This morning, October Import Prices declined 0.5% from September, below the consensus for a decline of just 0.1%.
In a volatile mortgage market, current mortgage rates can change multiple times during the day.
As a mortgage rate shopper, it's important to know when today's rates are changing. This is because, when mortgage rates change, mortgage lenders will not honor rate quotes which have not been previously "locked".
To lock today's mortgage rates, then, be sure to commit with your lender before current rates begin to move. Whether you're trying to lock a purchase or a refinance loan, the market waits for no one.
Today's mortgage rate analysis is based on live mortgage-backed securities (MBS) pricing provided by MBSQuoteline, a real-time mortgage market data service available to loan officers, real estate agents, and other finance professionals.
The MBS data supplied by MBSQuoteline is the same market data used to formulate current mortgage rates by the nation's mortgage lenders.
The chart at top depicts today's Fannie Mae mortgage bond pricing. Fannie Mae bonds are linked to conventional mortgage rates which include mortgage rates for programs such as the Home Affordable Refinance Program (HARP 2.0), the 3-percent down Conventional 97 loan, the HomePath mortgage program, and others.
MBS prices are inversely related to today's mortgage rates. When bond prices rise, mortgage rates sink. In general, a twenty-five basis point change in MBS pricing -- up or down -- leads to a 0.125 percentage point change in mortgage rates.
Note that the chart above does not depict the path of today's Ginnie Mae mortgage bonds, although Ginnie Mae bonds and Fannie Mae bonds tend to move in similar directions.
Ginnie Mae bonds correlate to today's mortgage rates for FHA loans, such as the FHA Streamline Refinance, which are insured by the Federal Housing Administration; VA loansguaranteed by the Department of Veterans Affairs; and USDA loans guaranteed by the U.S. Department of Agriculture.
WHAT ARE MORTGAGE RATES *RIGHT NOW*?
Mortgage rates change all day, every day. The mortgage rates you get from your bank "now" won't be the same rates you get from your bank in an hour. Be smart when you shop. Compare multiple lenders and get your best deal.
Author:John and Ashley Lazosky Phone: 702-281-1198 Dated: November 10th 2015 Views: 194 About John and Ashley: We are the Broker/Owners of Vegas Homes and Fine Estates. We are proud to say we have a combined 22...
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Vegas Homes and Fine Estates has over 15 years combined experience in the Real Estate industry AND have represented 100’s of buyers and sellers helping them realize their real estate dreams. As Broker/Owner of Vegas Homes and Fine Estates, I have consistently ranked in the top 1% of agents in the Las Vegas Valley. Combined with my husband and partner JOHN, we are an UN-Stoppable FORCE in the Vegas Real Estate MARKET!!! With complete knowledge of the Las Vegas marketplace and personalized client services… you can expect your home buying needs will be serviced properly and protected.
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"I can't say enough about John and Ashleys combined knowledge, experience and integrity. When they sold us our house they were able to respond quickly and show me the property. They guided us through the short sale process and were able to negotiate an $18K dollars off the banks asking price. IF you want an agent that works Real Estate as a professional and not just a hobby, then I think you should call John and Ashley. You'll be happy that you did. "