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Current Interest Rates *, **
FIXED CONFORMING
PROGRAM RATES APR Pmt Per $1,000
30 YR 3.250%

3.371%

$4.35
15 YR 3.125% 3.341% $6.97
FIXED JUMBO
PROGRAM RATES APR Pmt Per
$1,000
30 YR 3.625% 3.753% $4.56
ARM Click any ARM product for more information.
PROGRAM RATES APR Pmt Per
$1,000
10/1 3.500% 3.359% $4.49
7/1 3.250% 3.147% $4.35
5/1 2.990% 3.012% $4.21
3/1 2.990% 2.997% $4.21
 
 
Current Interest Rates*, **
HOME EQUITY LINE OF CREDIT1
PROGRAM RATES APR Pmt Per
$1,000
20 YR 3.25% 3.25% $5.67
HOME EQUITY LOAN2
PROGRAM RATES APR Pmt Per
$1,000
10 YR 4.49% 4.49% $10.36
15 YR 4.49% 4.49% $7.64
20 YR 5.49% 5.49% $6.87
 
*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 3.250%

3.371%

$4.35
15 YR 3.125% 3.341% $6.97
FIXED JUMBO
PROGRAM RATES APR Pmt Per
$1,000
30 YR 3.625% 3.753% $4.56
ARM Click any ARM product for more information.
PROGRAM RATES APR Pmt Per
$1,000
10/1 3.500% 3.359% $4.49
7/1 3.250% 3.147% $4.35
5/1 2.990% 3.012% $4.21
3/1 2.990% 2.997% $4.21
 
 
Current Interest Rates*, **
HOME EQUITY LINE OF CREDIT1
PROGRAM RATES APR Pmt Per
$1,000
20 YR 3.25% 3.25% $5.67
HOME EQUITY LOAN2
PROGRAM RATES APR Pmt Per
$1,000
10 YR 4.49% 4.49% $10.36
15 YR 4.49% 4.49% $7.64
20 YR 5.49% 5.49% $6.87
 
*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 July 15, 2020 10:10:19 AM EDT

The first of today’s two economic reports was Junes Industrial Production data at 9:15 AM ET that showed output at U.S. factories, mines and utilities jumped 5.4% last month. This was stronger than the 4.5% increase that was expected, but not enough of a variance to cause alarm in the bond market. It shows that some manufacturing activity was strong than thought, making the data bad news for rates. Fortunately, this is only a moderately important release that did not have an actual impact on today’s mortgage pricing.

The second release of the day will be the Federal Reserve’s Beige Book report at 2:00 PM ET. This report is named simply after the color of its cover, but it is considered to be important to the Fed when determining monetary policy during their FOMC meetings. It details economic activity and conditions by Fed region throughout the U.S. If there are any significant changes in conditions since the last update, we could see an afternoon move in the markets and mortgage rates. Signs of lackluster growth would be favorable news for rates.

Tomorrow morning brings us two important pieces of economic data for the markets to digest. The first is Junes Retail Sales report from the Commerce Department at 8:30 AM ET. It is expected to show that retail-level sales rose 5.0% last month as the economy continues to recover from the pandemic. Because consumer spending makes up over two-thirds of the U.S. economy and bonds are more attractive during weaker economic conditions, this data is watched very closely. Good news for mortgage rates would be a smaller than expected rise in sales.

We will also get weekly unemployment figures early tomorrow morning. They are expected to show that 1.26 million new claims for unemployment benefits were filed last week, down from the previous week. A high number of new filings is considered to be a sign of employment sector weakness. Therefore, the higher the number of claims, the better the news it is for mortgage rates.

 ©Mortgage Commentary 2020

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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 July 13, 2020 and are subject to change at any time. Conforming Purchase loan sizes up to $510,400.00 on one unit properties. Conforming rates and APR based on $510,400.00 Purchase loan amount with FICO credit scores of 780 and loan to value no greater than 75%. Jumbo rates and APR based on a $510,410.01 Purchase 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 July 13, 2020 and are subject to change at any time. Conforming Purchase loan sizes up to $510,400.00 on one unit properties. Conforming rates and APR based on $510,400.00 Purchase loan amount with FICO credit scores of 780 and loan to value no greater than 75%. Jumbo rates and APR based on a $510,410.01 Purchase 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.