Mortgage interest rates March 2017

Mortgage interest rates here at the end of March 2017 remain below the highs seen earlier this year.  The 10 year yield is moving up today; but still below 2.42 (a key level for the 10 year bond).  Generally speaking mortgage interest rates have worsened a bit; but overall still better than 7-10 days ago and the downward trend remains in best California mortgage ratetact.  Refinance application remain soft at best as the market is well below normal and lenders are having to make adjustments in staff due to the low volume of refinance and purchase loans.  Fixed rate mortgages and adjustable rate mortgages have both seen a slight move up today.

There were a few comments from Fed officials today; it appears the Fed is ready to raise rates two more times in 2017.  However just because the Fed raises rates; does not mean that mortgage rates will follow.  California mortgage rates are separate from the rate the Fed moves up (or down).

RTRS – U.S. FEDERAL RESERVE VICE CHAIR STANLEY FISCHER ON CNBC – TWO MORE RATE HIKES THIS YEAR SEEMS ABOUT RIGHT

RTRS – FED’S GEORGE SAYS DOESN’T WANT FED TO RAISE RATES QUICKLY AND SHOCK THE ECONOMY

RTRS – FED’S GEORGE SAYS WILL BE IMPORTANT TO CONTINUE GRADUALLY RAISING RATES