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Mortgage Rate Predictions

Nov 18, 2016 3:19PM PST

Rate Update 11/18/2016 : The theme for the day is INFLATION. More than any other concern (market data, ECB policy, and potential Fed hikes) is the idea that inflation is in the near future.  Every time the Trump administration talks about proposed policy, the end result always leads to fears of inflation.  The recent ew days in the green appear to be a consolidation trend, not a true reversal in mortgage rates.  Heading into a holiday week is not helping matters. Many traders are covering thier short term risks by selling off early.  The Feds have hinted at the idea at hiking, although the rates have already been hit hard this month.  Check back next week to get more updates on the bond market and rates. Bookmark this page for mortgage rates:• 30 year (FRM) rates at 4.12% (+0.09%)... More

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

3.952%

APR
30 Year Fixed
3.875% Rate $940/mo
  • Updated December 10, 2016
  • Certified Upfront Lender! Online Good Faith Est! Apply & Lock Rate 24/7!

4.159%

APR
30 Year Fixed
4.125% Rate $969/mo
  • Updated December 10, 2016
  • Learn how we transformed home lending into an enjoyable experience.

4.125%

APR
30 Year Fixed
4.125% Rate $969/mo
  • Updated December 10, 2016
  • Save when you borrow from PenFed!

4.534%

APR
30 Year Fixed
4.500% Rate $1,013/mo
  • Updated December 10, 2016
  • A+ Rating with the Better Business Bureau

4.870%

APR
30 Year Fixed
4.750% Rate $835/mo
  • Updated December 10, 2016
  • Fast, Powerful and Completely Online
  • Get an approval to buy a home or refinance your mortgage in minutes.
  • Save time & avoid paperwork by sharing your financial info instantly.

