Mortgage Rates January 12, 2018

Mortgage rates for January 12, 2018 will start the day a bit worse after a strong CPI report that pushed the 10y yield back up towards the 2.60% level. As mentioned the other day “A pop to that (2.60%) or above that level would not be too concerning however if there is a significant move above that without a reversal then bond yields could face a mortgage interest ratesignificant amount of selling.”

This morning we had  Retail Sales, and the Core CPI reports.  The Retail sales report came in as expected however he CPI reports came in stronger than expected.  For the markets one of the most important economic reports is the CPI.  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 2.57% level and the FNMA 30y 3.5  coupon started off the day at the 101.80 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.