WEEKLY RATE – Mortgage Rates Hit 3 Week Lows after FED raises Federal Funds Rate
Everyone in the market expected the FED to raise interest rates on March 15th. So when that happened, the market had already cooked the movement in. What made interest rates improve at their fastest rate in 2017 was the FED Future rate increase outlook which did not increase.
This caused the Mortgage Backed Security (MBS) market to end March 15th up a whopping + 73 bps. That improvement has continued and the MBS market is up + 121 bps since March 15th, pushing rates to their lowest levels in over 3 weeks.
More political uncertainty in the news is also causing some investors to flee to the safety of bonds, helping mortgage interest rates.
For a no obligation mortgage quote, please go to:
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Below are today’s interest rates. Have a great week!!
TODAY’S INTEREST RATES:
30 year fixed: 4.125% – .99 points (4.32% APR), 4.375% – 0 points (4.38% APR)
20 year fixed: 3.99% – .56 points (4.1% APR), 4.125% – 0 points (4.15% APR)
15 year fixed: 3.375% – .99 points (3.57% APR), 3.75% – 0 points (3.77% APR)
30 year Fixed High Balance: 4.125% – 1 point (4.32% APR), 4.375% – 0 points (4.39% APR)
30 year Fixed Jumbo: 4.125% – .92 points (4.31% APR), 4.375% – 0 points (4.41% APR)
30 year fixed FHA: 4.0% – .76 points (4.85% APR), 4.25% – 0 points (4.95% APR)
15 year fixed FHA: 3.625% – 1 point (4.12% APR), 4.0% – 0 points (4.3% APR)
30 year fixed VA: 3.875% – 1 point (4.07% APR), 4.25% – 0 points (4.27% APR)
-Reginald Patrick Green Jr. -Branch Manager. NMLS #229993. AZ License: BK-0913980. -AZ NMLS LIC#: DOC229993, CO NMLS LIC# 1000323838, CA NMLS LIC# DOC229993. -Fairway Independent Mortgage Corporation. 2325 East Camelback Road, Suite 100, Phoenix, AZ, 85016. 480-206-5577, reggie.green@fairwaymc.com. Corporate Address: Fairway Independent Mortgage Corporation. 2425 New Pinery Rd Ste 102, Portage, WI 53901. #2293. Equal Housing Lender. -National Mortgage Licensing (NMLS) Link. http://nmlsconsumeraccess.org/EntityDetails.aspx/COMPANY/2289. -Customer Info or complaints: Complaints may be directed to 877-699-0353, customerservice@fairwaymc.com.-LegalDisclosure: https://www.fairwayindependentmc.com/~/media/files/pdf/legal-disclosures.pdf?la=en. -Privacy Policy: https://www.fairwayindependentmc.com/~/media/files/pdf/privacy-policy.pdf?la=en.-Terms of Use: https://www.fairwayindependentmc.com/~/media/files/pdf/terms-of-use.pdf?la=en. -Copywright 2017 Fairway Independent Mortgage Corporation.
WEEKLY RATE – Mortgage Rates Hit 3 Week Lows after FED raises Federal Funds Rate
