Mortgage Rates September 29, 2017

Mortgage rates for September 29, 2017 are similar to mortgage rates seen on Thursday as we head into the weekend.  As of this morning there is limited selling in the bond market and we should see 30 year fixed mortgage rates 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 mortgage interest rate(the cost to obtain these mortgage rates should be similar to Thursday).  Yesterday we had the GDP report and weekly jobless claims (both came in higher than expected) along with a 7 year auction.  Today we had PCE, Core PCE, Chicago PMI and the University of Michigan Inflation reading.  Next week we have ISM Manufacturing, ADP Employment and the BLS Employment report (among others).

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 3.75% on the 30 year fixed rate loan program (conforming, zero points) and on the 15 year as low as 3.00% (conforming, zero points).  The 10y yield started off the day at the 2.31% level and the FNMA 30y 3.5  coupon started off the day at the 103.20 level.

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