Economy

Mortgage Interest Rates Worsen at TD, PHH Mortgage Nov 1, 2017

Mortgage application form with a calculator and house.

On an unadjusted basis, the composite index decreased by 3% week over week. 5 year Adjustable Rate Mortgages at TD Bank start at 3.125% with a starting April of 4.095%. The seasonally adjusted purchase index decreased by 1% compared with the week ended October 20. The unadjusted purchase index decreased by 2% for the week and is now 10% higher year over year.

The benchmark 30 year refinance loan interest rates are on the books at 3.750% at Chase with an April of 3.853%.

The 5/1 Adjustable Rate Mortgage interest rates at PHH are being quoted at 3.690% with a starting April of 4.081% which will change as interest rates adjust. Jerome Powell, who is viewed as the more accommodative choice, is the bond market's favorite.

The average interest rate for a 30-year fixed-rate mortgage with conforming loan balance was 4.22%, up from 4.18%, based on contract signings. 7/1 Adjustable Rate Mortgages are available starting at 3.500% now with a starting April of 3.581%.

The 5 year ARMs at Commerce are published at 3.125% with a starting April of 3.868% which will change as interest rates adjust. The 10/1 ARM loans stand at 3.375% today yielding an April of 3.992% to start. The short term 15 year refinance fixed rate mortgages at the bank are being offered for 3.000% with an April of 3.145% today.



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