Mortgage Rates February 14, 2018

Mortgage rates for February 14, 2018 are waiting on this morning CPI data which may determine the direction of mortgage rates for the coming days and possibly weeks. As of this morning the 10y yield as at the 2.82% level and stocks are set to start the day with a positive gain. Today we have the MBA Refinance, MBA Purchase, Retail Sales, mortgage interest rateBusiness Inventories and perhaps the most important report – the Core CPI Monthly and Core CPI year/year reports. Thursday we have Core Producer Prices report (another very important reading for the bond market), Philly Fed and a 30y bond auction.  On Friday we Housing permits, Building permits and the 1yr and 5yr inflation outlook. 

Good new for bond markets is that oil continues to trade below $60 a barrel despite stocks rebounding from their previous selloff.  Also Bloomberg’s commodity index continues to trade at weaker levels which could help put a lid on short term inflation in the coming weeks/months (provided they stay at lower levels).

UPDATE ON CPI REPORT – CPI, both yearly and monthly, came in stronger than expected and bonds are selling off.  Currently the 10y yields is above 2.86%.

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 4.125% 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 3.50% (conforming, 1 point).  As mentioned the 10y yield started off the day at the 2.82% level and the FNMA 30y 3.5  coupon started off the day at the 99-97 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.