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Mortgage Rate Predictions

Jan 17, 2017 4:34PM PST

Rate Update 1/17/2017 : Bonds had the "best" day in many regards since late November, specifically November 29th.  There were a couple of reasons for this.  Firstly, Thursday and Friday of last week, heading into the three day weekend, traders were getting out of the market.  Today those same traders returned to the market, and the 10 year yields saw an increase of 7bps.  Another contributing factor for today's improvement was the speech made by Minister Theresa in the UK.  UK Bonds improved prior to the speech in the UK markets, and then post-speech were weaker.  The US found stability in the afternoon and made modest gains throughout the rest of the domestic trading session.  Check back tomorrow for more mortgage news and the latest mortgage rate updates... More

Displaying rates for Mortgage Refinance in VA for $200,000

3.929%

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30 Year Fixed
3.875% Rate $940/mo
  • Updated January 17, 2017
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4.143%

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30 Year Fixed
4.125% Rate $969/mo
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4.441%

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30 Year Fixed
4.375% Rate $998/mo
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4.082%

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3.990% Rate $954/mo
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4.357%

APR
30 Year Fixed
4.125% Rate $969/mo
  • Updated January 17, 2017
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4.082%

APR
30 Year Fixed
3.990% Rate $954/mo
  • Updated January 17, 2017
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James Brooks
By James Brooks With the release of four economic reports due out this week, with one of them considered to be highly important for mortgage rates. The first data of the week is December's Consumer Price Index (CPI) at 8:30 AM Wednesday. This is one of the more important monthly reports for the bond market each month since it measures inflationary pressures at the consumer level of the economy. As with last week's Producer Price Index...
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bcahoone
By rchrisman@robchrisman.com A little boy returned from the grocery store with his mom. While his mom put away the groceries, the little boy opened his box of animal crackers and spread them all over the kitchen table. "What are you doing?" asked his mom. "The box says you shouldn't eat them if the seal is broken," said the little boy. "I'm looking for the seal." In Friday's commentary I included a piece on
James Brooks
By James Brooks The bond market is down 9/32 (2.39%), which should push today's mortgage rates higher by approximately .250 of a discount point. Yesterday’s 30-year Treasury Bond auction did not go badly but was not nearly as strong as Wednesday’s 10-year Note sale. Bonds did up some of their earlier gains during afternoon trading yesterday, causing some lenders to issue slight upward revisions to rates before the end of...
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Mark Hemingway
December wholesale inflation, the Producer Price Index (PPI), rose by 0.3%, which was in line with estimates led higher by more expensive prices for gas, food and cars. Core PPI, which strips out food and energy, was slightly hotter, up 0.2% versus the 0.1% estimated. However, year-over-year PPI grew by 1.6%, the biggest 12-month gain since 2014. The Producer Price Index is a family of indexes that measures the average change over time in the...
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Mortgages for Veterans
There are many benefits to refinancing your home: lower interest rates, pulling cash out, paying the loan off faster. But refinancing with a VA loan adds much to the equation. Even as interest rates continue to rise, it's still a good time for veterans to buy or refinance a home. It's important to note that the VA is not a direct lender, but instead guarantees loans from lenders like us. If you're eligible for a VA loan (
Mark Hemingway
For the first time in nine weeks, mortgage rates declined in the first week of 2017. Freddie Mac reported that the 30-year fixed mortgage rate fell to 4.20% for the week ending January 5, 2017 with 0.5 in points and fees. Freddie Mac said that this is the first time since 2014 that mortgage rates opened the year above 4%. Last year this time, the rate was 3.97%. Private sector job hiring fell in December from November signaling that job growth is...
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bcahoone
By rchrisman@robchrisman.comI wonder what my parents did to fight boredom before the internet.I asked my 17 brothers and sisters and they didn't know either. Any LO looking for opportunity should look no further than this statistic: there were 189,100 multifamily rental units completed between the fourth quarter of 2015 and the third quarter of 2016 across 54 U.S. metropolitan areas. Of those units, 84 percent were "luxury," which seems...
