Mortgage Rates October 18, 2017

Mortgage rates for October 18, 2017 are set to start off the day slightly worse than yesterday as bond market yields push higher.  Today we have the weekly MBA Purchase Index, the weekly MBA Refinance Index, Housing Starts and Building Permits.  Tomorrow we have the Philly Fed Index along with weekly Jobless claims.  Currently we’re seeing mortgage interest rate30 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 might be slightly higher today).

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, 0.625 of a point) and on the 15 year as low as 3.00% (conforming, 1 point).  The 10y yield started off the day at the 2.33% level and the FNMA 30y 3.5  coupon started off the day at the 102.91 level.  Import Prices and Export Prices both came in higher than anticipated yesterday and that pushed bond yields higher in the morning trading session.  However bonds rallied in the afternoon which pushed yields back down to the 2.29% level.  Mortgage rates remain under pressure as the selling of bonds that started in early September remains in place.

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.