Mortgage Rates September 15, 2017

Mortgage rates for September 15, 2017  should start off the day at similar levels seen yesterday as Retail Sales came in weaker than expected yesterday’s missile launch by North Korea.  On Thursday there was the Core CPI and weekly unemployment and today we had the Retail Sales report.  As of this morning we’re seeing 30 year fixed mortgage interest ratemortgage rates below 3.875%, 15 year fixed rates below 3.125% and 7/1 ARM rates below 3.375% (conforming, zero points) – the cost to obtain these mortgage rates should 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, zero points) and on the 15 year as low as 2.875% (conforming, zero points).  California mortgage rates are slightly higher heading into the weekend when compared to last week but overall still at great levels for 2017.

The 10y yield started off the day at the 2.20% level, moved to the 2.19% level after the Retail Sales report which came in weaker than expected.  FNMA 30y 3.5 started off the day at the 103.30 level.  Next week we the NAHB Housing Market Index, Building Permits, Housing Starts, Existing Homes Sales, FOMC rate decision, Weekly Unemployment and the Philly Fed report.

If you are interested in refinancing your current mortgage or looking to purchase a new home please be sure to give us a call at 1-800-550-5538 for a no cost – no obligation quote.

Have a great weekend!