Mortgage rates up slightly, but still under 4%

Just what’s up with home loan prices? Jeff Lazerson of Home mortgage Grader in Laguna Niguel provides us his take.


From Freddie Mac’s once a week study: The 30-year dealt with climbed up 6 basis points, getting worse to 3.82 percent from last week’s 3.76 percent. The 15-year set moved up as well, landing at 3.03 percent, 4 basis factors greater compared to last week’s 2.99 percent.

These Freddie Mac lookback numbers do not show the late-week substantial rally in the bond market which in fact has the 10-year Treasury bond under 2 percent once again.

BASE LINE: Presuming a borrower obtains the typical 30-year adapting fixed rate on a $417,000 loan, last year’s price of 3.97 percent and settlement of $1,984 is $36 more compared to this week’s payment of $1,948.

The Home mortgage Bankers Organization reports a reducing the effects of failure of virtually 28 percent in financing application volume, balancing out last week’s 25 percent eye-popping gain.

WHAT I SEE: From rate sheets hitting my workdesk that are not part of Freddie Mac’s survey: Locally, well qualified borrowers can get the following financings for no-cost: a 5/1 flexible rate home loan or ARM (taken care of for the first 5 years, adjusting yearly then) at 3.375 percent; a 7/1 ARM at 3.50 percent; a 15-year repaired at 3 percent as well as a 30-year taken care of at 3.75 percent.

Home mortgage broker Jeff Lazerson can be gotten to at 949-334-2424 or Twitter: @mortgagegrader_

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