"McKay was wonderful to work with and was good at responding quickly to my questions. Best interest rate around with the lowest fees. Highly recommended."
M Nielsen

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"I found Great American Lending (Spencer in particular) extremely easy to work with. He gave us his best right off and responded to questions within minutes. Would definitely recommend using this company."
Sammy F.

Today's Interest Rate News

May 26, 2017:  8:16am

Good morning!

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

Interest rate recommendation: Locking bias

Mortgage Backed Securities (MBS’s) are flat again this morning and rates came out mostly flat or unchanged as well.  The economic reports were mixed, but mostly under-performing market expectations.   We continue our locking bias, although we don’t see much risk in rates increasing today.  Markets are closed on Monday with Memorial Day observance, but the rest of the week is full of economic data releases and capped off on Friday with May’s NFP Jobs report.  Have a great day and nice holiday long weekend. 

30 Year fixed

Cost/-Credit

APR

Change from yesterday

3.750%

0.500%

3.804%

No change

3.875%

-0.250%

3.876%

No change

4.000%

-0.875%

3.956%

No change

15 Year fixed

 

 

 

3.125%

0.125%

3.172%

No change

3.250%

-0.750%

3.190%

No change

3.375%

-1.250%

3.254%

No change

7/1 ARM

 

 

 

3.250%

0.625%

3.311%

Lender credit improved by .125%

3.375%

0.250%

3.410%

Lender credit improved by .125%

3.500%

-0.125%

3.509%

Lender credit improved by .125%

30 Year FHA

 

 

 

3.750%

-0.750%

4.715%

No change

 

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.