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Current Interest Rates *, **
FIXED CONFORMING
PROGRAM RATES APR Pmt Per $1,000
30 YR 4.875%

4.909%

$5.29
15 YR 4.375% 4.434% $7.59
FIXED JUMBO
PROGRAM RATES APR Pmt Per
$1,000
30 YR 5.250% 5.275% $5.52
ARM Click any ARM product for more information.
PROGRAM RATES APR Pmt Per
$1,000
10/1 5.000% 5.183% $5.37
7/1 4.124% 4.820% $4.85
5/1 3.625% 4.786% $4.56
3/1 3.500% 4.990% $4.49
 
 
Current Interest Rates*, **
HOME EQUITY LINE OF CREDIT1
PROGRAM RATES APR Pmt Per
$1,000
20 YR 5.25% 5.25% $6.74
HOME EQUITY LOAN2
PROGRAM RATES APR Pmt Per
$1,000
10 YR 4.99% 4.99% $10.60
15 YR 5.24% 5.24% $8.03
20 YR 5.74% 5.74% $7.02
 
*Up to 80% loan to value.
Other rates and terms available
 
Current Interest Rates *, **
FIXED CONFORMING
PROGRAM RATES APR Pmt Per $1,000
30 YR 4.875%

4.909%

$5.29
15 YR 4.375% 4.434% $7.59
FIXED JUMBO
PROGRAM RATES APR Pmt Per
$1,000
30 YR 5.250% 5.275% $5.52
ARM Click any ARM product for more information.
PROGRAM RATES APR Pmt Per
$1,000
10/1 5.000% 5.183% $5.37
7/1 4.124% 4.820% $4.85
5/1 3.625% 4.786% $4.56
3/1 3.500% 4.990% $4.49
 
 
Current Interest Rates*, **
HOME EQUITY LINE OF CREDIT1
PROGRAM RATES APR Pmt Per
$1,000
20 YR 5.25% 5.25% $6.74
HOME EQUITY LOAN2
PROGRAM RATES APR Pmt Per
$1,000
10 YR 4.99% 4.99% $10.60
15 YR 5.24% 5.24% $8.03
20 YR 5.74% 5.74% $7.02
 
*Up to 80% loan to value.
Other rates and terms available

Market Commentary

Updated on October 18, 2018 10:33:21 AM EDT

Yesterday’s release of the FOMC minutes didn’t reveal many surprises. This was expected because the last meeting was followed by updated economic projections and a press conference with Chairman Powell. One note worth mentioning is that its contents indicate a fourth rate hike this year, expected at December’s meeting, is all but guaranteed. The vote to raise rates the quarter point at that meeting was unanimous. The rest of the minutes were uneventful for the most part.

Last week’s unemployment figures were posted at 8:30 AM ET today, revealing 210,000 new claims for unemployment benefits were filed last week. This was a decline from the previous week’s revised 215,000 initial filings and weaker than the 212,000 that was expected. However, this is a very small variance in a weekly report, so it has had no impact on today’s mortgage rates.

Septembers Leading Economic Indicators (LEI) was the second report of the day. The Conference Board announced an increase of 0.5%, matching expectations. This index attempts to predict economic growth over the next several months. Therefore, weaker readings are considered good news for bonds and mortgage rates. But since it pegged forecasts, we have no seen much of a reaction to the news.

Tomorrow brings us one economic release worth watching. That would be Septembers Existing Home Sales data at 10:00 AM ET. This report will give us an indication of housing sector strength and mortgage credit demand by tracking home resales. It is expected to show a small decline in sales from August to September, meaning the housing sector was flat. That would be relatively good news for the bond market since a strengthening housing sector makes broader economic growth more likely and bonds less appealing to investors. Ideally, it would show a sizable decline in sales that points toward a weakening housing sector.

 ©Mortgage Commentary 2018

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NMLS#: 406108 | Federally insured by NCUA up to $250,000. | Shares and Deposits in excess of NCUA limits are fully insured by MSIC. | ehl Equal Housing Opportunity

Copyright © 2017 Jeanne D’Arc Credit Union.  All rights reserved. Jeanne D’Arc©, MoneyStrong© and the phrase. We Share a Common Thread©, are federally register trademarks owned by Jeanne D’Arc Credit Union, and may not be used, displayed or reproduced by any other party without the express written permission of Jeanne D’Arc Credit Union.

** Rates are effective October 18, 2018 are subject to change at any time. Conforming loan sizes up to $453,100 on one unit properties. Conforming rates and APR based on $453,100 loan amount with FICO credit scores of 780 and loan to value no greater than 75%. Jumbo rates and APR based on a $630,000 loan amount with FICO credit scores of 780 and loan to value no greater than 75%. For adjustable rate mortgages, rate may increase after consummation.

1 APR = Annual Percentage Rate. For all Home Equity Line of Credit terms see Important Terms of our HELOC link above. $5.00 Membership Account Required. Up to 80% loan to value. Other rates and terms available.

APR = Annual Percentage Rate. 3.99% APR rate for a 10-year term and an 80% loan to value on your Primary Residence. Other rates and terms up to 20 years available and/or borrow up to 95% loan to value. The 3.99% APR is repayable in 120 monthly payments of $10.12 per $1000 borrowed. Borrow up to 95% (75% for Second Homes) of your home's current value less any secure debt secured by your home with a minimum of $10,000 and a maximum of $250,000. Home Equity Loans are only available on Primary Residence and Second Homes. Rates as of October 17th, 2018 and are subject to change without notice. $5.00 Membership Account Required.

 

NMLS#: 406108 | Federally insured by NCUA up to $250,000. | Shares and Deposits in excess of NCUA limits are fully insured by MSIC. | ehl Equal Housing Opportunity

Copyright © 2017 Jeanne D’Arc Credit Union.  All rights reserved. Jeanne D’Arc©, MoneyStrong© and the phrase. We Share a Common Thread©, are federally register trademarks owned by Jeanne D’Arc Credit Union, and may not be used, displayed or reproduced by any other party without the express written permission of Jeanne D’Arc Credit Union.

** Rates are effective October 18, 2018 are subject to change at any time. Conforming loan sizes up to $453,100 on one unit properties. Conforming rates and APR based on $453,100 loan amount with FICO credit scores of 780 and loan to value no greater than 75%. Jumbo rates and APR based on a $630,000 loan amount with FICO credit scores of 780 and loan to value no greater than 75%. For adjustable rate mortgages, rate may increase after consummation.

1 APR = Annual Percentage Rate. For all Home Equity Line of Credit terms see Important Terms of our HELOC link above. $5.00 Membership Account Required. Up to 80% loan to value. Other rates and terms available.

APR = Annual Percentage Rate. 3.99% APR rate for a 10-year term and an 80% loan to value on your Primary Residence. Other rates and terms up to 20 years available and/or borrow up to 95% loan to value. The 3.99% APR is repayable in 120 monthly payments of $10.12 per $1000 borrowed. Borrow up to 95% (75% for Second Homes) of your home's current value less any secure debt secured by your home with a minimum of $10,000 and a maximum of $250,000. Home Equity Loans are only available on Primary Residence and Second Homes. Rates as of October 17th, 2018 and are subject to change without notice. $5.00 Membership Account Required.