September 2022 mortgage rates are poised to move higher as the bond market has shifted since mid-summer. A major factor impacting the US bond market and September 2022 mortgage rates is the energy crisis in Europe which is making European inflation much worse. It’s something to keep an eye on as we move into Autumn.

Opportunities And Risks For September 2022

September 2022 mortgage rates are under pressure to move higher. This pressure might remain for the entire month or we may start to see things ease…really difficult to say. As mentioned, the energy crisis in Europe has been a big problem for US bond markets (and will continue to be).

On the positive side, oil continue’s decline along with other commodities, and this should help push inflation down – which is a big positive for mortgage rates. When it comes to locking in a rate, if it makes sense and the numbers work for you, then strongly consider locking. However, if September 2022 mortgage rates return to the previous highs (seen in May/June), then you might consider taking a cautious approach to locking (if you can be patient).

September 2022 Mortgage Rate Forecast For California

Here are our latest September 2022 mortgage rate forecasts for California:

30-year fixed rates below 5.50%
20-year fixed rates below 5.375%
15-year fixed rates below 5.00%

Our September 2022 mortgage rate forecast is based on properties in California, a loan amount of $350,000, a primary home, excellent credit (740 or higher credit score), and a Loan-To-Value ratio below 60% (purchase transactions).

We may see days in which mortgage rates spike higher however, overall, we believe there will be opportunities to lock a mortgage rate at or below these levels throughout the month of September.

Mortgage Rate And Payment Chart

Here is a quick reference guide to September 2022 mortgage rate possibilities in California (these are not quotes; just examples) and the payments associated with each level based on various conforming loan amounts. See our important disclosure below.

30-Year Fixed-Rate Mortgage:

Term	Loan Amount	Mortgage Rate	Payment
30-year fixed	$242,000	4.625%	$1,244.22
30-year fixed	$342,000	4.625%	$1,758.36
30-year fixed	$442,000	4.625%	$2,272.50
30-year fixed	$542,000	4.625%	$2,786.64

20-Year Fixed-Rate Mortgage:

Term	Loan Amount	Mortgage Rate	Payment
20-year fixed	$242,000	4.50%	$1,531.01
20-year fixed	$342,000	4.50%	$2,63.66
20-year fixed	$442,000	4.50%	$2,796.31
20-year fixed	$542,000	4.50%	$3,428.96

15-Year Fixed-Rate Mortgage:

Term	Loan Amount	Mortgage Rate	Payment
15-year fixed	$242,000	4.25%	$1,820.51
15-year fixed	$342,000	4.25%	$2,572.79
15-year fixed	$442,000	4.25%	$3,325.07
15-year fixed	$542,000	4.25%	$3,325.07

Important Disclosure For September 2022 mortgage rates: The above is not a mortgage rate quote; nor is it an offer to lend. It’s only a generic example of various mortgage rates, loan amounts, and payments. Our mortgage rate chart is meant to educate and inform our readers. The current September 2022 mortgage rate market may be higher or lower than the examples listed in these mortgage rate charts. Also; mortgage rates can and often do adjust multiple times a day.

California Mortgage Calculator

Using a mortgage calculator to figure out your monthly payment is an essential part of buying a home in California or refinancing a current mortgage. Use our free mortgage calculator to help you determine what you can afford.

With our online mortgage calculator, you can also factor in your property tax amount along with your annual homeowner’s insurance amount with your monthly mortgage payment.

Our California mortgage calculator is free and easy to use.

And our mortgage calculator is especially helpful for those who want to impound their property taxes and property insurance into their monthly mortgage payment. If you have any questions about or California mortgage calculator please don’t hesitate to ask.

Update Mortgage Guidelines September 2022

There are no significant changes to guidelines this month.

Economic Calendar For September 2022

Here we cover the daily economic events that might impact September 2022 mortgage rates. After the report comes out we’ll update the post with that information and comment on if there is a potential impact on the Mortgage-Backed Securities market and consumer mortgage rates.

To start things off we have:

ISM Manufacturing report
ADP Employment
ISM Non-Manufacturing PMI
BLS Employment report

Friday – September 30th:

Core PCE Inflation: Last month the CORE PCE Inflation report came in at 4.6% and this month the report came in at 4.9%. The higher than anticipated reading had little impact on September 2022 mortgage rates.

Thursday – September 29th:

Unemployment Claims: Weekly unemployment claims came in at 193,000 and continued claims came in at 1,347,000.

Wednesday – September 28th:

MBA Purchase Index: The MBA Purchase Index came in at 199.3.
MBA Refinance Index: The MBA Refinance Index came in at 524.1.

