Mortgage Rates September 19, 2017

Mortgage rates for September 19, 2017 will start off the day at similar levels as seen on Monday.  The pressure to push the 10y yield higher seems to be easing this morning however that may be temporary.  As of this morning we’re seeing 30 year fixed mortgage rates below 3.875%, 15 year fixed rates below 3.125% and 7/1 ARM rates below 3.375% mortgage interest rate(conforming, zero points) – the cost to obtain these mortgage rates should be similar to yesterday. Yesterday we had the NAHB Housing Market Index and today we had Building Permits, Housing Prices, Import Prices and Export Prices.

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 refinance rates are slightly worse to start he week but overall still at great levels for 2017.

Like yesterday the 10y yield started off the day at the 2.21% level, however unlike yesterday there was no sudden move above 2.23%.  FNMA 30y 3.5 started off the day at the 103.25 level and currently sitting at the 103.22 level.  Today we  had the Building Permits, Housing Prices, Import Prices and Export Prices.  These reports came in higher than expectations however market reaction has been muted.

As previously mentioned yesterday; Wednesday is the FOMC meeting and while no one is expecting them to raise rates many investors are focused on what they have to say about inflation and their economic outlook over the next 6-24 months.

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