Mortgage Rates August 21, 2017

Mortgage rates for August 21, 2017 are set to start the day at similar levels seen on Friday.  There are no major economic reports scheduled for today and the week in general is fairly light on economic reports.  30 year fixed mortgage rates should start the day below 3.875%, 15 year fixed rates below 3.25% and 7/1 ARM rates below 3.375% (conforming, zero points)-the cost to obtain these rates will be similar to terms seen on Friday.

mortgage interest rateMortgage rates for some “A” level borrowers (high credit scores, 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 loan program (conforming, zero points) and on the 15 year as low as 3.00% (conforming, zero points).

The 10y yield opened the day at the 2.18% level and the 30y FNMA 3.5 coupon opened the day at the 103.30 level.  Later in the week we have MBA Purchase index, MBA Refinance Index, New Home Sales, Oil, Existing Home Sales, Weekly Unemployment, and Durable Goods.

If you are looking to refinance your current mortgage or purchase a new home please be sure to give us a call at 1-800-550-5538 for a no cost – no obligation quote.  We offer industry low mortgage rates and have a top rating with the Better Business Bureau and the Business Consumers Alliance.