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Mortgage Interest rates move higher

Interest rates for buying a home on the Palos Verdes Peninsula moved higher this week . The following are excerpts from the newsletter on interest rates published by HSH Associates :

With equity market remaining on a tear, good economic news coming along almost every day and inflation pretty close to the Federal Reserve's target, mortgage and other interest rates continue to have no place to go but up. To be sure, they have firmed up only modestly, but a cumulative 20-basis point increase and the potential for more certainly isn't the news that mortgage shoppers were waiting to hear to start 2018.

Mortgage and other interest rates moved higher this week but seem to have landed on an unsteady perch. There doesn't seem to be a whole lot of news or information to help them fall much; to the contrary, all news is being treated by markets as good news at the moment, and central banks are even starting to take this to heart and adjusting their QE and rate setting positions accordingly.

 

 

 

 With underlying and influential interest rates failing to back down much this week, and flaring a bit higher again on Friday, next week will start with at least some additional upward pressure on mortgage rates. We thought this week would have a smaller upward tick, but it was a little more than we foresaw; as such, we'll hope for stability but hedge to the upside and call it a 4-5 basis point rise in the conforming 30-year FRM reported by Freddie Mac come next Thursday morning.

The following are interest rate quotes from John Alvin of American California Financial:

 

 

30 Yr Fixed FHA
Rate APR  
3.625 4.760 Details
 

 

Conforming 30 Yr Fixed up to $424,100
Rate APR  
4.125 4.246 Details
 

 

Conforming Jumbo 30 Yr Fixed $424,101 - $636,150
Rate APR  
4.375 4.486 Details
 

 

Jumbo 30 Yr. to $1.5 Mil
Rate APR  
4.125 4.219 Details
 

 

Jumbo 7/1 ARM $1.5 Mil (higher loan amt available)
Rate APR  
3.875 3.806 Details
 

 

 

 

 

 

 

 

 

 

For more information about Palos Verdes and South Bay Real Estate and buying and selling a home on the Palos Verdes Peninsula, visit my website at http://www.maureenmegowan.com . I try to make this the best real estate web blog in the South Bay Los Angeles and the Palos Verdes Peninsula. I would love to hear your comments or suggestions.

Comment balloon 0 commentsMaureen Megowan • January 29 2018 09:33PM

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