Mortgage rates today, September 10, 2019, plus lock recommendations

Mortgage rates today, September 10, 2019, plus lock recommendations

September 11, 2019 Off By administrator

What’s driving mortgage rates today?

Average mortgage rates rose again yesterday, as we predicted. The increase wasn’t as sharp as last Thursday’s but it was still appreciable. Of course, rates are still remarkable bargains by historical standards. But, unless sentiment in markets changes soon, recent lows might become a distant memory, at least in the short term.

Markets this morning look set to replay yesterday’s rise, though probably at a slower pace. Only stock indexes looked friendly toward mortgage rates, with all the other indicators suggesting another rise. Although there are still data to be digested, these rarely exert much influence.

So mortgage rates today look likely to move moderately higher. But, as always, events might overtake that prediction.

Program Rate APR* Change
Conventional 30 yr Fixed 3.995 3.995 Unchanged
Conventional 15 yr Fixed 3.75 3.75 +0.06%
Conventional 5 yr ARM 4.5 4.31 +0.14%
30 year fixed FHA 3.313 4.297 +0.06%
15 year fixed FHA 3.375 4.324 +0.06%
5 year ARM FHA 3.5 4.628 +0.01%
30 year fixed VA 3.313 3.482 +0.06%
15 year fixed VA 3.313 3.622 Unchanged
5 year ARM VA 3.5 3.821 +0.01%
Your rate might be different. Click here for a personalized rate quote. See our rate assumptions here.

» MORE: Check Today’s Rates from Top Lenders (September 10, 2019)

Financial data affecting today’s mortgage rates

First thing this morning, markets looked set to deliver mortgage rates today that are somewhat higher. By approaching 10 a.m. (ET), the data, compared with this time yesterday, were:

  • Major stock indexes were all a little lower soon after opening. (Good for mortgage rates.) When investors are buying shares they’re often selling bonds, which pushes prices of Treasurys down and increases yields and mortgage rates. The opposite happens on days when indexes fall. See below for a detailed explanation
  • Gold prices fell to $1,506 an ounce from $1,517. (Bad for mortgage rates.) In general, it’s better for rates when gold rises, and worse when gold falls. Gold tends to rise when investors worry about the economy. And worried investors tend to push rates lower)
  • Oil prices rose to $58 a barrel from $57. (Bad for mortgage rates, because energy prices play a large role in creating inflation)
  • The yield on 10-year Treasurys climbed to 1.65% from 1.62%. (Bad for mortgage rates.) More than any other market, mortgage rates tend to follow these particular Treasury bond yields
  •  CNNMoney’s Fear & Greed Index increased to 52 from 45 out of a possible 100 points. (Bad for mortgage rates.) “Greedy” investors push bond prices down (and interest rates up) as they leave the bond market and move into stocks, while “fearful” investors do the opposite. So lower readings are better than higher ones

So it might be a worse day for mortgage rates.

Verify your new rate (September 10, 2019)

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