Mortgage Rates October 12, 2017

Mortgage rates for October 12, 2017 are set to start off the day similar to yesterday.  Today we have the Core PPI, weekly jobless claims and later in the day a 30 year bond auction.  Tomorrow we have the all important CPI reading and retail sales.  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 mortgage interest ratepoints) to start the day (the cost to obtain these mortgage rates should be similar to Wednesday).  Yesterday’s 10 year auction helped keep a lid on bond yields and the FOMC minutes was a non-event.

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, zero points) and on the 15 year as low as 3.00% (conforming, zero points).  The 10y yield started off the day at the 2.35% level but has since moved back down to the 2.33% level.  The FNMA 30y 3.5  coupon started off the day at the 102.90 level.  California refinance and purchase loan volume remains below levels seen in previous years.  PPI came in stronger than expected and many investors and analyst are concerned that the CPI number, which is more important to bonds than the PPI number, will be much stronger than anticipated.  

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.