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State Name: District of Columbia
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  • Mortgage Rates Rising Ahead of FOMC Statement and Inflation Data

    Two better than expected economic headlines did not have a positive influence over the bond market. Following the release of PPI data, Treasury yields shot higher and MBS prices fell. Consequently, mortgage rates have risen today. Reports from fellow mortgage professionals indicate the par 30 year conventional rate mortgage has risen to the 4.875% to 5.125% range for well qualified consumers. There are however still a few lenders offering 4.75%. To secure a par interest rate you must have a FICO credit score of 740 or higher, a loan to value at 80% or less and pay all closing costs including an estimated one point loan origination/discount/broker fee. You may elect to pay less in fees but you will have to accept a higher interest rate. This is a good option for consumers who do not plan on keeping their home for a longer than three years. With more inflation data tomorrow and the Fed statement which can offer many surprises...I am locking any loans I have left in the pipeline....
  • Mortgage Rates Fighting Off Rallying Stocks

    The theme in the secondary mortgage market this week has been volatility. Prices of mortgage backed securities have moved around a wide range as traders attempt to balance their uncertain long term economic outlooks with optimistic short term sentiment in stocks. This ongoing struggle has mostly insulated mortgage rates from movements in related markets, but not totally. Today, mortgage backed securities opened lower in price and most lenders moved mortgage rates higher. ...
 

More From MND

Mortgage Rates:
  • 30 Yr FRM 3.90%
  • |
  • 15 Yr FRM 3.26%
  • |
  • Jumbo 30 Year Fixed 4.15%
MBS Prices:
  • 30YR FNMA 4.5 106-17 (-0-03)
  • |
  • 30YR FNMA 5.0 107-32 (-0-01)
  • |
  • 30YR FNMA 5.5 108-31 (0-01)
Recent Housing Data:
  • Mortgage Apps -1.01%
  • |
  • Refinance Index 0.83%
  • |
  • NAHB Builder Confidence 16.00%
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