panic selling like we’ve seen in the past which is good news, one does have to ask why the continued move up in yield? 

Currently we’re seeing 30 year fixed mortgage rates below 4.25%, 20 year fixed mortgage rates below 4.125% and 15 year fixed rates below 3.75%.  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 3.875% on the 30 year fixed rate loan program (conforming, 1 point), 20 year fixed 3.75% (conforming, 1 point) and on the 15 year as low as 3.25% (conforming, 1.25 points).  As mentioned the 10y yield started off the day at the 2.62% level and the FNMA 30y 3.5  coupon started off the day at the 101.45 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.

Mortgage Rates December 18, 2017

Mortgage rates for December 18, 2017 are starting the week at similar levels seen on Friday. The 10y yield opened the morning trading session at the 2.38% level and has since moved back down to the 2.36% level.  As mentioned last week, “Going back to mid-October we’ve seen a range in the 10y yield of 2.31% on the low side to 2.45% on the high mortgage interest rateside” and this most likely will continue until the tax bill is approved or defeated in the Senate.  Furthermore “The longer this goes on the stronger the ceiling or base will be for a longer term move in the 10y yield.”  Today we have the NAHB housing index, Tuesday we have Building Permits and Housing Starts, Wednesday we have MBA purchase, MBA Refinance and Existing Home sales, Thursday we have GDP along with the Philly Fed Index and on Friday we have Core PCE, Durable Goods, New Home Sales, Consumer Spending and Personal Income.  The bond market is closed Friday and most lenders are at a half day due to the Christmas holiday. 

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 similar to last week).  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 2.38% level and the FNMA 30y 3.5  coupon started off the day at the 102.73 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 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.