Mortgage Rates November 2, 2017

Mortgage rates for November 2, 2017 are set to start the day at slightly better levels than yesterday morning.  The 10y yield opened the morning trading session at the 2.39% level however it has since move down to the 2.37% level in early morning trading and have since moved lower.  Yesterday we had the ADP employment report which came in at 235k mortgage interest ratejobs creates; 35k more than expected however last months report was lowered from 135k to 110k (which is good news for bonds) along with the FOMC announcement.  Today we Productivity (higher than expected), Labor Costs (inline with expectations), Jobless Claims (lower than expectations) and the ISM-New York reading which was slightly higher than last month.

Currently we’re seeing 30 year fixed mortgage rates remain below 4.00%, 15 year fixed rates below 3.25% and 7/1 ARM rates below 3.375% (conforming, zero points) to start the day (the cost to obtain these mortgage rates will be similar to yesterday).  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 3.625% on the 30 year fixed rate loan program (conforming, 1 point) and on the 15 year as low as 3.00% (conforming, 1 point).  As mentioned the 10y yield started off the day at the 2.37% level and the FNMA 30y 3.5  coupon started off the day at the 102.80level.

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.