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James Brooks
By James Brooks The bond market is currently down 7/32 (2.48%) we should see an increase of .125 of a discount point. The Institute for Supply Management’s (ISM) manufacturing index for December was today’s only relevant data, but it was an important release. It showed a reading of 54.7 that exceeded forecasts (53.6) and November’s reading (53.2). This means that manufacturer sentiment was stronger than expected and...
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bcahoone
By rchrisman@robchrisman.comA Scotsman and his wife walked past a swanky new restaurant."Did you smell that food?" she asked. "It's smells absolutely incredible!"Being a 'kind-hearted Scotsman', he thought, "What the heck, I'll treat her!"So, they walked past it again. (Yes, a paragraph of pure fluff to start the year.) Does anyone handwrite checks anymore? Always a struggle to remember "2017" instead of "2016." And...
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Leah TenBieg
A loan-to-value ratio, commonly known as an LTV, is something to be aware of when you are looking to apply for a loan program. After all, an LTV can be the one determining factor that decides if you are approved for a mortgage loan. Read below to understand just what LTV is and how yours can be easily calculated. Defining and calculating LTVLTV is how you know just how much mortgage loan value you have in relation to how much your property is...
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Mortgages for Veterans
In a couple of days, it will be 2017. The New Year brings excitement, intrigue and wonder, but it is also a good time to look back and reflect on the past year. As an active duty or veteran servicemember, your New Year's Resolution should be to take advantage of the many VA benefits available to you. Here's a look at the top 5 veteran b
Mortgages for Veterans
While Christmas is a time for joy and celebration, the holiday can be hard for many families. Budgets are stretched thin, memories of loved ones we've lost can haunt us and many of our service members are away from their families. Military families make sacrifices all year-round, but those sacrifices are magnified during the holiday season, especially for those with children. It can be hard for children to find joy in the Christmas season...
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Mark Hemingway
Small businesses across the nation saw an increase in optimism following the presidential election, though profits continue to get squeezed due to sluggish revenue growth and rising operating costs, reports the National Federation of Independent Business (NFIB). The NFIB reported that its Small Business Optimism Index rose 3.7 points to 98.4, which is slightly above the long-term average. Within the report it showed that eight of the index's...
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Leah TenBieg
When you're in the market to refinance, the term "rate lock" will be mentioned quite a bit throughout the process. With rates constantly fluctuating, it's difficult to know when you should lock a rate in. Learn the basics of a rate lock to make your decision easier and see how you can benefit by utilizing one. The basics As stated before, rates are constantly changing. This is the number one reason borrowers find rate locks to be so...
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James Brooks
By James Brooks The bond market is down 6/32 (2.43%), which should push today's mortgage rates higher by slightly less than .125 of a discount point. Today's only relevant economic data was December's preliminary reading to the University of Michigan's Index of Consumer Sentiment just before 10:00 AM ET. It came in at 98.0, well above forecasts of 94.3 and a sizable increase from November's 93.8. This means that surveyed...
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MEL SMITH--LENDER OF THE MONTH
1.Ensure that the personal information for yourself and any co-borrower (if applicable) is easily accessible. This involves Social Security numbers, current addresses and employment specifics. Although there are some exceptions, two years of continuous employment is typically desired. 2.Identify your credit score and pull your own credit history beforehand. If you do this before the lender does it enables you to correct any inaccuracies and pay...
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Mortgages for Veterans
It's an annual tradition: The holiday card. For some people, this is the only time of year they look forward to a trip to the mailbox. But this year, when you're making your Christmas Card list, consider sending a card or two dozen to the thousands of men and women serving in the military who will spend the holidays away from their families. How? We're glad you asked.
bcahoone
By rchrisman@robchrisman.comCongrats to Ben Carson, Trump's nominee for HUD. Before anyone starts celebrating, here's what one person has to say that's worth a skim. Some would say its humorous.Vendors have been honing their offerings, making things more cost efficient given the perceived lower volumes in early 2017. Let's take a random sampling to see what they've been up to.Lendsnap will be doing a live demo of its...
