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Current Interest Rates *, **
FIXED CONFORMING
PROGRAM RATES APR Pmt Per $1,000
30 YR 3.750%

3.798%

$4.63
15 YR 3.250% 3.331% $7.03
FIXED JUMBO
PROGRAM RATES APR Pmt Per
$1,000
30 YR 4.125% 4.176% $4.85
ARM Click any ARM product for more information.
PROGRAM RATES APR Pmt Per
$1,000
10/1 3.875% 4.274% $4.70
7/1 3.750% 4.347% $4.63
5/1 3.500% 4.376% $4.49
3/1 3.375% 4.516% $4.42
 
 
Current Interest Rates*, **
HOME EQUITY LINE OF CREDIT1
PROGRAM RATES APR Pmt Per
$1,000
20 YR 5.50% 5.50% $6.88
HOME EQUITY LOAN2
PROGRAM RATES APR Pmt Per
$1,000
10 YR 5.24% 5.24% $10.72
15 YR 5.49% 5.49% $8.17
20 YR 5.99% 5.99% $7.16
 
*Up to 80% Total Loan To Value.
Other rates and terms available.
Pmt Per $1,000 does not include taxes
and insurance if applicable.
The actual obligation will be
greater than payment shown.
 
Current Interest Rates *, **
FIXED CONFORMING
PROGRAM RATES APR Pmt Per $1,000
30 YR 3.750%

3.798%

$4.63
15 YR 3.250% 3.331% $7.03
FIXED JUMBO
PROGRAM RATES APR Pmt Per
$1,000
30 YR 4.125% 4.176% $4.85
ARM Click any ARM product for more information.
PROGRAM RATES APR Pmt Per
$1,000
10/1 3.875% 4.274% $4.70
7/1 3.750% 4.347% $4.63
5/1 3.500% 4.376% $4.49
3/1 3.375% 4.516% $4.42
 
 
Current Interest Rates*, **
HOME EQUITY LINE OF CREDIT1
PROGRAM RATES APR Pmt Per
$1,000
20 YR 5.50% 5.50% $6.88
HOME EQUITY LOAN2
PROGRAM RATES APR Pmt Per
$1,000
10 YR 5.24% 5.24% $10.72
15 YR 5.49% 5.49% $8.17
20 YR 5.99% 5.99% $7.16
 
*Up to 80% Total Loan To Value.
Other rates and terms available.
Pmt Per $1,000 does not include taxes
and insurance if applicable.
The actual obligation will be
greater than payment shown.

Market Commentary

Updated on June 14, 2019 10:17:34 AM EDT

Yesterday’s 30-year bond auction drew a decent level of investor interest. We saw bonds improve a little after results were posted at 1:00 PM ET, but not enough to intraday revisions to mortgage rates. Most lenders likely waited for this morning’s data to reflect that move.

The Commerce Department started this morning’s batch of data with the release of May’s Retail Sales report. It showed a 0.5% rise in the headline number when forecasts were calling for a 0.7% increase. That was the good news. Unfortunately, there were also a couple of points that weren’t favorable. Today’s release revealed a 0.5% increase in a secondary reading that excludes more volatile auto-related transactions when analysts were expecting a 0.4% increase. It also showed sizable upward revisions to both of those readings for April. The revisions were enough of a change to likely cause a stronger than previously thought GDP reading for the second quarter. Because stronger economic growth makes bonds less appealing to investors, the stronger economic figures are bad news for mortgage rates.

Mays Industrial Production data was the morning’s second release, coming at 9:15 AM ET. It revealed a 0.4% increase in output at U.S. factories, mines and utilities. Because forecasts were calling for only a 0.2% rise and points towards stronger manufacturing growth, this data is also bad news for bonds and mortgage rates.

The final release of the week was the University of Michigans preliminary Index of Consumer Sentiment for June at 10:00 AM ET. It came in at 97.9, falling short of the 98.1 that was expected and down from May’s final of 100.0. The variance from forecasts isn’t much but the decline from last month’s reading is good news for mortgage rates as it indicates that consumers were not as optimistic about their own financial situations and likely will avoid making large purchases in the near future. As we saw with this morning’s sales report, because consumer spending makes up almost 70% of the U.S. economy, related data is very relevant to the markets.

Next week has only a few relevant economic reports scheduled for release but does have another FOMC meeting taking place. This meeting will also include revised economic projections along with the now-standard press conference with Chairman Powell. The reports that are scheduled are mostly housing sector reports that are not considered to be major. Monday has nothing set that is expected to affect rates. Look for details on all of next week’s activities in Sunday evening’s weekly preview.

 ©Mortgage Commentary 2019

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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 June 14, 2019 and are subject to change at any time. Conforming loan sizes up to $484,350.00 on one unit properties. Conforming rates and APR based on $484,350.00 loan amount with FICO credit scores of 780 and loan to value no greater than 75%. Jumbo rates and APR based on a $484,351.00 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. Home Equity Lines of Credit are only available on Primary Residence and Second Homes. Home Equity Lines of Credit are only available in the states of Massachusetts and New Hampshire.

APR = Annual Percentage Rate. Other rates and terms up to 20 years available. 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. Home Equity Loans are only available in the states of Massachusetts and New Hampshire. Rates as of January 09, 2019 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 June 14, 2019 and are subject to change at any time. Conforming loan sizes up to $484,350.00 on one unit properties. Conforming rates and APR based on $484,350.00 loan amount with FICO credit scores of 780 and loan to value no greater than 75%. Jumbo rates and APR based on a $484,351.00 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. Home Equity Lines of Credit are only available on Primary Residence and Second Homes. Home Equity Lines of Credit are only available in the states of Massachusetts and New Hampshire.

APR = Annual Percentage Rate. Other rates and terms up to 20 years available. 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. Home Equity Loans are only available in the states of Massachusetts and New Hampshire. Rates as of January 09, 2019 and are subject to change without notice. $5.00 Membership Account Required.