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Rate APR Points
Conf 5/1 ARM
3.125% 3.853% 0.000
Conv. 15 Yr Fixed ($320,000 loan, $400,000 value)
3.125% 3.288% 0.000
FHA 30 Yr Fixed ($289,500 loan, $300,000 value)
3.750% 4.701% 0.000
Conv. 30 Yr Fixed ($320,000 loan, $400,000 value)
3.875% 3.999% 0.000
Jumbo/High Balance 30 Yr Fixed ($600,300 limit, Salt Lake & Summit Counties)
4.250% 4.289% 0.000
Updated: Dec 05, 2016 8:43 AM MT
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Today's Interest Rate News

December 5, 2016; 8:37am

Good morning!

Interest rate trends: Today – Higher; 10 days – Slightly higher; 25 days – Higher

Interest rate recommendation: Locking bias

Mortgage Bonds (MBS’s) are retreating this morning, mostly on better than expected economic data as well as fears the ECB this week will mention a tapering of their bond buying economic stimulus plan currently in place.  The ISM report today blitzed expectations on what appears to be every front.  Looking back on the last 4 trading weeks, we have seen 14 days of MBS worsening and 6 days of MBS’s improving.  We are seeing a similar ratio of economic reports beating expectations vs. economic reports missing expectations.  At least in the last month, we surely see an improving economy, which would equate to rising interest rates.  With that said, this morning’s retreat was worse by -33bps, and is presently only worse by -20bps.  This week we will hear from the ECB regarding their position of the direction of the European markets and in 2 weeks we will hear from the Fed on their position of the U.S. economic direction.  With more positive economic news being released than negative, we will maintain a locking bias.  Interest rates are still great, if you are in the market to refinance or purchase a new home or investment property, please give us a call or send us an email.  Have a great day!