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

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.

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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