Mortgage Rates May 25 2017

Mortgage Rates For May 25, 2017

If I could pick one word to describer mortgage rates this week it would be “stable” and if I could describe the bond market action I would use “boring”. Not much has happened and not much has changed the first 4 days of the week but that could change before we get to the long three day weekend.  Stable and boring are good for mortgage rates and the bond market because lenders are more likely to pass along aggressive rates when things are calm.  And one mortgage interest ratething everyone wants to see is low California mortgage rates!  So let the “stable” continue, let the “boring” action in the bond market continue and there’s a chance we may see more aggressive mortgage rates and terms to start off the month of June.

This morning we received the weekly jobless claims and continued jobless claims reading.  No surprises as both numbers came in near expectations and the 10y yield started the day at the 2.25% level. An interesting fact about the continued claims; they are at a 44 year low.  Bonds markets close early tomorrow for the holiday weekend however we do have some important economic data readings coming out that may affect mortgage rates.  Durable Good and GDP are the two main data points for the day so we’ll keep an eye on that.  Also news out of Washington DC, more specifically news about the current Administration may push mortgage rates so that is also something to keep an eye on before the weekend.

If you are considering a refinance of your current mortgage or you’re looking to purchase a new home; please contact us directly for a no cost – no obligation quote.  We offer both fixed rate mortgages and adjustable rate mortgages and for qualified borrower’s we also offer a true zero cost loan (no points, no costs – all lender and 3rd party fees covered).  Our direct number is 1-800-550-5538.