30 Year Fixed
4.65%    -0.03
15 Year Fixed
4.11%    -0.02
10YR Treasury
2.92%    -0.0128
FNMA 30YR 3.5
99.11    +0.02
FNMA 15YR 2.5
99.00    -0.03
Mortgage Rates Inch to Week's Best Levels
June 15, 2018

Mortgage rates fell again today, bringing the average rate just slightly lower on the week.  Unlike the past 2 days, there were no big ticket calendar events today.  Instead, motivation came from market jitters of new tariff announcements and the ensuing retaliation from China.  Markets ultimately decided it wasn't the end of the world (yet) and bounced back in the other direction (higher stocks, higher rates) during the 2nd half of the day. 

Fortunately, the bounce in rates (via the bond market) wasn't big enough to force mortgage lenders to adjust their rate sheets for the worse.  That knife cuts both ways though.  If bonds were to merely hold flat by the start of Monday's trading, the implication would be for slightly higher rates to begin the day.

Loan Originator Perspective

Rally makes it time to Lock if you have not already done so.  Cautiously floating for loans closing later than 30 days. -Al Hensling

Unless your rate sheets show some nice gains, i think i would roll the dice and float over the weekend.  I feel lenders tend to be conservative with pricing on a Friday when bonds are rallying.  As always, if you are happy with current pricing lock and forget it. -Victor Burek

Bond markets survived a week filled with potential perils, emerging near the low end of rates' recent ranges.  I'm not sure there's much room for further improvement without dramatic motivation.  50/50 lock/float, but if you float, don't get greedy.  "Pigs get fat, but hogs get slaughtered". -Ted Rood

Today's Most Prevalent Rates

  • 30YR FIXED - 4.625
  • FHA/VA - 4.375%
  • 15 YEAR FIXED - 4.00%
  • 5 YEAR ARMS -  3.75-4.25% depending on the lender

Ongoing Lock/Float Considerations

  • Rates have been moving higher in a serious way due to headwinds that cannot be quickly defeated.  These include the Fed's increasingly restrictive monetary policy outlook, the increased amount of Treasury issuance to pay for the tax bill (higher bond issuance = higher rates), and the possibility that fiscal stimulus results in higher growth/inflation.

  • While we may see periodic corrections to the broader trend toward higher rates, it's safer to assume that broader trend can and will continue.  Until that changes, it makes much more sense to remain heavily-biased toward locking as opposed to floating.
  • 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:
Oliver Orlicki
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Innovative Mortgage Services
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As a licensed mortgage originator, I work hand-in-hand with homebuyers and homeowners to explore and secure or refinance loans that suit their needs. Guiding and advising my clients every step of the way, from application to closing, I help them ...view more
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Today's Rates
Best Execution
Rate Change
30 Yr FRM 4.65% -0.03
15 Yr FRM 4.11% -0.02
FHA 30 Year Fixed 4.38% -0.04
Jumbo 30 Year Fixed 4.68% -0.03
5/1 Yr ARM 3.95% +0.00
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 4.68% 0.46 -0.01
15 Yr. Fixed 4.12% 0.51 +0.05
30 Yr. Jumbo 4.55% 0.37 +0.00
30 Yr. FHA 4.69% 0.81 -0.04
5/1 ARM 3.83% 0.68 -0.10
Freddie Mac **
30 Yr. Fixed 4.62% 0.40 +0.08
15 Yr. Fixed 4.07% 0.40 +0.06
1 Yr. ARM 2.68% 0.20 +0.01
5/1 Yr. ARM 3.83% 0.30 +0.09
* 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 96.39 +0.05
30YR FNMA 3.5 99.11 +0.02
30YR GNMA 3.0 97.58 +0.03
30YR GNMA 3.5 100.17 +0.03
15YR FNMA 3.0 99.00 -0.03
15YR FNMA 2.5 96.83 -0.09
Yield Change
2 YR 2.5533% -0.0163
5 YR 2.7991% -0.0085
10 YR 2.9223% -0.0128
30 YR 3.0473% -0.0080
Prices as of: 6/15/2018 5:07PM 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.