WEEKLY RATE – RATES MOVE HIGHER EVEN WITH POOR JOBS REPORT
Interest rates continue to face pressure pushing the bond markets down and rate pricing up.
Rates moved to 2 month highs after the week jobs report on Friday, October 6th.
Typically, poor job creation in the US Non Farm Payroll report results in better pricing. The market viewed the numbers in a skewed way because large portions of the country were dealing with weather related issues that affected new jobs.
There was also a rise in wages reported which causes inflation. Inflation has been very low for some time and this is a big reason why mortgage interest rates have continued to stay low. If inflation increases, mortgage rates will go up with it.
With economic pressure and the tapering of the FEDs balance sheet – I think that rates will continue to move slowly higher and highly recommend locking.
You can still get a 30 year fixed rate in the 3%’s for less than a point. Not bad, all things considered.
Below are today’s interest rates. Have a great week!!
TODAY’S INTEREST RATES:
30 year fixed: 3.99% – .92 points (4.17% APR), 4.25% – 0 points (4.29% APR)
20 year fixed: 3.75% – .99 points (3.95% APR), 4.0% – 0 points (4.05% APR)
15 year fixed: 3.375% – .99 points (3.53% APR), 3.75% – 0 points (3.79% APR)
5/1 ARM: 3.5% – .93 points (3.68% APR), 3.875% – 0 points (3.92% APR)
30 year fixed FHA: 3.875% – .95 points (4.76% APR), 4.125% – 0 points (4.82% APR)
15 year fixed FHA: 3.75% – .99 points (4.25% APR), 4.125% – 0 points (4.42% APR),
30 year fixed VA: 3.875% – .88 points (4.05% APR), 4.125% – 0 points (4.18% APR)
30 year Fixed Jumbo: 3.99% – .79 points (4.15% APR), 4.125% – 0 points (4.18% APR)
7/1 ARM Jumbo: 3.375% – .92 points (3.51% APR), 3.75% – 0 points (3.81% APR)
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Reggie Green, Team Green, and Fairway Independent Mortgage in Scottsdale, Arizona, McCormick Ranch, are dedicated to providing all the best mortgage products and customer service to assist you in your home purchase or refinance in Arizona, California, Colorado, Washington, Georgia, Michigan and Virginia. Below are the products and Mortgage Rate Sheets we offer for fixed mortgages, ARM mortgages, Variable Mortgages, Interest Only Mortgages, HARP mortgages, HARP 2.0 mortgages, HARP 3.0 mortgages, DU Refi Plus Mortgages, Freddie Mac Open Access Mortgages, Fannie Mae Home Path Mortgage, Freddie Mac Foreclosure Relief Mortgage, VA mortgages, VA Interest Rate Reduction Loans, FHA mortgages, FHA streamline refinance mortgages, Conforming mortgages, Conventional Mortgages, 100% Financing Mortgage, High Balance Mortgages, Fannie Mae mortgages, Freddie Mac Mortgages, No appraisal refinance, 0 point mortgages, 0 closing cost mortgages, paying a point mortgages, Refinance mortgages, purchase mortgages, and Jumbo Mortgages. Fairway Independent Mortgage Corporation, Fairway Independent Mortgage McCormick Ranch, Team Green. Reggie Green. FairwayAZ, Fairway McCormick Ranch, Fairway Mortgage. October 9th, 2017 30 year fixed rates, October 10th 2017 30 year fixed rates, October 11th 2017 30 year fixed rates, October 12th 2017 30 year fixed rates, October 13th 2017 30 year fixed rates, October 14th 2017 30 year fixed rates, October 15th 2017 30 year fixed rates, October 16th 2017 30 year fixed rates.
WEEKLY RATE – RATES MOVE HIGHER EVEN WITH POOR JOBS REPORT
