| Last week, Congress fourth stimulus plan was being discussed in Washington, and there will be a specific aid plan soon. Fed Chairman Powell and Treasury Secretary Mnuchin this week called on Congress to agree on a plan to stimulate the economy and stabilize the current economic recovery, hoping that an agreement can be reached at an early date.After the market turmoil last week, the prices of mortgage bonds and U.S. Treasury bonds were flat or slightly higher, and the 10-year Treasury bond yield remained at 0.66%. Uncertainty about the stimulus plan has risen, causing mortgage bonds to sell off again.The Federal Reserve continues to purchase mortgage bonds to maintain market demand. As the support of mortgage bonds continues, consider focusing on and locking in interest rates this week. And after October 1st, most banks will start to charge a 0.5% service fee of the loan amount for refinance, so locking in this week is very important. |
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Economic Calendar
|
| Report |
Period |
Estimate |
Impact |
|
| Date: Tue. Sep 29 |
|
| S&P/Case-Shiller Home Price Index |
Jul |
3.8% |
Moderate |
| Consumer Confidence |
Sep |
90.0 |
Moderate |
|
| Date: Wed. Sep 30 |
|
| Pending Home Sales |
Aug |
3.0% |
Moderate |
| Gross Domestic Product (GDP) |
Q2 |
-31.7% |
High |
| GDP Chain Deflator |
Q2 |
1.4% |
High |
| Chicago PMI |
Sep |
52.0 |
Moderate |
| ADP National Employment Report |
Sep |
600K |
High |
|
| Date: Thu. Oct 1 |
|
| Personal Spending |
Sep |
0.7% |
Moderate |
| Jobless Claims (Initial) |
9/26 |
850K |
Moderate |
| Personal Consumption Expenditures and Core PCE |
Sep |
0.3% |
High |
| ISM index |
Sep |
56.0 |
High |
| Personal Consumption Expenditures and Core PCE |
YOY |
1.2% |
High |
| Personal Income |
AUG |
0.1% |
Moderate |
|
| Date: Fri. Oct 2 |
|
| Non-farm Payrolls |
Sep |
875K |
High |
| Consumer Sentiment Index (UoM) |
Sep |
72.8 |
Moderate |
| Unemployment Rate |
Sep |
8.3% |
High |
| Average Work Week |
Sep |
34.6 |
High |
| Hourly Earnings |
Sep |
0.2% |
High |
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Today’s Rate
Sep 25, 2020 |
| Conforming Loan |
| Loan Term (Yr) |
Rate (%) |
APR (%) |
| 30yr Fixed |
2.500% |
2.567% APR |
| 15yr Fixed |
2.125% |
2.192% APR |
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|
| High Balance Loan |
| Loan Term (Yr) |
Rate (%) |
APR (%) |
| 30yr Fixed |
2.500% |
2.567% APR |
| 15yr Fixed |
2.250% |
2.317% APR |
|
|
| Jumbo Loan |
| Loan Term (Yr) |
Rate (%) |
APR (%) |
| 30yr Fixed |
3.000% |
3.067% APR |
| 15yr Fixed |
2.750% |
2.817% APR |
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| Daily rate based on: SFR/Primay/LTV60/FICO 780/Purchase |
| IMPORTANT: Advertised rates were valid and effective as of the date reflected above, are for informational purposes only, and are subject to change without notice.Loans are subject to credit and collateral approval. Advertised rates are based on a set of loan assumptions including a borrower with excellent credit history and optimal loan characteristics. Your final interest rate and annual percentage rate (APR) may differ depending on your individual transaction’s specific characteristics, and certain products may not be available for your situation. Several determining factors include, but are not limited to, the state of the property location, loan amount, documentation type, loan type, occupancy type, property type, loan to value, and credit score.APR reflects the cost of credit over the term of the loan expressed as an annual rate. For mortgage loans, APR may include the interest rate, discount points (also referred to as “points”), and other charges or fees (such as mortgage insurance and origination fees), but does not necessarily take into account other loan-specific finance charges you may be required to pay. |
