Mortgage Rates and Repayments, Jan. 25 | Prices remain the same today

Mortgage rates and refinancing today

Mortgage rates just inches lower than yesterday. So, they are still near their lowest point since last September.

This morning, it seemed Today’s mortgage rates may be permanent or close to permanent. But that can change after hours.

Current mortgages and refinances

Program Mortgage rates APR* Changes
Clear 30 year warranty 6.278% 6.311% -0.05%
Traditional 15 year warranty 5.238% 5.293% -0.08%
Guaranteed 20 year guarantee 6.096% 6.152% -0.19%
10 year warranty 5.383% 5.499% -0.08%
30 year fixed FHA 6.266% 6.985% -0.03%
15 year fixed FHA 5.413% 5.899% -0.08%
30 years full time VA 6.197% 6.431% +0.4%
15 years full time VA 6.149% 6.507% +0.08%
ARM 5 years standard 6.686% 6.908% -0.03%
5/1 ARM FHA 6.686% 7.167% -0.03%
5/1 ARM VA 6.686% 7.167% -0.03%
Prices are provided by our network partners, and may not reflect the market. Your rate may be different. Click here for a special estimate. See our estimated prices here.

Should you lock in a mortgage rate today?

Mortgage rates have been trending upward for the past 10 days. But if you add up all those rises (and one fall), they’re not far off. A single day’s worth of skin can wipe them out.

My recommendations (below) are intended to provide long-term advice regarding the overall management of those costs. As such, they do not change daily to reflect temporary sentiment in volatile markets.

My own locksmith instructions, which I updated on Saturday:

  • LOCK when closed in 7 day
  • LOCK when closed in 15 day
  • GOOD LUCK when closed in 30 day
  • GOOD LUCK when closed in 45 day
  • GOOD LUCK when closed in 60 day

However, with so much uncertainty right now, your feelings could easily be as good as mine – or better. So let your gut and your own risk tolerance help guide you.

Why are the first two suggestions still locked? Because there is so much traffic congestion that there are opportunities that are about to close. Yes, if you like that risk, float away.

> Target: 7 Tips to get the best refinance rates

Market trends impact mortgage rates today

Here’s a picture of the state of play this morning at 9:50am (ET). The data, compared to the same time yesterday, are:

  • Of the compared to the 10 year Treasury note down to 3.45% from 3.55%. (Good for mortgage payments.) More than any other market, mortgage rates tend to follow these Treasury Department data.
  • Major stock symbol it was lower after opening. (Sometimes it’s good for mortgage payments.) When investors buy stocks, they often sell bonds, which pushes those prices down and increases yields and mortgage rates. The opposite may occur when the index is low. But this is an imperfect relationship
  • Fuel prices down to $80.19 from $81.73 a barrel. (Good for mortgage payments*.) Energy prices play an important role in economic growth and also point to future economic activity.
  • Gold price inches higher at $1,932 from $1,931 an ounce. (Interest on mortgage payments*.) Rates tend to be better when gold rises and worse when gold falls. Gold rises when investors worry about the economy.
  • CNN Business Fear & Greed index — dropped to 59 out of 65 out of 100. (Bad for mortgage payments.) “Greedy” investors. push debt prices down (and interest rates up) when they leave the debt market and move into stocks, while “fearful” investors do the opposite. So low readings are often better than high readings

*A move of less than $20 in gold prices or 40 cents in oil is a change of 1% or less. So we only count meaningful differences as good or bad for mortgage payments.

Information about markets and prices

Before the recession and the Federal Reserve’s intervention in the mortgage market, you could look at the data above and make a guess. well about what happens to the mortgage that day. But that is no longer the case. We make phone calls every day. And it’s usually right. But our record for accuracy will not reach its previous highs unless things go well.

So, use the market as a rough guide. Because it must be very strong or weak depending on them. But, with that caveat, Today’s mortgage rates seem to be unchanged or barely changing. However, be aware that “intraday changes” (when the values ​​of speed or direction change during the day) is a common phenomenon now.

Important information on today’s mortgage rates

Here are some things you should know:

  1. Generally, mortgage rates go up when the economy is good and down when the economy is bad. But there are exceptions. Read ‘How mortgage rates are calculated and why you should care
  2. Only “upper class” borrowers (with great credit scores, big down payments and good health insurance) get free ultralow mortgages you’ll see. published.
  3. There are different lenders. You may or may not follow the crowd when it comes to day-to-day activities – although they all tend to follow a general pattern over time. time
  4. When daily rate changes are small, some lenders will adjust the closing rate and leave their credit cards the same.
  5. Refinance rates are often close to those for purchases.

A lot of things are happening right now. And no one can claim to know for sure what will happen to mortgage rates in the coming hours, days, weeks or months.

Are mortgage and refinance rates rising or falling?

As I said above, mortgage rates have been on the rise lately. Yes, they have come up a lot. But it hasn’t moved enough to cause many new borrowers real problems.

However, we may see the end of the flow starting in any of the next three days. Tomorrow (gross domestic product report), Friday (inflation report) or next Wednesday, February 1, where the Federal Reserve will announce the size of the next rate increase.

One, two or all three of those factors can drive larger changes in mortgage rates. But will they push them up or down?

Of course, no one knows for sure. And one or two can push them in one direction and the other or two can push them in the other direction.

But I’m more confident now than I’ve been in months that mortgage rates will be lower in 10 days than they are now. Fingers crossed I’m right.

For more information on mortgage rates, please read the newsletter weekend edition This is a daily price report.

According to Freddie Mac data, the all-time weekly low for mortgages was set on January 7, 2021, when it stood at 2.65% for conventional, 30-year, fixed-rate mortgages.

Freddie’s January 19 The report put the average weekly rate at 6.15%, below from last week 6.33%.

In November, Freddie stopped including discount points in its statements. It is also delayed until the date of publication of his reports which is Thursday. and, from now on, we will update this section on Fridays.

Professional mortgage rate information

Looking ahead, Fannie Mae, Freddie Mac and the Mortgage Bankers Association (MBA) each have a group of investors who monitor and predict what will happen in the economy, housing units and mortgage payments.

And here are their estimates for the current quarter (Q4/22) and the first three quarters of the new year (Q1/23, Q2/23 and Q3/24).

The numbers in the table below are for 30-year, fixed-rate mortgages. Fannie’s and the MBA’s forecast appeared on Jan. 20. Freddie’s was published on October 21. Freddie’s now publishes its quarterly forecasts and its figures can quickly deteriorate.

Spectators Q4/22 Q1/23 Q2/23 Q3/23
Fannie Mae 6.7% 6.4% 6.4% 6.2%
Freddie Mac 6.8% 6.6% 6.5% 6.4%
MBA 6.6% 6.2% 5.6% 5.4%

Of course, because of the many unknowns, the current total may be more speculative than usual. And their past record for accuracy has not been very impressive.

Find your lowest price today

You should compare prices widely, regardless of the type of mortgage you want. As the federal regulation Consumer Protection Agency said:

“Shopping around for your mortgage has the potential to lead to real savings. It may not look like much, but save even a quarter of a point on your mortgage to save thousands of dollars over the life of your loan.”

How to rate mortgages

Mortgage Reports get rates at selection criteria from many loan partners each day. We arrive at a standard rate and APR for each type of loan shown in our chart. Since we average many prices, it gives you a better idea of ​​what you might find in the market. In addition, our average rates for similar loan types. For example, FHA bonds and FHA bonds. The result is a good picture of daily prices and how they change over time.

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