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Mortgage Rates Up – 9/12/2013 Update

Written by Clay S. on . Posted in Rate Updates

Rates are up across the board with speculation about when the Fed will begin to taper off their support of the treasury and mortgage backed securities market.  Each blip in any reported economic data sets off a frenzy one way or another in that speculation.  That makes it very difficult to project any long term trend other than rates will continue to drift higher – because eventually the FED will taper off. Good news with the market overall supporting jumbo loan programs, and rates are not all that different than the conventional lending ($417k – $625k) so that is a healthy trend looking forward. Overall rates up 1.0% – 1.25% from the historical lows.   The chart below reflects the pricing of mortgage backed bonds over the last three months … lower bond pricing = higher yield thus higher rates. Rate20130912 Generally 30 year fixed conforming loan to $417,000 will be 4.625% (rate and APR) today with no origination or other charges.  Up to $625,500 will be 4.750% (rate and APR) …  We can talk about your situation and be more specific, give me a call. clay signature black  

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