Mortgage Rates March 7, 2018

Mortgage rates for March 7, 2018 should start off the day slightly better after the announcement that Gary Cohn, President Trump’s top economic adviser, would resign.  The 10y yield started the day at the 2.84% level.  Today we the MBA Purchase and MBA Refinance Index, ADP Employment report Oil and Consumer credit.  ADP employment mortgage interest ratecame in stronger than expected and that pushed the 10y yield to 2.86%.  The MBA Purchase index was slightly weaker and the Refinance Index was slightly stronger than expected. On Thursday we have Challenger Layoff report for February and weekly Jobless claims.  On Friday we have the BLS jobs report and Wholesale Inventories.

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 just above the 2.84% level and the FNMA 30y 3.5  coupon started off the day at the 99.67 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.