30 Year Fixed
4.23%    +0.01
15 Year Fixed
3.59%    +0.01
10YR Treasury
2.66%    +0.0374
FNMA 30YR 3.5
101.27    -0.27
FNMA 15YR 2.5
100.80    -0.16
Worst Week Since June for Mortgage Rates
January 19, 2018

Mortgage rates remained at 9-month highs today, with most lenders in worse shape than yesterday.  In the morning, the sky hadn't yet fallen, the average lender was right in line with yesterday's 9-month highs, but at least we weren't any worse off than yesterday.  Things changed in the afternoon as bond markets weakened abruptly.  Many lenders issued negative reprices, thus leaving the average lender noticeably higher than yesterday.

Today's weakness makes this the worst week for rates since late June and one of only 3 weeks with as much of a rate spike since 2016. For the third day in a row, I'm repeating the same mantra: any time we're pushing long-term highs, it's a good idea to remain defensive in terms of locking vs floating.  The saving grace is that long-term highs typically precede extended periods of positivity for rates.  It's just a matter of figuring out if these long term highs are high enough to rebalance the scales in the bond market.


Loan Originator Perspectives

Not a great January for rates so far, but remember, we are still seeing very low rates overall. It is still a great time to purchase, or refinance for some cash-out at these numbers. In terms of day-to-day lock/float decisions, locking isn't the wrong decision here, and as always, discuss the risks of floating with your Loan Officer so you have a clear understanding of what you can lose versus what you can gain.  -Ira Selwin - VP of Capital Markets at US Mortgage Corporation


Today's Most Prevalent Rates

  • 30YR FIXED - 4.125%-4.25%
  • FHA/VA - 3.75% 
  • 15 YEAR FIXED - 3.375%-3.5%
  • 5 YEAR ARMS -  2.75 - 3.25% 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 4th quarter, relative to the stability and improvement seen earlier in 2017

  • The default stance for now is that this trend toward higher rates has the potential to continue.  It will take more than a few great days here and there for that outlook to change.

  • For weeks, this bullet point had warned about recent stability inviting a bigger dose of volatility.  That volatility is now here.  As such, locking is generally the better choice until the volatility is clearly dying down.
  • 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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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 4.23% +0.01
15 Yr FRM 3.59% +0.01
FHA 30 Year Fixed 4.00% +0.00
Jumbo 30 Year Fixed 4.36% +0.01
5/1 Yr ARM 3.29% +0.00
Average Mortgage Rates
Rate Points Change
FHFA *
15 Yr. Fixed 3.45% 1.22 -0.02
30 Yr. Fixed 4.14% 1.32 -0.01
MBA **
30 Yr. Fixed 4.06% 0.38 -0.05
15 Yr. Fixed 3.34% 0.38 -0.02
30 Yr. Jumbo 3.96% 0.20 -0.04
30 Yr. FHA 3.98% 0.35 -0.04
5/1 ARM 3.14% 0.31 -0.12
Freddie Mac **
30 Yr. Fixed 4.04% 0.60 +0.05
15 Yr. Fixed 3.49% 0.50 +0.05
1 Yr. ARM 2.68% 0.20 +0.01
5/1 Yr. ARM 3.46% 0.30 +0.00
* 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 98.38 -0.33
30YR FNMA 3.5 101.27 -0.27
30YR GNMA 3.0 99.69 -0.22
30YR GNMA 3.5 102.27 -0.23
15YR FNMA 3.0 100.80 -0.16
15YR FNMA 2.5 98.75 -0.17
Treasuries
Yield Change
2 YR 2.0689% +0.0255
5 YR 2.4525% +0.0344
10 YR 2.6611% +0.0374
30 YR 2.9331% +0.0322
Prices as of: 1/19/2018 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:
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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.