Mortgage Rates – Jan 30, 2018

CONVENTIONAL
30 Yr 4.375 to 4.5 APR 4.65
15 Yr 4.125 to 4.375 APR 4.41

ARMS
5 Yr 4 to 4.25 APR 4.37
7 Yr 3.875 to 4 APR 4.124

FHA/VA
30 Yr 3.75 APR 3.82
15 Yr 3.5 APR 3.61

2018 Loan limits have INCREASED
$453,100 Conventional and VA vs $417,000
$294,515 FHA vs $279,450

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Housing Market Starts Strong for 2018

Here are some good indicators showing US housing market carries great momentum from 2017 to 2018:

  • Home equity has hit a new record high, reported to be $5.5 trillion. Remodeling spending topped $152 billion in 2017 and is forecast to increase in 2018.
  • Mortgage applications on newly constructed homes rose 18% in December from the previous month. The applications were 7.8% higher than December 2016.
  • The implemented tax reform is already being credited for increased economic growth. Multiple companies are reported to be passing savings on to workers.
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Mortgage Rates – Jan 12, 2018

CONVENTIONAL
30 Yr    4.25 to 4.375 APR 4.43
15 Yr    3.75 to 4 APR 4.1
 
ARMS
5 Yr 3.875 to 4.2 APR 4.37
7 Yr   3.875 to 4 APR 4.124
 
FHA/VA 
30 Yr    3.625 APR 3.74

15 Yr    3.375 APR 3.41

 

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