Month in Review:
As we head into mid-February we are finding that rates have declined overall. This decline comes after a period of rapid mortgage rate movements we saw at the end of 2016, which followed the end of the presidential election. The 30-year fixed jumbo annual percentage rate (APR) fell by 0.034 to 4.131. In addition, the 30-year fixed conforming dropped 0.014 and 5/1 ARM jumbo dropped 0.012 to 4.274 and 3.773 respectively. Pending no large market sell-offs, we believe rates will rise steadily, given the Federal Reserve’s intent to gradually raise interest rates within the year, coupled with positive signs of economic growth expectations. In terms of volatility, one significant varying factor is investor sentiment based on current political differences between congress and the Trump administration.
Source: Informa Research Services is the premier provider of competitive rate and fee intelligence, sales and service evaluation, regulatory compliance testing and lead-generation services to the financial industry. Since 1983, Informa has provided the information clients need to make more profitable business decisions. Currently, Informa serves more than 6,500 clients including all of the nation’s top 100 financial institutions. Our earned reputation for extreme accuracy, depth of product information, and enthusiastic customer service keeps our clients renewing our services year after year.