WEEKLY RATE – Interest Rates Drop to 2 Week Lows
After trending higher for the past 2 weeks, mortgage rates dropped to 2 week lows with strong movement in the bond market on Friday of last week.
Last week, the Mortgage Backed Security (MBS) market was trading down -67 bps through Thursday. On Friday, the MBS market trended heavily the other way gaining back much of the losses. MBS ended the day up + 45 bps.
The main take away from this is a trend towards even higher rates was thwarted and we are seeing some correction in the bond market with the MBS trading higher this week.
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Below are today’s interest rates. Have a great week!!
TODAY’S INTEREST RATES:
30 year fixed: 3.99% – .90 points (4.19% APR), 4.25% – 0 points (4.27% APR), 4.375% – $0 costs (4.375% APR)
20 year fixed: 3.875% – .5 points (3.98% APR), 3.99% – 0 points (4.04% APR), 4.25% – $0 costs (4.25% APR)
15 year fixed: 3.25% – .99 points (3.45% APR), 3.625% – 0 points (3.67% APR), 3.875% – $0 costs (3.875% APR)
7/1 ARM: 3.625% – .79 points (3.78% APR), 4.0% – 0 points (4.05% APR)
30 year fixed FHA: 3.875% – .81 points (4.7% APR), 4.125% – 0 points (4.82% APR), 4.375% – $0 costs (outside of FHA Fee) (5.07% APR)
15 year fixed FHA: 3.625% – .91 points (4.1% APR), 3.875% – 0 points (4.17% APR)
30 year fixed VA: 3.75% – .93 points (3.94% APR), 4.125% – 0 points (4.17% APR), 4.375% – $0 costs (4.375% APR)
30 year Fixed Jumbo: 4.0% – .62 points (4.12% APR), 4.125% – 0 points (4.17% APR),
7/1 ARM Jumbo: 3.25% – .84 points (3.4% APR), 3.5% – 0 points (3.55% 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 – INTEREST RATES DROP TO 2 WEEK LOWS
