30 Year Fixed
3.94%    -0.01
15 Year Fixed
3.22%    -0.01
10YR Treasury
2.20%    +0.0121
FNMA 30YR 3.5
103.28    -0.06
FNMA 15YR 2.5
102.98    -0.08
More 2017 Lows for Rates; More Trump Drama
August 18, 2017

Mortgage rates moved lower again.  Drama surrounding the Trump administration was also present.  But this time around, the political theater wasn't responsible for the move lower in rates.  In fact, it resulted in multiple lenders adjusting rate sheets higher in the middle of the day.  Fortunately, rates fell enough in the morning that the net result was still positive.  The average lender is at new lows for 2017 (lowest since just after the November 2016 election, in fact).  

3.875% is now the most prevalently-quoted conventional 30yr fixed rate for top tier scenarios, although quite a few lenders remain at 4.00%.  

Next week brings the normally-hotly-anticipated Jackson Hole symposium, but with monetary policy for both the Fed and the European Central Bank essentially an open book of late, market participants aren't expecting too much drama. 


Loan Originator Perspective

Yet another day of limited movement in bond markets today, despite more rumors of administration discord/departures. I'm not locking most loans until 30 days before closing. This range will break, someday, but it doesn't look like that day is today. Happy Friday! -Ted Rood, Senior Originator

After starting the day in positive territory, bonds are starting to leak into the close. They apparently do not like the waters below the 2.21 level on the 10 year treasury note. Even though I am not a fan of locking on Friday, my clients are deciding to pull the trigger today. I just do not see much benefit right now in floating, locking is the way to go.   -Victor Burek, Churchill Mortgage


Today's Most Prevalent Rates

  • 30YR FIXED - 3.875-4.00%
  • FHA/VA - 3.5-3.75% 
  • 15 YEAR FIXED - 3.25%
  • 5 YEAR ARMS -  2.75 - 3.25% depending on the lender


Ongoing Lock/Float Considerations

  • Investors were relatively convinced that the decades-long trend toward lower rates had been permanently reversed after Trump became president, but such a conclusion would require YEARS to truly confirm

  • Instead of continuing higher in 2017, rates instead formed a narrow, sideways range, and held inside until April.  Investor perceptions are shifting such that fiscal reforms and other policy developments will need to live up to expectations in order to push rates higher.  Geopolitical risks would also need to avoid flaring up (more than they already have)
     
  • For the first time since the election, we're in a rate environment where you wouldn't be crazy not to lock at every little opportunity/improvement.  Until/unless it's broken, the highest rates of early-2017 mark the ceiling, and we're now waiting to see how much lower we can go from here.
     
  • Rates discussed refer to the most frequently-quoted, conforming, conventional 30yr fixed rate for top tier borrowers among average to well-priced lenders.  The rates generally assume little-to-no origination or discount except as noted when applicable.  Rates appearing on this page are "effective rates" that take day-to-day changes in upfront costs into consideration.

30 Year Fixed Rate Mortgage
15 Year Fixed Rate Mortgage
Co-branded Daily Rate Report for:
Kathryn Thompson
Managing Director
Apartment Financing America
Email Me | Visit My Website
(469) 729-3802
View My Profile
Today's Rates
Best Execution
Rate Change
30 Yr FRM 3.94% -0.01
15 Yr FRM 3.22% -0.01
FHA 30 Year Fixed 3.60% +0.00
Jumbo 30 Year Fixed 4.22% +0.00
5/1 Yr ARM 3.17% -0.01
Average Mortgage Rates
Rate Points Change
FHFA *
15 Yr. Fixed 3.06% 1.30 +0.03
30 Yr. Fixed 3.76% 1.38 +0.03
MBA **
30 Yr. Fixed 4.13% 0.32 +0.00
15 Yr. Fixed 3.39% 0.33 -0.01
30 Yr. Jumbo 4.09% 0.20 +0.01
30 Yr. FHA 4.02% 0.41 -0.02
5/1 ARM 3.31% 0.25 +0.05
Freddie Mac **
30 Yr. Fixed 3.89% 0.40 -0.01
15 Yr. Fixed 3.16% 0.50 -0.02
1 Yr. ARM 2.68% 0.20 +0.01
5/1 Yr. ARM 3.16% 0.40 +0.02
* FHFA averages are updated monthly.
** Mortgage Bankers Association (each Wednesday) and Freddie Mac (each Thursday) averages are updated weekly.
Secondary Markets
MBS
Price Change
30YR FNMA 3.0 100.67 -0.08
30YR FNMA 3.5 103.28 -0.06
30YR GNMA 3.0 101.64 -0.23
30YR GNMA 3.5 104.02 -0.17
15YR FNMA 3.0 102.98 -0.08
15YR FNMA 2.5 101.06 -0.05
Treasuries
Yield Change
2 YR 1.3136% +0.0119
5 YR 1.7639% +0.0147
10 YR 2.1974% +0.0121
30 YR 2.7785% +0.0054
Prices as of: 8/18/2017 5:06PM EST
MBS and Treasury data provided by Thomson Reuters.
Mortgage News Daily and MBS Live! are exclusive re-distributors of Real Time Thomson Reuters Mortgage Information.
Secondary Marketing Managers:
If you are interested in gaining access to the most accurate real-time back-month TBA indications from Thomson Reuters and Tradeweb. Request More Information
About This Report
Mortgage News Daily is a trusted source of mortgage rate market data and analysis, with over 1 million readers each month. Unlike many rate surveys, our survey is conducted on a daily basis and is designed to bring you the most current and accurate rate data available.  We use a proprietary formula to calculate averages based on best-execution rates from top lender's rate sheets, also taking into account feedback from hundreds of mortgage market professionals around the country.