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Rate APR Points
Conf 5/1 ARM
2.500% 2.988% 0.000
Conv. 15 Yr Fixed ($320,000 loan, $400,000 value)
3.000% 3.125% 0.000
FHA 30 Yr Fixed ($289,500 loan, $300,000 value)
3.750% 4.789% 0.000
Conv. 30 Yr Fixed ($320,000 loan, $400,000 value)
3.750% 3.831% 0.000
Jumbo/High Balance 30 Yr Fixed ($600,300 limit, Salt Lake & Summit Counties)
4.000% 4.050% 0.000
Jul 31 2015, 09:28AM MT
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Today's Interest Rate News

July 31, 2015; 9:32am

Good morning!

Interest rate trends: Today – Lower; 10 days – Lower; 25 days – Lower

Interest rate recommendation:  Very cautious float

It’s a blind squirrel day for mortgage bonds (MBS’s).  The Chicago PMI came in better than expected, but the Employment Wages report came in unexpectedly low, and not just a little low, it was a shock to the market and is causing MBS’s to rally up +34bps.  This particular employment indicator has become front and center today because it is an influential report for the Fed.  It shows very little wage growth and thus very little reason to expect any inflation.  This will also encourage more Fed members to be at ease on raising interest rates.  We will change to a very cautious float recommendation as the playing cards have changed, at least for the moment.  Have a great day and nice summer weekend.