Pete’s Interest Rate Page,
Rates for home loans fell in tandem with the bond market, a welcome respite for the housing market after a recent run-up in home financing costs.
Mortgage rates follow the path of the 10-year U.S. Treasury noteTMUBMUSD10Y, +0.30% , but with a lag. That means that Freddie’s “weekly” survey, though dated and released Thursday morning, tends to capture mortgage and bond market activity from earlier in the week.
After zooming to a seven-year high earlier in October, bond yields have settled lower. Investors sold bonds after statements from the Federal Reserve signaled the central bank was likely to keep raising interest rates, and as a fresh supply of government debt has flooded onto the market to pay for surging deficit spending. Both trends would diminish the value of bonds that have already been issued, and bond yields rise as prices fall.
Average mortgage rates are as follows:
Purchase, SFR, owner occupied.
$453,000 loan amount 30 YR fix @ 4.99 %, 15 YR @ 4.5% fix with no broker fees. $453,000 loan amount 5 YR fix @ 4.125 %, 30 YR fix @ 4.625 %, 15 YR fix @ 3.875% with broker fees.
$679,000 loan amount 30 YR fix @ 5.25 %, 15 YR fix @ 5 % with no broker fees. $679,000 loan amount 7 YR fix @ 4.375 %, 30 YR fix @ 4.75 %, 15 YR fix @ 4 % with broker fees.
$800,000 loan amount 30 YR fix @ 5.5 % with no broker fees. $800,000 loan amount 30 YR fix @ 4.875 % , 15 YR @ 4.5 % with broker fees
All pricing is based on 80 % ltv no MI, Fico score 740 plus.
