Mortgage Rates January 10, 2018

Mortgage rates for January 10, 2018 are higher than rates seen on Monday as the 10y yield approaches 2.60%.  The 10y yield opened the morning trading session around the 2.58% level and bond investors are looking to see if it can stay below the 2.60% – 2.62% level.  A pop to that or above that level would not be too concerning however if there is mortgage interest ratea significant move above that without a reversal then bond yields could face a significant amount of selling.  Later today we have the weekly MBA Purchase, MBA Refinance, Export Prices, Import Prices, and Oil reports along with 10-year Note auction.  On Thursday we have the Core Producers Price report, weekly Jobless Claims, 30-year bond Auction and on Friday we have Retail Sales, and the Core CPI reports.

Export and import prices came in lower than expected and the MBA Purchase/MBA Refinance reports came in above expectations.  Currently we’re seeing 30 year fixed mortgage rates below 4.125%, 20 year fixed mortgage rates below 4.00% and 15 year fixed rates below 3.625%.  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 3.75% on the 30 year fixed rate loan program (conforming, 1 point), 20 year fixed 3.625% (conforming, 1 point) and on the 15 year as low as 3.125% (conforming, 1.25 points).  As mentioned the 10y yield started off the day at the 2.58% level and the FNMA 30y 3.5  coupon started off the day at the 101.70 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.