WEEKLY RATE – Interest Rates Move Higher With Trump Corporate Tax Cut Announcement
Interest Rates are starting to move higher again due to a variety of market factors.
Much of the lower interest rate pricing the last 2 weeks was due to geopolitical fears and investors moving their money to the safety of bonds. That fear has subsided some, pushing rate pricing up at the end of last week.
This week Trump announced plans to cut the Corporate Tax percentage from 39% to 15% and he is laying out the details of his new plan Wednesday 4/26. This is viewed as a positive for business and stocks, thus hurtful to bonds and interest rates. The DOW has jumped 400 points the past 2 days and NASDAQ hit a new all time high.
The Mortgage Backed Security Market (MBS) closed last week down – 25 bps and is trading down – 40 bps this week.
I don’t see interest rate pricing dropping in the near future unless a geopolitical event stirs up investors to flee back to the bond market. Much safer to lock than float at this point.
For a no obligation mortgage quote, please answer questions on right of web page or go to:
Below are today’s interest rates. Have a great week!!
TODAY’S INTEREST RATES:
30 year fixed: 4.0% – 1 point (4.2% APR), 4.25% – 0 points (4.3% APR), 4.5% – $0 costs (4.5% APR)
20 year fixed: 3.875% – .73 points (4.02% APR), 3.99% – 0 points (4.06% APR), 4.25% – $0 costs (4.25% APR)
15 year fixed: 3.25% – 1 point (3.45% APR), 3.625% – 0 points (3.69% APR), 3.875% – $0 costs (3.875% APR)
7/1 ARM: 3.625% – .74 points (3.77% APR), 3.875% – 0 points (3.91% APR)
30 year fixed FHA: 3.875% – .99 points (4.77% APR), 4.25% – 0 points (4.95% APR), 4.5% – $0 costs (outside of FHA Fee) (5.2% APR)
15 year fixed FHA: 3.625% – 1 point (4.12% APR), 3.875% – 0 points (4.17% APR)
30 year fixed VA: 3.875% – .82 points (4.03% APR), 4.125% – 0 points (4.2% APR), 4.5% – $0 costs (4.5% APR)
30 year Fixed Jumbo: 4.125% – .75 points (4.27% APR), 4.375% – 0 points (4.41% APR), 4.5% – 0 costs (4.5% APR)
7/1 ARM Jumbo: 3.375% – 1 point (3.58% APR), 3.75% – 0 points (3.8% APR)
WEEKLY RATE – Interest Rates Move Higher With Trump Corporate Tax Cut Announcement
