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.