Nosari Home Mortgage, Inc.

Chris Nosari

  • About
  • Blog
  • Apply
  • Resources
    • First Time Home Buyer Tips
    • First Time Home Seller Tips
    • Closing Costs
    • Home Appraisal
    • Home Inspection
    • Loan Checklist
    • Loan Process
    • Loan Programs
    • Mortgage Glossary
    • Mortgage FAQ
  • Reverse Mortgages
  • Reviews
    • Zillow Reviews
    • Facebook Reviews
    • Additional Reviews
  • Contact
You are here: Home / Mortgage Rates / What’s Ahead For Mortgage Rates This Week – June 12, 2017

What’s Ahead For Mortgage Rates This Week – June 12, 2017

June 12, 2017 by Nosari Home Mortgage, Inc.

Last week’s economic news was slim, with few scheduled reports released. Job openings for April, along with weekly readings on mortgage rates and weekly jobless claims were released. Job openings rose in April, while weekly jobless claims were lower. The headline event last week was a further decrease in fixed-rate mortgage interest rates.

Mortgage Rates Lowest in Almost 7 Months

Freddie Mac reported that average rates for fixed rate home loans fell again last week. Mortgage rates typically follow 10-year Treasury yields, which also fell last week. The average rate for a 30-year fixed rate mortgage dropped five basis points to 3.89 percent; the average rate for a 15-year fixed rate mortgage was three basis points lower at 3.16 percent. The average rate for a 5/1 adjustable rate mortgage was unchanged at 3.11 percent; discount points for all three mortgage types were also unchanged at an average of 0.50 percent.

Analysts cited mixed economic reports and uncertainty as factors contributing to lower mortgage rates. After months of short supplies of homes and high demand coupled with rapidly increasing home prices, first-time and moderate- income home buyers may gain a foothold in some housing markets that were previously inaccessible.

New Jobless Claims Fall, Job Openings Increase

First-time jobless claims were lower last week with 245,000 new claims filed as compared to an expected reading of 245,000 new claims and the prior week’s reading of 255,000 new jobless claims. In related news, job openings were higher in April with a reading of 6.0 million job openings as compared to 5.80 million job openings in March. Fewer new jobless claims coupled with more job openings suggests that layoffs are not driving new jobless claims.

What‘s Ahead

Next week’s scheduled economic reports include readings on Inflation, core inflation, and the Federal Open Market Committee of the Federal Reserve will release its post-meeting statement. Fed Chair Janet Yellen is set to give a press conference after the FOMC statement. The FOMC statement will indicate if the Fed will raise its target federal funds rate. The National Association of Home Builders will release its Housing Market Index for June. Weekly readings on mortgage rates and new jobless claims will also be released.

Spread the love

Filed Under: Mortgage Rates Tagged With: Mortgage Rates

Chris Nosari


Nosari Home Mortgage
APPLY NOW  
Click to Download Our App  
Visit Our Main Site  

Sign Up For Our Free Newsletter

Connect with Us!

Get A Free Rate Quote!

  • This field is for validation purposes and should be left unchanged.

Calculate Mortgage Payments

Mortgage Calculator

Recent Articles

  • Case-Shiller Reports Home Prices Rise at Fastest Pace in 7 Years
  • Three Tips For Reducing Your Closing Costs If You’re Looking Forward To Buying A Home In The Spring
  • What’s Ahead For Mortgage Rates This Week – February 22, 2021
  • Variable-Rate VS. Fixed-Rate Mortgages – Which Is Better For Your Financial Situation?
Nosari Home Mortgage
1001 Hwy 62 E
Mountain Home, AR 72653
Phone: 870-425-8351
Fax: 870-425-8353
NMLS: AR #136034 | MO Lic #2358
Equal Housing Lender

Looking For Something?

Categories

Copyright © 2021 · Powered by MySMARTblog