The 30 year mortgage rate

Current 20 Year Mortgage Rates

Welcome to the TMS current mortgage rates blog. There’s some economic data out today, but first, your daily mortgage rate forecast/advice.

Where are mortgage rates going?

The Freddie Mac Primary Mortgage Market Survey (PMMS) got released this morning (as it does every Thursday at 10:00am), and it showed that mortgage rates trended higher this week. The average rate on a 30-year fixed rate mortgage rose five basis points (one basis point = o.01) to 3.52% (0.5 points); the average rate on a 15-year fixed rate mortgage went up three basis points to 2.79% (0.5 points); and the average rate on a 5-year ARM went up three basis points to 2.85% (0.5 points). It’s a fairly significant report, as the 30-year fixed average hasn’t been over 3.50% in the past four months.

Here is what Sean Becketti, Chief Economist at Freddie Mac, had to say about mortgage rates this week:

“The 30-year fixed-rate mortgage moved a solid 5 basis points to 3.52 percent while the 10-year Treasury yield remained relatively flat. This is the first week in over 4 months that rates have risen above 3.50 percent. This month, mortgage rates seem to be catching up to Treasury yields and returning to pre-Brexit levels.”

What does this mean for me?

Mortgage rates did rise this week, but that doesn’t mean there aren’t good opportunities out there for borrowers. All things considered, rates are still not far off from all-time lows. It does seem more likely than not that mortgage rates will continue to rise, so I recommend acting sooner rather than later.

Jobless Claims

Applications filed for U.S. unemployment benefits for the week of 10/15 came in at 260, 000. That’s 13, 000 higher than the previous revised reading and 10, 000 higher than economists’ projections. The 4-week moving average is now at 251, 750.

Philadelphia Fed Business Outlook Survey

The Philly Fed report came in at a 9.7 for October. That’s higher than the 7.0 that was expected. New orders and shipments are both way up, posting some of the best numbers since November 2014. Employment and the work week are both showing contraction. Overall, though, the report is a good one.

Existing Home Sales

Sales of existing homes for September came in at 5.470 M. That’s 3.2% higher than the prior reading of 5.33 M. The year over year change is now at 0.6%.


New York Fed President William Dudley will speak several times throughout the day at a workshop examining culture and behavior in the financial services industry.


  • Empire State Mfg
  • Industrial Production
  • Fedspeak


  • Housing Starts
  • EIA Petroleum Status Report


  • Jobless Claims
  • Philadelphia Fed Business Outlook Survey
  • Existing Home Sales


Carter Wessman is originally from the charming town of Norfolk, Massachusetts. When he isn’t busy writing about mortgage related topics, you can find him playing table tennis, or jamming on his bass guitar.

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When a mortgage loan originator changes companies how soon is that reflected in the NMLS consumer access website? - Quora

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Navy Federal is a specific credit union that offers a broad variety of financial products, including personal loans.
A personal loan is a loan from a bank that is not tied to a specific purpose like an auto loan or a mortgage; often, the bank will just give you money in exchange for your promise to pay it back at an agreed upon rate.
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