September 21, 2017 Mortgage Rates

Mortgage rates for September 21, 2017 are a bit worse after the FOMC announcement yesterday afternoon.  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 will be a bit worse mortgage interest ratewhen compared to yesterday morning. Yesterday we had Existing Home Sales, MBA Purchase index, MBA Refinance index, Oil and the FOMC rate decision.  Today we have the Philly Fed Index, weekly Jobless Claims and Monthly Home Price index.

Current mortgage rates continue to be under pressure due to the spike in selling in the bond market after the FOMC announcement yesterday.  Yesterday afternoon the 10y yield hit a high of 2.28%.  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).

The 10y yield started off the day at the 2.27% level and the FNMA 30y 3.5 started off the day at the 103.09 level and currently sitting at the 103.16 level.  Today we have the Philly Fed Index, weekly Jobless Claims and Monthly Home Price index.  The Philly Fed Index came in stronger than anticipated and the weekly Jobless Claims were weaker than expected.  Like the Philly Fed Index the Monthly Home Price index was also stronger than expected.

If you are looking to purchase a new home or refinance your current mortgage please be sure to give us a call and ask for our zero point/zero lender fee loan program.  Call us directly at 1-800-550-5538.