4.870%

APR
30 Year Fixed
4.750% Rate $835/mo
  • Updated December 10, 2016
  • We close our loans FAST - many in 30 days or less!
  • Rates are still incredibly low! Lock in a low rate and payment today.
  • Why pay more for your home than you have to? Check out rates now.
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
Laura Bromhead
Every year there are many important meetings that the Federal Reserve holds. They discuss the economy and what new policies may arise from economic changes. A daunting question is how does Economic Symposium, and how does it affect the mortgage market? This meeting is one example of the many meetings that are held yearly that potentially affect What is the Kansas City Federal Economic Policy Symposium? The Federal Reserve Bank of Kansas City...
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Winstonrowe
Winston Rowe & Associates, No Upfront Fee Commercial Mortgages Business owners with a conventional commercial property mortgage can finally take advantage of the low fixed rates on government guaranteed loans through the Small Business Administration (SBA) 504 Refinancing Program The SBA 504 Program can refinance up to 90% loan-to-value; 75% on cas
Mortgages for Veterans
There's a viral movement afoot on social media with the goal of bringing awareness to veteran suicides. It's called the #22PushupChallenge and even celebrities are getting in on the effort. The challenge, which beg
MEL SMITH--LENDER OF THE MONTH
You pride yourself on your credit score, but was denied a mortgage. Here's why you might not have been approved. 1. Your income is too low for the amount you want to borrow.If you're securing a mortgage, you have observed that your prospective lender is assembling financial information about you. One data point it's specifically concerned with is your income. Your housing expense ratio must be balanced to ensure that your monthly...
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Mortgages for Veterans
The Crossfit craze has swept the nation and the world over the past 10 years. And weightlifting, which was once reserved for professional athletes and the muscles heads on Venice Beach, is now popular across all ages and demographics,
Bart Castelli
Mortgage rates are moving sideways today. The mortgage market improved a little yesterday, but not as much as that it would have any significant movement on the rate and/or the cost of fees associated with the rates quoted. This morning we had the Durable Goods Orders come in which has seen some wild swings over the past year. Today's release showed that the headline August data was flat at 0.0%, but that was better than anticipated. Weekly...
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Bart Castelli
Mortgage rates made more substantial gains today, after financial markets had more time to react to yesterday's announcement from the Federal Reserve. Although the Fed held its policy rate steady, the bigger story was a sharp downgrade in the longer term rate outlook. In short, the Fed sees interest rates remaining "lower for longer." They increasingly confirm this stance with their updated forecasts. The vibes in markets over the Fed's...
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James Brooks
By James Brooks The bond market is up 8/32 (1.63%), which should improve today's mortgage rates by .125 of a discount point. The first of today's three pieces of economic data was last week's unemployment figures. They showed that 252,000 new claims for unemployment benefits were filed last week, down from the previous week's 260,000 initial filings. Analysts were expecting to see a small increase, not a decline. The lower...
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Bart Castelli
Mortgage rates were unchanged again today. If you slept through the week and woke up this afternoon you would believe it was a quiet week. MBS prices and rates unchanged, and the 10yr yield hardly changed. This week was volatile, last week also volatile both the first since mid-July. It started a week ago yesterday with the ECB saying it was satisfied with its QE, according to Draghi the EU is improving and the stimuli is working. Then both...
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MEL SMITH--LENDER OF THE MONTH
Hybrid ARMs: This type of ARM (adjustable rate mortgage) comes with an initial fixed-rate period with the interest rate changing annually afterwards. The fixed-interest stage can be anywhere from three to ten years. The interest rate tends to drop on the shorter periods. For example, a 3/1 Hybrid ARM would have a fixed-rate for the first three years, then adjust annually. Interest-only ARMs: Interest-only ARMs signifies that you will pay only the...
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Mortgages for Veterans
Buying from Veteran-owned businesses is one of the best ways to say, "thank you" to the men and women who have served our country. That's why we take the time to highlight veteran-owned businesses on this blog from time to time. Today, we're looking at Ignore No More, a mobile app
Bart Castelli
Mortgage Rates continued sharply higher today, as financial markets quickly adjust their outlook for global monetary policy. Two and a half months and no changes in stocks and bonds. Today that ended when the 10yr broke out of its range and stock indexes followed. I have been letting everyone know here over the last few weeks that when the trading range on the 10yr was violated the move would be swift and deep. The 10yr yield increased 6BPS...
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MEL SMITH--LENDER OF THE MONTH
Myth 1: Carrying a credit balance can make good credit scores even better Fact: Actually, credit scores are a consideration of the manner in which you handle your credit rather than the amount you carry. Merely having an ever-present balance will not do anything to aid your score. However, responsibly paying off your debt will. Myth 2: If you handle your finances dependably, you'll always preserve your good credit Fact: Attaining and keeping a...
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Mortgages for Veterans
It's Back to School time and while you're readying your kids for that all-so-important first day of school, now's a good time to consider going back to school yourself. Especially with all the benefits available to military veterans, setting your sights on higher education has never been easier. Here are 5
Laura Bromhead
The federal Reserve decides interest rates in the U.S. Meetings occur eight times a year, where they discuss the economy and set short-term interest rate targets. The Fed takes inflation into consideration whilst discussing rates. Mortgages are denominated in U.S. dollars, so long term values of owning a mortgage can be linked to long-term values of the dollar. When the U.S dollar gains value compared to other currencies, the relative value of...
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Bart Castelli
Today was the day everyone was waiting for - and it came in like a THUD. Mortgage rates are moving sideways once again today. Here are the key points that the news outlets are reporting on a continuous loop: Unemployment Rate 4.9%. This is unchanged from July. The market was expecting 4.8%. August Non-Farm Payrolls 151K, the market was expecting 180K. Average Hourly Wages increased by 0.1%, the market was expecting 0.2%. The Participation Rate...
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Bart Castelli
Mortgage rates have had a wild a crazy two days as rates went up past the ceiling early on Friday after the comments from the Fed's at the Jackson Hole symposium. Markets interpreted those comments as the Fed being more likely to hike rates in 2016 - possibly even twice! While mortgage rates are based on MBSs, as opposed to the Fed Funds Rate (the thing the Fed is talking about hiking), if investors think the Fed is more likely to hike, MBS...
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