Mortgage Rates Today: BoA, PHH Mortgage Apr 20, 2017

21 April, 2017, 03:45 | Author: Glen Fletcher
  • Mortgage Applications drop 1.8%

Mortgage Brain chief executive Mark Lofthouse says: "Our latest product data analysis shows that there's little to get excited about in terms of rate and cost movement over the past three months".

10 year loans can be had for 3.125% and April of 3.331% today. (Points are fees paid to a lender equal to 1 percent of the loan amount.) It was 4.08 percent a week ago and 3.59 percent a year ago. The MBA also seeks the introduction of multiple guarantors that will operate as privately-owned utilities and a new federally-backed Mortgage Insurance Fund for the mortgage-backed securities.

The sourcing system says the cost of the lowest rate five year fixed mortgage -2.55 per cent at 90 per cent LTV - fell by just 1 per cent since January 2017.

5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.10 percent this week with an average 0.4 point, down from last week when it averaged 3.18 percent.

After touching the highest level since June last week, mortgage applications to buy a home fell 3.4% w/o/w and are now down 1.1% y/o/y as we are deep into the important spring time period where about half of all the years transactions take place. The best 20 year loans are published at 3.680% and April of 3.820%.

"Weak economic data and growing worldwide tensions are driving investors out of riskier sectors and into Treasury securities", said Freddie Mac chief economist Sean Becketti.

Because of uncertainty surrounding the French elections and tensions in North Korea, investors are scooping up bonds.

For existing homeowners exploring a home equity line of credit (HELOC) or equity loan, there's no change in either rates today.

Even as mortgage applications to buy a home have dipped, they have remained up compared to a year ago in recent weeks.

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