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Mark Hemingway
The service sector of the U.S. economy grew at its fastest pace in 13 months in November, signaling the sector is a big positive for extended growth. The Institute for Supply Management (ISM) reported that its ISM Service Index rose to 57.2 last month, above the 55.6 expected and greater than the 54.8 recorded in October. A reading above 50 indicates the non-manufacturing sector economy is generally expanding; below 50 indicates the...
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James Brooks
By James Brooks The bond market is down 7/32 (2.40%), which should push today's mortgage rates higher by .125 of a discount point. There is nothing set for release today that is likely to affect rates. The rest of the week brings us only three monthly or quarterly economic reports that have the potential to influence mortgage pricing and none of them are considered highly important. Still, we can expect to see the recent volatility and...
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Dan the loanman
The Federal Housing Administration announced plans on Thursday to increase loan limits in 2017, announcing a significant jump in counties set to increase compared to last year. Due to
Leah TenBieg
Your first home will likely be one of the biggest purchases you will ever make. With so much to think about, how can you make this process less stressful and more efficient? Read below to learn some ways you can make your exciting purchase a positive experience. Always think long-term and re-sale With most important decisions, it's normally best to think long-term. Through much deliberation, you should consider all of your needs. Firstly,...
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James Brooks
By James Brooks The bond market is down 27/32 (2.39%), which should increase today's mortgage rates by .250 of a discount point. today's economic data has affected bond trading some, but the bond market was in bad shape even before the first report hit the wires. The sell-off is being attributed to the OPEC agreement to cut oil production, which immediately pushed oil prices higher and means we will likely be paying more at the pump...
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bcahoone
By rchrisman@robchrisman.comOkay, for better or worse, yesterday's puns brought out several e-mails with...even worse puns & definitions.0Modem: What Billy Wayne did to the north and south pastures yesterday.Specimen: Italian astronaut.Bigamist: A heavy fog in Naples.Bigotry: What you find in an Italian forest.Why didn't the melons get married? Because they cantaloupe.What does a clock do when it gets hungry? It goes back four...
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MEL SMITH--LENDER OF THE MONTH
Homeowners within the United States who are having a difficult time making their monthly mortgage payments have an extension to take advantage of a government refinance program. The Federal Housing Finance Agency has extended the Home Affordable Refinance Program, or HARP loan, through September 2017.The FHFA approximates that above 300,000 U.S. homeowners whose mortgages are in trouble -- they owe more than their home is worth -- can still...
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bcahoone
By rchrisman@robchrisman.com FHFA announced that the 2017 conforming loan limit for mortgages acquired by Fannie Mae and Freddie Mac will be increased nationwide from $417,000 to $424,100. The FHFA said its own home-price index (HPI), which it uses to set loan limits, showed values rising 6.1 percent in the third quarter from a year earlier. (Recall that the Housing and Economic Recovery Act of 2008 (HERA) set the baseline loan limit at that...
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Mortgages for Veterans
Today is Thanksgiving, an American holiday older than the U.S. itself, but the following Friday has become a holiday of sort all to its own. Black Friday, as it is known in retail circles, is the biggest shopping day of the year. As shoppers prepare for the holiday season, Black Friday is a popular day to find the best deals on all your Christmas gift needs. And since one of greatest ways to support veterans is to buy veteran-made products, we...
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James Brooks
By James Brooks The bond market is unchanged (2.31%), which will keep today's Mortgage Rates Unchanged. The National Association of Realtors announced at 10:00 AM ET this morning that home resales rose 2.0% in October, exceeding expectations. Analysts were predicting a decline in home sales, not an increase. This means that the housing sector was stronger last month than many had thought, making the data negative for bonds and mortgage...
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Mark Hemingway
