Mortgage Rates October 25, 2017

Mortgage rates for October 25, 2017 are set to start off the day higher/at worse levels than yesterday as the 10y yield moves above 2.45% in early trading.  This morning we had the Durable Goods, MBA Purchase, MBA Refinance and New Home Sales numbers.  The market continues to move higher in anticipation of the ECB meeting later this week mortgage interest rateand next week is the employment numbers which come out on  November 3rd.  The bond market clearly remains in “sell” mode; and the movement from the low 2.00% level to 2.45% has been quick.  As the selling increases that may signal a top in yields as a wave of sellers rush for the exit doors….however that wave can easily last longer than anticipated so we’ll have to wait and see what happens after the ECB meeting and possibly the employment numbers next week. 

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 higher today).  If the 10y yield moves much higher the above rates may move up 0.125%

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 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).  The 10y yield started off the day at the 2.45% level and the FNMA 30y 3.5  coupon started off the day at the 102.25 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.