Mortgage Rates September 8, 2017

Mortgage rates for September 8, 2017 are heading into the weekend near their best levels of 2017.  Yesterday we had Productivity, Labor Costs, Weekly Unemployment, Oil and a Draghi press conference and today we had Wholesale Inventories and Consumer Credit.  This morning the bond market started slightly worse when compared to mortgage interest rateyesterday’s levels.

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% (conforming, zero points) – the cost to obtain these mortgage rates has been steady all week.  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 mortgage rates and purchase mortgage rates remain near the best levels of 2017.

The 10y yield opened the day at the 2.03% level and then moved up to the 2.06% level. The 30y FNMA 3.5 coupon opened the day at the 103.91 level and then moved down to the 103.80 level. As mentioned we had the Wholesale Inventories and Consumer Credit – no major surprises with either report.

Have a great weekend!