Shop Mortgage Options & Compare Rates for FREE!

Use the quick & easy tool below to find out what you qualify for.

Mortgage Rates Increase Slightly - 4/3/20

 

Economy News

  • After a record setting 3.28 million unemployment claims the previous week, claims doubled to 6.5 million last week, as shutdowns multiplied across the country.

 

  • March’s ISM manufacturing index was 49.1, signaling contraction as the coronavirus crisis hit the economy. Activity was driven down by a steep decline in new orders and production.

 

  • The U.S. trade deficit shrank in February to the smallest in more than 3 years. Imports declined more than exports ahead of the expanding pandemic’s hit to global commerce.

Housing News

  • Fannie Mae reported that single-family mortgage delinquency had declined to 0.65% in February, from 0.66% in January. That rate is down from 0.76% in Feb 2019.

 

  • Pending home sales jumped over 9% annually in February, 2.4% over January. Homebuyer demand was strengthening markedly just before COVID-19 hit the U.S.

 

  • Home price growth ramped up in January, with the Case-Shiller index posting a 3.1% year-over-year gain. January’s numbers were 2.8% higher than December’s.

Published interest rates based off the following scenarios: Conventional, Homeready; $380k loan amount, 80% LTV, 740+ Credit Score and rate lock good for 30days. FHA; $380k loan amount, 96.5% LTV, 740+ Credit Score, and rate lock good for 30 days. VA; $380k loan amount, 100% LTV, 740+ Credit Score, and rate lock good for 30 days. High Balance Conforming; $575,000 loan amount, 75% LTV, 740+ Credit Score and lock good for 30 days. Jumbo; $800,000, 75% LTV, 760+ Credit Score and rate lock good for 30 days.

Get Your FREE Mortgage Rate Quote Now!