30 Year Fixed
4.53%    +0.00
15 Year Fixed
3.91%    +0.00
10YR Treasury
2.86%    +0.0110
FNMA 30YR 3.5
99.73    -0.08
FNMA 15YR 2.5
99.58    -0.03
Mortgage Rates Maintain Flat Trajectory Ahead of Fed
March 19, 2018

Mortgage rates have been on a tear recently, moving sideways with reckless abandon.  Since the middle of February, the "effective rate" (based on actual rate sheet offerings and upfront costs) has held inside a narrow range of 4.52% and 4.58%.  This lies in stark contrast to the persistent move higher during the first month and a half of 2018 which saw the same effective rate rise from roughly 4.0% into the 4.5% range. 

When rates are as flat as they are on the approach to a key market event like this Wednesday's Fed announcement.  We often see a break in that narrow range after the key event.  For now, there's no reason to believe Wednesday WON'T be such a day this time around.  Even if Wednesday turns out to be a dud in terms of its impact on rates, it's always safest to plan for the risk (or opportunity) of a sharper move in rates for better or worse.

Loan Originator Perspective

Bonds recouped early losses today, despite a lack of meaningful data.  There's no meaningful data on the economic calendar before Wednesday's Fed decision and statement.  Both treasury yields and MBS prices are still squarely within recent ranges.  I'm continuing to lock early until I see improvement lasting more than a day or two.  -Ted Rood, Senior Originator

Today's Most Prevalent Rates

  • 30YR FIXED - 4.5-4.625%
  • FHA/VA - 4.375%
  • 15 YEAR FIXED - 3.875%
  • 5 YEAR ARMS -  3.5-3.75% depending on the lender

Ongoing Lock/Float Considerations

  • 2017 had proven to be a relatively good year for mortgage rates despite widespread expectations for a stronger push higher after the presidential election in late 2016. 

  • While rates remain low in absolute terms, they moved higher in a more threatening way heading into the beginning of 2018

  • The scariest part of the move higher looks like it ended as of early February, and rates have been generally sideways since then

  • Even so, the potential remains for more weakness (i.e. higher rates).  It makes more sense to remain defensive (i.e. more inclined to lock) until we've seen a more convincing shift lower.
  • 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
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Today's Rates
Best Execution
Rate Change
30 Yr FRM 4.53% +0.00
15 Yr FRM 3.91% +0.00
FHA 30 Year Fixed 4.32% +0.01
Jumbo 30 Year Fixed 4.55% -0.01
5/1 Yr ARM 3.65% +0.01
Average Mortgage Rates
Rate Points Change
15 Yr. Fixed 3.65% 1.14 +0.09
30 Yr. Fixed 4.19% 1.21 +0.02
MBA **
30 Yr. Fixed 4.64% 0.61 +0.07
15 Yr. Fixed 4.02% 0.66 +0.02
30 Yr. Jumbo 4.62% 0.50 +0.07
30 Yr. FHA 4.58% 0.71 +0.04
5/1 ARM 3.72% 0.39 -0.02
Freddie Mac **
30 Yr. Fixed 4.44% 0.50 -0.02
15 Yr. Fixed 3.90% 0.50 -0.04
1 Yr. ARM 2.68% 0.20 +0.01
5/1 Yr. ARM 3.67% 0.40 +0.04
* FHFA averages are updated monthly.
** Mortgage Bankers Association (each Wednesday) and Freddie Mac (each Thursday) averages are updated weekly.
Secondary Markets
Price Change
30YR FNMA 3.0 96.92 -0.05
30YR FNMA 3.5 99.73 -0.08
30YR GNMA 3.0 97.86 -0.16
30YR GNMA 3.5 100.47 -0.20
15YR FNMA 3.0 99.58 -0.03
15YR FNMA 2.5 97.48 -0.06
Yield Change
2 YR 2.3116% +0.0166
5 YR 2.6536% +0.0101
10 YR 2.8555% +0.0110
30 YR 3.0875% +0.0105
Prices as of: 3/19/2018 4:42PM 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.
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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.