What’s driving mortgage rates today?
Average mortgage rates inched up on Friday, though only by the smallest measurable amount. That was in line with our prediction. Yes, they currently look a little high compared to the last month’s levels. But they’re exceptionally low compared to almost any other period.
Markets kicked off the week in ways that are unfriendly to mortgage rates. Investors this morning were cheered by remarks out of Beijing over the weekend concerning the prospects for a US-China trade deal. They’re also hopeful about some corporate results out today. Things could change if the British parliament either blocks the current proposals for a Brexit deal or passes them.
But, for now, mortgage rates today look likely to rise today. However, as always, events (and especially ones emanating from London, England) might overtake that prediction.
|Conventional 30 yr Fixed||3.913||3.913||Unchanged|
|Conventional 15 yr Fixed||3.583||3.583||Unchanged|
|Conventional 5 yr ARM||4.438||4.3||Unchanged|
|30 year fixed FHA||3.292||4.276||Unchanged|
|15 year fixed FHA||3.292||4.24||Unchanged|
|5 year ARM FHA||3.458||4.563||Unchanged|
|30 year fixed VA||3.333||3.503||Unchanged|
|15 year fixed VA||3.208||3.517||Unchanged|
|5 year ARM VA||3.458||3.755||Unchanged|
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