Interest Rates on the Rise a

Interest rates
Good Afternoon-
We are seeing some erosion in mortgage pricing today causing rates to drift higher. This is primarily due to the release of some economic data that was released this morning that indicates the economy is doing better than projected. We also have political uncertainty in Ukraine and Israel which makes markets move somewhat erratically. Rates are drifting higher and are likely to move up about an .125% if the mortgage bond market continues to lose ground. Unemployment data is due to be released Friday at 8:30am which is always a major economic event so rates may move again Friday. I encourage you to have your clients seriously consider locking a rate if they are under contract. I have provided current rates below. Let me know if questions.
Thanks
Richard
Jumbo
30 year fixed – 4.125% no points/no origination
10/1 ARM – 3.500% – no points/no origination
7/1 ARM – 3.125% – no points/no origination
5/1 ARM – 3.000% – no points/no origination
Conforming
 
30 year fixed – 4.250% no points/no origination
10/1 ARM – 3.875% no points/no origination
7/1 ARM – 3.500% no points/no origination
5/1 ARM – 3.375% no points/no origination
Richard Young
Private Mortgage Banker
NMLSR ID 659088
Wells Fargo Home Mortgage  |  3280 Peachtree Rd Ne  |  Atlanta, GA  30305
MAC G0141-032
Tel (404) 504-2852  |  Cell (404) 245-2556  |  Fax (866) 633-3523

Leave a Reply

You must be logged in to post a comment.