Welcome to the Total Mortgage Current Mortgage Rates Blog. There’s some economic data out today, but first, your daily mortgage rate forecast/advice.
Where are mortgage rates going?
Mortgage rates are flat today
All the major stock market indices are up this morning as investors wait for President Donald Trump to unveil details about his tax plan. Secretary Treasury Steven Mnuchin already came out this morning to speak with CNBC and said that Trump is aiming for the “biggest tax cut” and “largest tax reform in US history.” Claims don’t get much bolder than that.
Click here to get today’s latest mortgage rates (Apr. 26, 2017).
As part of this sweeping reform, Mnuchin confirmed a desire to move the corporate tax from 35% to 15%. He also said there will be a repatriation tax on foreign earnings and , interestingly, there will be no border adjustment tax.
So far the news hasn’t had any meaningful impact on mortgage rates. At this point, financial market participants are leery of any promises made by President Trump. The 10-year Treasury yield (the best market indicator of where mortgage rates are headed) is unchanged from where it started the day. Generally, mortgage rates move in tandem with the 10-year yield, so all signs point toward sideways movement today.
Mortgage rates are still near 2017 lows. See how low your rate could be.
The expectation for this week was for rates to not move too far in any direction. So far we’re on track for that to happen. The Freddie Mac Primary Mortgage Market Survey comes out tomorrow morning at 10am, and it will be interesting to see how rates have changed from last week’s record lows for 2017. The 10-year yield has come up several basis points since last week, making it likely for the average rate on a 30-year fixed to pop back over 4.0%.
What does this mean for me?
Current mortgage rate environment still favorable for borrowers
Mortgage rates aren’t going anywhere today, which is good news for borrowers. Rates are still not far off of 2017 lows, so right now is a great time to anyone looking to lock in a rate on a purchase or refinance to take action.
It only takes a few minutes to fill out some information and get a personalized rate quote on our website, or to make a quick phone call to one of our experienced mortgage specialists to get started.
Today’s economic data:
EIA Petroleum Status Report
- Crude oil: -1.0 M barrels
- Gasoline: 1.5 M barrels
- Distillates: -2.0 M barrels
Notable events this week:
Monday:
- Fedspeak
- Dallas Fed Mfg Survey
Tuesday:
- FHFA House Price Index
- S&P Corelogic Case-Shiller HPI
- New Home Sales
- Consumer Confidence
- Richmond Fed Mfg Survey
Wednesday:
- EIA Petroleum Status Report
Thursday:
- Durable Goods Orders
- International Trade in Goods
- Jobless Claims
- Pending Home Sales
- EIA Natural Gas Report
- Kansas City Fed Mfg Index
Friday:
- GDP
- Employment Cost Index
- Chicago PMI
- Consumer Sentiment
- Fedspeak
from Total Mortgage Underwritings Blog http://ift.tt/2pztc6q
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