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- Mortgage Rates 📢 September 16th, 2024
Mortgage Rates 📢 September 16th, 2024
Rates Lower⬇️ — All eyes on the Fed
Glenn Groves
September 16, 2024
INTEREST RATES
10-Year-Treasury 30-Day Snapshot
Product | Rate / APR | Weekly Change |
|---|---|---|
⬇️ Conv. | 5.990% / 6.002% | -.125% |
↔️ Conv. HB | 6.500% / 6.511% | -.000% |
↔️ JUMBO | 6.500% / 6.509% | -.000% |
⬇️ FHA 3.5% DP | 5.125% / 6.040% | -.125% |
⬇️ VA 0% DP | 5.250% / 5.456% | -.250% |
Rate data as of morning of publication. Unless noted otherwise, all scenarios are assuming 30 Year-Fixed mortgage, Purchase or R/T Refinance. No origination points charged, 780 FICO score, and 20% down payment. Provided for consumer education only and does not serve as a binding offer to extend lending. Payment period, interest rate, APR, and other terms subject to income, asset, and credit profile qualification. Provided courtesy of GTG Financial, Inc. NMLS 1595076. Equal housing opportunity. www.nmlsconsumeraccess.org
Rate Markets: The march downward continues. Wednesday is the Fed rate cut day. There is a 65% chance of a 50bps cut!
Bottom Line: Markets are reacting well to leaked Fed news. If it comes out that the cut is only 25bps, we could see a snap reversal in mortgage rates. Nothing crazy, but be prepared for confused consumers.
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