Current Mortgage Rates Improve on Tuesday

Mortgage rates are improving a little today as government bond yields slide lower. Rates are still expected to move higher as we march through 2018 so our recommendation remains for borrowers to take action on a purchase or refinance soon. It only takes a quick phone call or a few minutes online to get started. Read on for more details.

Market Outlook 3.26.18 from Total Mortgage on Vimeo.

Where are mortgage rates going?                                                  

Mortgage rates improve

Bond yields are moving a little lower today, bringing with them mortgage rates. The yield on the 10-year Treasury note, which is the best market indicator of where mortgage rates are going, is down almost four basis points to 2.82%. Mortgage rates typically move in the same direction as the 10-year yield.

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Rate/Float Recommendation                           

Lock now before rates get higher 

The outlook for 2018 remains for mortgage rates to move higher. This means that borrowers who take action sooner rather than later are more likely to get the better deal on a purchase or refinance.

Everyone has unique circumstances that affect what they should do, which is why it’s so important to talk to experienced professionals about what you should do. Give us a call or shoot us a message today and let’s talk about your options.

Learn what you can do to get the best interest rate possible. 

Today’s economic data:                                      

S&P Corelogic Case-Shiller HPI

• The 20-city seasonally adjusted index moved up 0.8% in January. The non-seasonally adjusted index crept up 0.3%, month over month, putting it at 6.4%, year over year.

Consumer Confidence  

• Consumer confidence hit 127.7 in March. That’s lower than the prior reading but still a solid number.

Richmond Fed Manufacturing Index 

• The Richmond Fed Mfg Index hit a 15 in March.

Fedspeak 

• Atlanta Fed President Raphael Bostic at 11:00am.

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Notable events this week:                

Monday: 

• Chicago Fed National Activity Index
• Dallas Fed Mfg Survey
• Fedspeak

Tuesday:    

• S&P Corelogic Case-Shiller HPI
• Consumer Confidence
• Richmond Fed Manufacturing Index
• Fedspeak

Wednesday:      

• GDP
• International Trade in Goods
• Pending Home Sales Index
• EIA Petroleum Status Report
• Fedspeak

Thursday:        

• Jobless Claims
• Personal Income and Outlays
• Chicago PMI
• Consumer Sentiment
• Fedspeak

Friday:       

• Markets Closed for Good Friday

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