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September 29, 2018 | Mortgage Rates Highest Since Early 2011: Fed Could Push US Into Recession

Mike 'Mish' Shedlock

Mike Shedlock / Mish is a registered investment advisor representative for SitkaPacific Capital Management. Sitka Pacific is an asset management firm whose goal is strong performance and low volatility, regardless of market direction.
The 15-year average mortgage rate is 4.22%. The 30-year rate is 4.72%. These are the highest rates since early 2011.

Bleakley Advisory Group’s Peter Boockvar says the Fed and Global Central Banks Could Push the U.S. into Recession.

Mortgage Rates Highest Since Early 2011

Mortgage News Daily sees things slightly differently but the the disagreement is over a few meaningless basis points.

Mortgage rates were slightly lower again today, but there are some caveats. First of all, the average lender wasn’t in substantially better shape compared to yesterday afternoon. On top of that, bond markets (the underpinnings of mortgage rates) weakened throughout the day. If lenders were beginning their day looking at current bond market pricing, we’d likely have seen rates edge slightly HIGHER. As such, unless bonds manage to receive solid support from Asia and Europe on Monday morning, US lenders will likely be forced to bring rates a bit higher.

Today’s Most Prevalent Rates

  • 30-YR FIXED – 4.75-4.875%
  • 15- YEAR FIXED – 4.25%-4.375
  • FHA/VA – 4.5%
  • 5 YEAR ARMS – 3.75-4.25% depending on the lender

Those rates are slightly higher than the rates posted by the St. Louis Fed.

Mike “Mish” Shedlock

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September 29th, 2018

Posted In: Mish Talk

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