The National Association of REALTORS(R) (NAR) reported on Tuesday that Existing Home Sales in October hit a 9.5-year high. Existing Home Sales rose 2% from September to an annual rate of 5.6 million units, above the 5.40 million expected. Year-over-year, sales are up nearly 6%. Lawrence Yun, NAR chief economist, says the wave of sales activity the last two months represents a convincing autumn revival for the housing market. "October's...
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bcahoone
by rchrisman@robchrisman.com A young man named John received a parrot as a gift. The parrot had a bad attitude and an even worse vocabulary. Every word out of the bird's mouth was rude, obnoxious and laced with profanity. John tried and tried to change the bird's attitude by consistently saying only polite words, playing soft music and anything else he could think of to "clean up" the bird's vocabulary. Finally, John was fed
James Brooks
By James Brooks The bond market is unchanged 3/32 (2.21%), which should keep today's mortgage unchanged. October's Producer Price Index (PPI) was posted at 8:30 AM ET this morning, revealing no change in the overall reading and a 0.2% decline in the more important core data that excludes more volatile food and energy prices. Both readings were softer than expectations (+0.3% and +0.2%), meaning inflationary pressures were weaker than...
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Mortgages for Veterans
As we head into the busy holiday season and prepare to hit the malls in search for the perfect Christmas gift for our loved ones, take a minute to think about the veterans who have served this great nation. This holiday season, when you're hunting for the perfect present, remember to Buy Veteran, an initiative of the National Veteran-Owned Business
MEL SMITH--LENDER OF THE MONTH
If you are serving in the military, here are 3 tips that can ensure that you preserve your Good Credit standing. Tip 1: Apply for a lower interest rate The Service Members Civil Relief Act (SCRA) of 2003 prohibits active Service Members from being charged more than 6% interest on debt that was accrued before entering the military. This also applies to members in the reserves, before deployment. This rate affects credit cards and virtually all...
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James Brooks
By James Brooks The bond market is currently down 13/32 (2.10%), which means another increase to mortgage rates. There were widespread rate increases intraday yesterday as stocks moved higher and bonds continued to slide. The net difference between today's rates and yesterday's morning pricing should be approximately .500 of a discount point. Just how much of an increase you will see this morning depends on how many and the size of the...
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Mark Hemingway
In an unprecedented and unexpected reversal, Donald Trump (R) becomes the 45th president of the United States after most polls and various political sites had him losing the election to Hillary Clinton (D). Mr. Trump, who has never held a public office, will now take on the daunting task of steering the U.S. economy into greener pastures. The results of the election sent shock waves throughout the global financial markets. Late Tuesday night, the...
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Mortgages for Veterans
November 11th is Veteran's Day, the one day a year during which we honor those who have served in the U.S. military. The date marks the day major combat during World War I ended in 1918. One year later, President Woodrow Wilson commemorated the day with "Armistice Day," which would later become known as Ve
Mark Hemingway
Fannie Mae reports that U.S. consumers are growing more concerned over the state of the economy. Americans reporting significantly higher income over the past year experienced the largest decline of eight percentage points. Those who expect home prices to go up in the next year declined, while those who expect mortgage rates to drop and those who are confident about not losing their job each dropped by one percentage point in October. In...
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Mark Hemingway
Employment growth in the private sector slowed in October to the slowest pace since May, which could be a result of firms holding off on hiring new workers until after the presidential election is decided. ADP reported that private payrolls rose by 147,000 in October, below the 165,000 expected. However, September was revised higher to 202,000 from the 154,000 originally reported. The report showed that small businesses added 34,000 jobs,...
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James Brooks
By James Brooks The bond market is currently up 4/32 (1.81%), which should improve today's mortgage rates by approximately .125 of a discount point. Today's only relevant economic data came at 8:15 AM ET when October's ADP Employment report was released. It showed that 147,000 new private sector jobs were added to the economy last month, falling short of the 165,000 that was expected. That headline number appears to be good news...
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James Brooks