Tuesday – September 27th

Durable Goods Report: The market was anticipating the Durable Goods report to come in at -0.4% and the report came in at -0.2%. September 2022 mortgage rates were stable post-report.
Consumer Confidence: This report was a bit of a surprise to the upside as the market was anticipating a level 104.5 and the report came in at 108.0.

Thursday – September 22nd:

Unemployment Claims: Weekly unemployment claims came in at 213,000 and continued claims came in at 1,379,000.

Wednesday – September 21st:

MBA Purchase Index: The MBA Purchase Index came in at 200.1.
MBA Refinance Index: The MBA Refinance Index came in at 588.1.

Thursday – September 15th:

Unemployment Claims: Weekly unemployment claims came in at 213,000 and continued claims came in at 1,403,000.
Philly Fed Index: The Philly Fed Index came in at -9.9% and the market was expecting +2.8%.
Retail Sales: Last month Retail Sales declined -0.4% and this month the report showed a small game of 0.3%.

Wednesday – September 14th:

MBA Purchase Index: The MBA Purchase Index came in at 198.1.
MBA Refinance Index: The MBA Refinance Index came in at 532.9.

Tuesday – September 13th

Core CPI: The market was expecting Core CPI to come in at 6.1% and it came in at 6.3%. The bond market did not like this and September 2022 mortgage rates pushed higher.

Thursday – September 8th:

Unemployment Claims: Weekly unemployment claims came in at 222,000 and continued claims came in at 1,473,000.

Wednesday – September 7th:

MBA Purchase Index: The MBA Purchase Index came in at 197.8.
MBA Refinance Index: The MBA Refinance Index came in at 556.4.

Tuesday – September 6th:

ISM Non-Manufacturing PMI: The market was expecting the ISM Non-Manufacturing PMI to come in at 55.1 and the final report came in at 56.9.

Friday – September 2nd:

Employment Report: The market was expecting an increase of 300,000 jobs and the report came in at 315,000 jobs were created last month. The Unemployment rate moved higher to 3.7%. Generally speaking, the report had minimal impact on September 2022 mortgage rates.

Thursday – September 1st:

Unemployment Claims: Last week Unemployment Claims came in at 243,000 and this week the number of claims came in at 232,000. Continued claims came in 1,438,000.
ISM Manufacturing PMI: Last month the ISM Manufacturing PMI report came in at 52.8 and this month it came in at the same exact number; 52.8. September 2022 mortgage rates were not impacted by the report.

September 2022 Mortgage Rates In California – Average

We’ll update this section as we move further into September however to start off the month we’re seeing the following averages.

The average 30-year fixed mortgage rate is 5.50%.
The average 20-year fixed mortgage rate is 5.00%
The average 15-year fixed rate is 4.50%.

This is an average of the September 2022 mortgage rates of everyone we’re seeing; from less than perfect credit to excellent credit. Please keep in mind that mortgage rates adjust daily; sometimes multiple times during the day. For a mortgage quote specific to your situation please be sure to contact us directly.

Mortgage-Backed Securities & Treasury Snapshot

September 26th – September 30th:

Mortgage-Backed Security UMBS 5.0 started trading at the 96.50 level and the UMBS 5.5 coupon started at the 98.45level. The 10y Treasury yield was at the 3.76% level.

At the end of the week, Mortgage-Backed Security UMBS 5.0 was at the 97.30 level and the UMBS 5.5 coupon was nearing the 99.36 level. The 10y Treasury yield was at the 3.82% level.

September 19th – September 23th:

Mortgage-Backed Security UMBS 4.5 started trading at the 97.55 level and the UMBS 5.0 coupon started at the 99.38 level. The 10y Treasury yield was at the 3.49% level.

At the end of the week, Mortgage-Backed Security UMBS 4.5 was at the 96.15 level and the UMBS 5.0 coupon was nearing the 98.08 level. The 10y Treasury yield was at the 3.68% level.

September 12th – September 16th:

Mortgage-Backed Security UMBS 4.5 started trading at the 98.86 level and the UMBS 5.0 coupon started at the 100.52 level. The 10y Treasury yield was at the 3.36% level.

At the end of the week, Mortgage-Backed Security UMBS 4.5 was at the 97.80 level and the UMBS 5.0 coupon was nearing the 99.59 level. The 10y Treasury yield was at the 3.45% level.

September 1st – September 9th:

Mortgage-Backed Security UMBS 4.5 started trading at the 99.06 level and the UMBS 5.0 coupon started at the 100.64 level. The 10y Treasury yield was at the 3.25% level.

At the end of the week, Mortgage-Backed Security UMBS 4.5 was at the 98.92 level and the UMBS 5.0 coupon was nearing the 100.66 level. The 10y Treasury yield was at the 3.27% level.