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Current Interest Rates *, **
FIXED CONFORMING
PROGRAM RATES APR Pmt Per $1,000
30 YR 3.375%

3.421%

$4.42
15 YR 3.000% 3.079% $6.91
FIXED JUMBO
PROGRAM RATES APR Pmt Per
$1,000
30 YR 3.750% 3.798% $4.63
ARM Click any ARM product for more information.
PROGRAM RATES APR Pmt Per
$1,000
10/1 3.750% 3.798% $4.63
7/1 3.500% 4.074% $4.49
5/1 3.250% 4.098% $4.35
3/1 3.125% 4.230% $4.28
 
 
Current Interest Rates*, **
HOME EQUITY LINE OF CREDIT1
PROGRAM RATES APR Pmt Per
$1,000
20 YR 5.25% 5.25% $6.74
HOME EQUITY LOAN2
PROGRAM RATES APR Pmt Per
$1,000
10 YR 5.24% 5.24% $10.72
15 YR 5.49% 5.49% $8.17
20 YR 5.99% 5.99% $7.16
 
*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 3.375%

3.421%

$4.42
15 YR 3.000% 3.079% $6.91
FIXED JUMBO
PROGRAM RATES APR Pmt Per
$1,000
30 YR 3.750% 3.798% $4.63
ARM Click any ARM product for more information.
PROGRAM RATES APR Pmt Per
$1,000
10/1 3.750% 3.798% $4.63
7/1 3.500% 4.074% $4.49
5/1 3.250% 4.098% $4.35
3/1 3.125% 4.230% $4.28
 
 
Current Interest Rates*, **
HOME EQUITY LINE OF CREDIT1
PROGRAM RATES APR Pmt Per
$1,000
20 YR 5.25% 5.25% $6.74
HOME EQUITY LOAN2
PROGRAM RATES APR Pmt Per
$1,000
10 YR 5.24% 5.24% $10.72
15 YR 5.49% 5.49% $8.17
20 YR 5.99% 5.99% $7.16
 
*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 August 16, 2019 10:20:33 AM EDT

Julys Housing Starts report was posted at 8:30 AM ET this morning, revealing a 4.0% drop in new home groundbreakings. This was weaker than expected, hinting at a softer housing sector. However, the decline is being attributed to lower multi-family housing starts. New groundbreakings for single family homes actually rose last month and a secondary reading that tracks new permits issued for future starts was stronger than forecasts. That makes the data neutral to slightly negative for bonds and mortgage rates.

We did get some good news from this morning’s second release. The University of Michigan’s preliminary Index of Consumer Sentiment for August came in at 92.1, well below July’s 98.4 and forecasts of 97.7. The lower reading indicates surveyed consumers did not feel as strong about their own financial situations as many had thought. Because waning confidence in their finances usually means consumers will delay making a large purchase in the near future, we can consider this good news for rates. That is because consumer spending makes up almost 70% of our economy and bonds tend to thrive during weaker economic conditions. Unfortunately, this report is not important enough to offset the negative momentum in bonds this morning.

Next week lacks any key economic data with just a couple of housing reports and one other release scheduled. But we do get the minutes from last month’s FOMC meeting where the Fed cut key rates for the first time since December 2008. They have the potential to create volatility in the markets or be a non-factor. The same can be said for a speaking engagement by Fed Chairman Powell next Friday morning. The week starts off with nothing of relevance scheduled, leaving weekend news and stock movement to drive bond trading and mortgage rates. Look for details on all of next week’s activities in Sunday evening’s weekly preview.

 ©Mortgage Commentary 2019

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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 August 16, 2019 and are subject to change at any time. Conforming loan sizes up to $484,350.00 on one unit properties. Conforming rates and APR based on $484,350.00 loan amount with FICO credit scores of 780 and loan to value no greater than 75%. Jumbo rates and APR based on a $484,351.00 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 August 16, 2019 and are subject to change at any time. Conforming loan sizes up to $484,350.00 on one unit properties. Conforming rates and APR based on $484,350.00 loan amount with FICO credit scores of 780 and loan to value no greater than 75%. Jumbo rates and APR based on a $484,351.00 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.