Mortgage Rates For June 23, 2017

Mortgage rates for June 23, 2017 are at similar levels seen earlier in the week.  This week has been very light in terms of the number of economic data readings however next week things start to pick up.  The 10y yield is starting off the day at the 2.15% level and the FNM 3.5 coupon is at 103.13 level.  On Monday we have the mortgage interest rateDurable Goods report which analyst are expecting to show a decline. On Tuesday we have the CaseShiller index and the more important Consumer Confidence report which is supposed to show a decline compared to the previous month. Wednesday we have the Pending Home Sales report, Thursday is the Final Q1 GDP report and on Friday we have the Personal Consumption, Core PCE and Chicago PMI.  So what does all that mean?  Just means next week could be a bit more exciting this week.

Are you one of those people wondering why mortgage rates didn’t move significantly higher this week after the Fed raised short term interest rates last week?  The simple answer as to why that didn’t happen is that the Fed does not control mortgage rates, they did not raise “mortgage” rates and the market was fully anticipating the Fed move.  If you are considering a refinance, a purchase or just have some general questions about obtaining a new mortgage please feel free to contact us directly at 1-800-550-5538. We’re a top rated mortgage company with the Better Business Bureau and the Business Consumers Alliance along with industry low mortgage rates.