Mortgage Rates June 19, 2017

Mortgage rates for June 19, 2017 are starting off the day flat; similar to rates from Friday although the bond market is under a bit of pressure this morning from comments made by Fed president William Dudley.  At the end of the post are the comments from Reuters.  He essentially is saying that the recent softening of inflation data and mortgage interest ratewages will pick up; he expects to see 3% wage growth and says that if the Fed stops raising interest rates now that will negatively affect the economy (all statements not good for bonds/mortgage rates).  However the bond market is taking it in stride as the 10y yield is starting off the day just below the 2.17% level (around the same level Friday morning however higher than the 2.15% level it finished off the day at on Friday).

Today there are no major economic data reports and actually the rest of the week is fairly light.  Tuesday is another day absent of a significant economic data report however on Wednesday we have existing home sales, Thursday we have weekly jobless claims and monthly home prices and to finish the week off on Friday we have New Home Sales.  As always if there are any significant movements in the market today will update the post with that information.  Overall though mortgage rates for 2017 are still good; especially compared to the last 4-5 months.

If you are considering a refinance or looking to buy a new home please contact us directly for a no cost – no obligation quote.  We offer industry low fixed rate and adjustable rate mortgages along with a top notch customer service.  Our direct number is 1-800-550-5538.

William Dudley comments from Reuters:

RTRS – FED’S DUDLEY: WAGES, INFLATION SHOULD PICK

RTRS – FED’S DUDLEY: EXPECTS TO GET 3 PCT WAGE GROWTH OVER NEXT YEAR OR TWO

RTRS – FED’S DUDLEY: HALTING TIGHTENING CYCLE NOW WOULD IMPERIL ECONOMY