Mortgage Rates October 26, 2017

Mortgage rates for October 26, 2017 are set to start off the day at similar levels seen Wednesday afternoon as the 10y yield moves back below 2.45% in early trading.  There was a steep selloff in bonds Wednesday morning however it somewhat recovered by afternoon trading.  This morning we we have jobless claims, pending home sales and the 7y auction later this afternoon.  Also this morning was the ECB announcement which had little affect on the market mortgage interest rate(which good news).  Many traders were concerned that there would be a surprise from the ECB today and it was one of many factors as to why yields were pushing higher.  Tomorrow we have the advance Q3 GDP report.

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).  

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 2.42% level and the FNMA 30y 3.5  coupon started off the day at the 102.45 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.

ECB Updates From Reuters:

RTRS – ECB KEEPS BENCHMARK REFINANCING RATE UNCHANGED AT 0.00 PCT (REUTERS POLL 0.00 PCT)

RTRS – ECB SAYS FROM JANUARY 2018 THE NET ASSET PURCHASES ARE INTENDED TO CONTINUE AT A MONTHLY PACE OF 30 BILLION UNTIL THE END OF SEPTEMBER 2018, OR BEYOND, IF NECESSARY

RTRS – ECB SAYS THE GOVERNING COUNCIL CONTINUES TO EXPECT THE KEY ECB INTEREST RATES TO REMAIN AT THEIR PRESENT LEVELS FOR AN EXTENDED PERIOD OF TIME, AND WELL PAST THE HORIZON OF THE NET ASSET PURCHASES

RTRS – ECB SAYS THE EUROSYSTEM WILL REINVEST THE PRINCIPAL PAYMENTS FROM MATURING SECURITIES PURCHASED UNDER THE APP FOR AN EXTENDED PERIOD OF TIME AFTER THE END OF ITS NET ASSET PURCHASES, AND IN ANY CASE FOR AS LONG AS NECESSARY