Exuberance is creeping in, but there’s little substantive news to really move the markets. Generally, earnings are strong, interest rates remain at historical lows, we are at near full-employment, and the business environment is favorable.
Thinking about buying a new home? Use our home purchase calculator to see what you qualify for and start your loan application with confidence.
The prevailing mortgage rates trend continues to be sideways.
10-year US Treasury Rates
Today’s Prevailing Mortgage Rates*
|
30-year fixed rate
|
3.875-4.125%
|
3.956 – 4.125% APR
|
|
30-year FHA/VA
|
3.250 – 3.625%
|
4.108 – 4.368% APR
|
|
15-year fixed rate
|
3.250 – 3.500%
|
3.345 – 3.50% APR
|
Today’s favorite stock pick:
I love the banks at this stage in the cycle and $BAC seems to have the most upside. In general, banks are attractive because:
- Interest rates will eventually rise
- Banks have had time to strengthen their balance sheet and get healthy
- Lending is beginning to loosen up again, which will start to fatten profits
Thinking about buying a new home? Use our home purchase calculator to see what you qualify for and start your loan application with confidence.
I also like this potential for a big inversion as debt shifts back to financial companies.
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* These rates and programs are based on the following base assumptions: a loan amount of $200,000, CLTV of 80%, and a credit score of 740 in the 48150 zip code. Your actual rate, payment, and financing costs may be higher. In addition, there may be additional third-party fees, such as lender underwriting appraisal, credit reporting, title services, and government recording, etc, that may be applied at or before closing. Always get an official loan estimate before choosing your loan.
photo credit: https://unsplash.com/@naassomz1