Mortgage interest rates have improved modestly today, as lenders passed along those gains that markets have seen yesterday, following Janet Yellen’s congressional testimony. This is the second straight day that interest rates have been on a downward trajectory. The benchmark 10-year Treasury yield has remained below 2 percent on Wednesday, following yesterday’s decrease.
As far as domestic economic reports are concerned, the Commerce Department reported today, that new home sales for January slipped 0.2% to a seasonally adjusted 481,000. This is a higher figure than the consensus expectation of 471,000. However, this data doesn’t seem to have a big influence on financial markets today. Tomorrow some more economic data is scheduled to be released, including consumer price index, durable good orders and the weekly jobless claims report.
Moving on to current mortgage rates at top lenders, the 30-year fixed home loan rate looks stable at Bank of America (NYSE:BAC) at 3.875% and the 15-year FRM has been holding steady as well at 2.875%. No changes were made to home refinance rates either, with the 30-year fixed mortgage coming out at 3.875% and the 15-year refinance loan hovering at 3.000%.
At another top mortgage lender, U.S. Bank (NYSE:USB), the standard 30-year fixed home loan is carrying 3.950% interest cost this mid-week. The 15-year fixed alternative is standing at 3.250%.
Compared to yesterday’s levels, interest rates haven’t seen any major changes today at Wells Fargo (NYSE:WFC). According to our observations, the 30-year fixed home purchase mortgage is quoted at a rate of 4.000%. The interest rate on the 15-year FRM hasn’t seen any changes either, as it still hovers at 3.375%. Turning focus to home refinancing, the lender’s 30-year fixed refi loan is available today at a rate of 4.000%. According to the bank’s published information, the 15-year home refinance loan is starting at 3.500%.
The above mentioned interest rates are subject to change and are not guaranteed. In order to search for live mortgage rate quotes from some of the top U.S. lenders, please click on the link below. To calculate your monthly mortgage payment, feel free to use our featured mortgage calculator.