By James Brooks The bond market is down 8/32 (1.85%), which should push today's mortgage rates higher by approximately .125 of a discount point. The Institute for Supply Management (ISM) gave us their manufacturing index for October at 10:00 AM ET this morning. It showed a reading of 51.9 that was a little higher than the 51.7 that was expected and September's 51.5. This means that more surveyed manufacturing executives felt business...
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Laura Bromhead
What is Fannie Mae? This government-sponsored enterprise is also known as the Federal National Mortgage Association and was designed to expand the secondary mortgage market. Fannie Mae was established by Congress in 1938 during the Great Depression as part of the New Deal. The New Deal is a series of social programs founded in the United States in 1933 by President Roosevelt. The New Deal was enacted in response to the Great Depression to help...
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Mark Hemingway
Home price gains remained solid in September as the U.S. has experienced 56 consecutive months of year-over-year gains. CoreLogic reported that home prices, including distressed sales, rose 6.3% from September 2015 to September 2016 and were up 1.1% from August to September. Looking ahead, CoreLogic forecasts a 5.2% increase from September 2016 to September 2017. A spokesperson for CoreLogic said that due to the recovery in home prices over the...
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MEL SMITH--LENDER OF THE MONTH
Attempting to get past negative items on your credit report can be something of a challenge. The following items can linger on your report. - Bankruptcy The length of time a bankruptcy stays on your credit report depends on which kind you file. The two typical types of bankruptcies are Chapter 7 and Chapter 13.A Chapter 7 bankruptcy, which involves liquidating many of your assets to pay off your debts, will stay on your report for 10 years....
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Mark Hemingway
Consumers across the nation spent on goods and services by the most in three months, signaling to retailers that holiday sales could be healthy in 2016. Personal Spending rose 0.5% in September, which was in line with expectations and reverses the negative reading in August. Within the report it showed that Personal Incomes rose 0.3%, which was just below the 0.4% expected. In addition, inflation remained tame in September as the Fed's...
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bcahoone
By rchrisman@robchrisman.com Flying to Boston for the MBA's conference? Here's
MEL SMITH--LENDER OF THE MONTH
If you are suspicious that you are a fraud victim If something happens that makes you think your personal information has been compromised, you can place an initial fraud alert on your credit report. This alert lasts 90 days, and you can renew it indefinitely. It also enables you to order a free copy of your credit report from each of the three credit bureaus. Ensure your contact number is up to date. Creditors may call to verify your identity...
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James Brooks
By James Brooks The bond market is currently down 1/32 (1.77%), which should keep this morning's mortgage rates unchanged from yesterday's early pricing. September's Consumer Price Index (CPI) was posted at 8:30 AM ET this morning, revealing a 0.3% increase in the overall reading and a 0.1% rise in the more important core data. The overall reading pegged expectations but the core reading was softer than the 0.2% rise that was...
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Michael Zuren
This blog will help you repair and re-establish your credit. The information in this blog will take the guesswork out of improving your credit and pulling your scores up. The following details will help you understand how a credit score is calculated. The Fair Isaac Corporation developed the "FICO" scoring system. This system calculates credit scores by applying algorithms, which includes the following: past credit history, type of credit used,...
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Mortgages for Veterans
There's a new career that seems perfectly suited to military veterans: protecting marijuana farms. As more and more states vote to legalize both medical and recreational marijuana use, the marijuana business continues to grow. But since this industry is still illegal in the eyes of the federal government, many marijuana businesses are often forced to be an all-cash business. This abundance of cash and the value of the product they grow make...
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bcahoone
By rchrisman@robchrisman.com "This is a case about executive power and individual liberty. The U.S. Government's executive power to enforce federal law against private citizens...is essential to societal order and progress, but simultaneously a grave threat to individual liberty. The Framers understood that threat to individual liberty...no independent agency exercising substantial executive authority has ever been headed by a single p
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