Mortgage Rates Keeping Hope Alive

Mortgage Rates Keeping Hope Alive

November 16th, 2015

Loan Originator Perspective

"We were hoping for a third day of positive movement to close the week, and got it today!  Looks like our pricing improved about 25 bps, which is certainly welcome.  I still can't confirm a looming rally, but am hoping at least we've seen the near term top for rates.  I'm not anti-float now for new loans, IF borrower understands there's probably a 50/50 chance of losses versus gains.  Those not willing to accept risk could certainly do worse than locking now." -Ted Rood, Senior Loan Originator

"I continue to favor floating here.   MBS have picked up some gains today, but lenders haven't fully passed them through to their rate sheets.  If you lender has repriced for the better today, you might want to consider locking.   But I think it may be worth the risk to float to Monday to see if these gains can be built on and allow lenders time to pass along the improvements." -Victor Burek, Churchill Mortgage

Today's Best-Execution Rates

  • 30YR FIXED - 4.0-4.125%
  • FHA/VA - 3.75%
  • 15 YEAR FIXED - 3.25-3.375%
  • 5 YEAR ARMS -  2.75 - 3.25% depending on the lender