Current Mortgage Rates 4/24/2017
|Conv. 30 Year Fixed||4.250%||4.295%|
|Conv. 15 Year Fixed||3.375%||3.452%|
|FHA 30 Year Fixed||3.750%||4.775%|
|VA 30 Year Fixed||3.750%||3.957%|
Rates are based on these Terms & Conditions
YTD Mortgage Rate Trend
Weekly Market Commentary
Freddie Mac: http://www.freddiemac.com/pmms/
The 30-year mortgage rate fell 11 basis points this week to 3.97 percent, dropping below the psychologically-important 4 percent level for the first time since November. Weak economic data and growing international tensions are driving investors out of riskier sectors and into Treasury securities. This shift in investment sentiment has propelled rates lower.
Mortgage News Daily: http://www.mortgagenewsdaily.com/reports/weekly_mortgage_rates/
Mortgage rates were sideways to slightly higher this week as global financial markets braced for volatility surrounding this weekend’s French election. While it may seem like a world away from the domestic mortgage market, events that potentially impact the stability of the European Union have a strong track record of filtering through to movement in domestic bond markets. And bond markets are the primary driver of day-to-day movement in mortgage rates.
In addition to preparations for the weekend’s events, traders also reacted to today’s headlines concerning tax reform. On Friday, the Associated Press reported that Trump would announce his tax plan next week and that it would be bigger than “any tax cut ever.” In general, the promise of tax cuts has fueled stock market gains at the expense of interest rates. True to form, stocks and bond yields (which correlate with mortgage rates) moved higher after the announcement.
Most lenders remained in similar territory compared to last Friday afternoon, with 4.0% being the most prevalent conventional 30yr fixed quote on top tier scenarios. Next week holds increased potential for volatility with the reaction to the French election and the apparent tax reform announcement.