Mortgage Rates February 22, 2018

Mortgage rates for February 22, 2018 should start the day at elevated levels as the 10y yield pushes towards 2.96%. The 10y yield started the day just above the 2.92% level (late yesterday it was above 2.95%).  Yesterday the Fed released their minutes from the previous meeting and the “tone” of the minuted was a bit more hawkish so that mortgage interest ratepushed yields higher as bonds sold off.  Today we have weekly jobless claims and oil.  There are no major economic reports on Friday.  

Currently we’re seeing 30 year fixed mortgage rates below 4.625%, 20 year fixed mortgage rates below 4.50% and 15 year fixed rates below 4.125%.  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 4.25% on the 30 year fixed rate loan program (conforming, 1 point), 20 year fixed 4.125% (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 2.92% level and the FNMA 30y 3.5  coupon started off the day at the 99-55 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.