Mortgage Rates April 16, 2018

Mortgage rates for April 16, 2018 are starting off the week as bond yields move higher. The 10y yield opened the day at the 2.86% level (almost a 4 week high) as fears of an escalation of tensions in Syria fade as do the possibility of an all out trade ware with China. This week we have NY Fed Manufacturing Index for April and Retail mortgage interest rateSales on Monday. On Tuesday we have Building Permits and Housing starts. On Wednesday we have the Mortgage Refinance Index, Mortgage Purchase Index and Oil. Thursday is the Philly Fed Index and on Friday there are no major economic reports.

Currently we’re seeing 30 year fixed mortgage rates below 4.50%, 20 year fixed mortgage rates below 4.375% 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 4.00% on the 30 year fixed rate loan program (conforming, 1.25 points), 20 year fixed 3.875% (conforming, 1 point) and on the 15 year as low as 3.50% (conforming, 1.25 points).  As mentioned the 10y yield started off the day around the 2.86% level and the FNMA 30y 3.5  coupon started off the day around the 99.66 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.