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Today's Interest Rate News

May 23, 2017:  8:09am

Good morning!

Interest rate trends: Today – Flat; 10 days – Lower; 25 days – Flat

Interest rate recommendation: Very cautious float

Mortgage Backed Securities (MBS’s) are flat at present, but have been both positive and negative already.  In economic news, New Home Sales came in worse than expected, helping MBS’s but short lived.  Tomorrow we will get Existing Home Sales and if they resemble the New Home Sales report, we could get some betterment to interest rates.  New Home inventory went from 4.9 months to 5.7months.  While interest rates remained the same, lender credits did improve slightly from yesterday.  We will very cautiously float into tomorrows Existing Home Sales report.  Have a great day! 

30 Year fixed

Cost/-Credit

APR

Change from yesterday

3.750%

0.625%

3.813%

Lender credits improved by .125%

3.875%

0.000%

3.894%

Lender credits improved by .125%

4.000%

-0.875%

3.956%

Lender credits improved by .125%

15 Year fixed

 

 

 

3.125%

0.125%

3.172%

Lender credits improved by .125%

3.250%

-0.625%

3.205%

Lender credits improved by .125%

3.375%

-1.125%

3.269%

Lender credits improved by .125%

7/1 ARM

 

 

 

3.250%

0.625%

3.311%

No change

3.375%

0.250%

3.410%

No change

3.500%

0.000%

3.518%

No change

30 Year FHA

 

 

 

3.750%

-0.750%

4.715%

Lender credits improved by .25%

 

To obtain the most accurate interest rates for your specific situation, please click www.galmc.com to obtain a custom quote.  Because we can only post one specific scenario and there are so many adjustments based on loan-to-value ratios, credit scores, loan amounts etc. the rates above may not be accurate for your situation.