Mortgage rates have begun to rise in the past month. Yesterday, talks of the European Central Bank’s (ECB) additional stimulus has gave a strong push for the U.S. Stock Market, and a hurting on the mortgage backed securities (MBS). Between the Empire State regional manufacturing index coming in at a negative 16.6, which is below the consensus of -10.0, and oil prices declining a slight bit more, due to the top producers not being able to come together to reach a deal on limiting supply, MBS has taken a slight drop. Mortgage rate shoppers should always have a good idea on when rates are changing. This is due to when mortgage rates drop; mortgage lenders will not be honoring the same rate as they have offered the day before. It’s important to know the current mortgage rates being offered, if you do not, you will want to speak with NSH Mortgage for calculating your interest rate.


Locking Current Mortgage Rates


If you are interested in today’s current mortgage rates and do not want to miss out, it would be a good idea to talk to your mortgage lender and lock today’s current mortgage rate on your next home loan.


Today’s Current Mortgage Rates Analysis


The analysis for current mortgage rates is due to the price of the live mortgage-backed securities (MBS). Many loan officers, real estate agents, and other finance professionals use the MBS Quoteline, which is a real-time mortgage market data service to track these movements. The data they are reviewing from the MBS Quoteline is the same data used to formulate current mortgage rates by the nation’s mortgage lenders.


Current Mortgage Rates and Today’s Fannie Mae Bonds


The Fannie Mae bonds that most mortgage lenders will review are linked to conventional mortgage rates, which include mortgage rates for many different programs such as the HARP 2.0 mortgage program. The Home Affordable Refinance Program (HARP 2.0) is just one of these programs, others include the 3-percent down Conventional 97 loan and the HomePath mortgage program.


Mortgage-Backed Securities are inversely related to today’s current mortgage rates. When bond prices begin to rise, mortgage rates begin to drop, which for the past year we have been all too familiar with. To make this a little more understandable, a 25 basis point change in mortgage-backed security pricing, up or down, would cause a 0.125 percentage point movement in current mortgage rates.


Ginnie Mae Bonds Movements on Current Mortgage Rates


Fannie Mae and Ginnie Mae bonds are not the exact same, but tend to move in similar directions. Ginnie Mae bonds correlate with current mortgages rates for not only conventional loans, but other types of home loans as well. Other types of these current mortgage rates are: FHA Loans, such as the FHA Streamline Refinance, which is insured by the Federal Housing Administration, VA Loans that is insured by the Department of Veterans Affairs, and the USDA loans, which is guaranteed by the U.S. Department of Agriculture.


What Will Current Mortgage Rates Do Today?


Mortgage rates tend to change every day, all day long. The mortgage rates you get from your bank or mortgage lender in this moment will not be the same you may request later. You can use the NSH Mortgage Calculator to see what your mortgage would be like in this very moment, and are able to lock that in. As rates go up and down, decide what is in your best interest for today’s current mortgage rates.


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