twitter linkedin
facebook google+
Search:

Mortgage News

News by Subject
Complete list of specialty news sections.

Purchase Subscription
Subscribe to MortgageDaily.com and get immediate access to all news, statistics and archives.

Mortgage Advertising
Reach mortgage executives, loan originators and other people tied to mortgage industry.

Consumer Mortgage News
Free mortgage news for prospective borrowers.

Mortgage Newsletter
Free e-mail newsletter with the latest headlines from MortgageDaily.com.

Mortgage News Reprints
Put entire MortgageDaily.com stories in your online or printed newsletter or publication.

Mortgage Feedget RSS code
Condensed MortgageDaily.com stories free on your Web site or for your RSS reader.

News Archives
Archive of MortgageDaily.com stories by month going back to 1999.

Press Releases
Reports and announcements from MortgageDaily.com.

Mortgage Statistics
Data and statistics for real estate finance.

Mortgage Directories
Directories of lenders, branch operators and mortgage service providers.

Mortgage Graphs
Directories of lenders, branch operators and mortgage service providers.

home subscribe advertise reprints e-mail help RSS about us LOG IN

Mortgage News

 

Mortgage News

HOT Topics

production

servicing

compliance

legal

fraud

secondary

jobs

appraisal

site map

www.loan-academy.com/
Mortgage Rate News | Mortgage Market Index | ARM indices | ARM Statistics
Average fixed and ARM rates. Rate forecasts. Quotes on ARM indexes including COFI, MTA, LIBOR & Treasuries. Rate reset studies and reports. Mortgage rate litigation.


Mortgage Rates Jump to Nearly 4-Year High

Rates likely to rise further

Feb. 15, 2018

By SAM GARCIA Mortgage Daily



portrait of Sam Garcia

Interest rates on residential loans continued to rise, this time to the highest level in nearly four years. The outlook is for continued escalation over the next week.

Freddie Mac's Primary Mortgage Market Survey for the seven days that finished on Feb. 15 had thirty-year fixed rates averaging 4.38 percent.

That was the highest fixed interest rate for 30-year mortgages since the week ended April 3, 2014, when long-term mortgage rates averaged 4.41 percent.

The 30 year moved up 6 basis points from the preceding week. Compared to the same seven-day period in 2016, the average has risen 23 BPS.

"Wednesday's Consumer Price Index report showed higher-than-expected inflation; headline consumer price inflation was 2.1 percent year-over-year in January two tenths of a percentage point higher than the consensus forecast," Freddie Mac Deputy Chief Economsit Len Kiefer said in the report. "Inflation measures were broad-based, cementing expectations that the Federal Reserve will go forward with monetary tightening later this year.

Kiefer noted that the 10-year Treasury yield reached the highest level since January 2014, climbing above 2.90 percent.

An analysis of Treasury market data by Mortgage Daily indicates that fixed mortgage rates might be around 3 BPS higher in Freddie's next survey.

A majority of panelists surveyed by Bankrate.com for the week Feb. 14 to Feb. 20 agreed with Mortgage Daily's forecast and predicted mortgage rates will rise at least 3 BPS over the next week. No change was expected by 31 percent, and just 13 percent projected a decline.

Interest rates on jumbo mortgages were 21 BPS more than conforming rates in the U.S. Mortgage Market Index from Mortgage Daily and OpenClose for the week ended Feb. 9. The spread was 22 BPS one week prior.

At 3.84 percent, Freddie's survey had 15-year fixed rates 7 BPS higher than in the week ended Feb. 8. Thirty-year rates were 54 BPS higher than 15-year rates, a little less than the 55-basis-point spread in the last report.

A six-basis-point rise from a week ago left five-year, Treasury-indexed, hybrid adjustable-rate mortgages at 3.63 percent in Freddie's report.

The yield on the one-year Treasury note, which serves as the index for hybrid ARMs, was reported by the Department of the Treasury at 1.99 percent Thursday, soaring 8 BPS from seven days earlier.

As of Wednesday, another ARM index, the six-month London Interbank Offered Rate was 2.06 percent, Bankrate.com reported. LIBOR was 1.99 percent the previous Wednesday.


Sam Garcia founded Mortgage Daily in 1998 and became its full-time publisher in 2000. Before that, he worked in mortgage lending for two decades.

e-mail:
[email protected]


Mortgage Market Index
A barometer of upcoming originations, the Mortgage Market Index includes data on jumbo, FHA and refinance activity.
www.openclose.com

Logout forgot
password?

SUBSCRIBERS: Edit Subscription | Subscription Help | or call 214.521.1300

Subscribe Contact Us Site Map

Copyright © 2017 Mortgage Daily, D a l l a s
Subsribers Only:

AMC directory

ARM indexes

mortgage company directory

mortgage regulations

net branch directory

p r i c i n g engine directory

wholesale lender directory

More Mortgage News Resources (full site map):

advertising news

appraisal news

bank news

biggest lenders

commercial mortgage news

corporate mortgage news

credit news

FHA news

financial regulation news

foreclosure news

GSE news

jumbo mortgage news

interest rates

loan modification news

loan originator survey

LOS Newsletter

MBS

mortgage associations

mortgage-backed securities

mortgage books

mortgage brokers

mortgage compliance

mortgage conferences

mortgage directories

mortgage education

mortgage employment

mortgage employment index

mortgage executives

mortgage fraud

mortgage fraud blog

mortgage fraud local news

Mortgage Fraud Index

Mortgage Graveyard

mortgage insurance news

mortgage lawsuits

mortgage leads

mortgage lender ranking

mortgage licenses

mortgage litigation

Mortgage Litigation Index

Mortgage Market Index

mortgage mergers

mortgage news

mortgage politics

mortgage press releases

mortgage production

mortgage public relations

mortgage rates

mortgage servicing

mortgage statistics

mortgage technology

mortgage video

mortgage Webinars

net branch

net branch directory

nonprime news

origination news

originator tools

real estate news

refinance news

reverse mortgage news

secondary marketing

social media

servicing news

subprime news

wholesale lenders