Mortgage rates & Employment Friday

October 5th, 2017

Rates Effective October 5th, 2017 10:30 AM EST

*30-Year Fixed Rate 3.875% (3.961%APR)

**15-Year Fixed Rate 3.250% (3.397% APR)

Conforming loans $424,100 and under

No origination fee on all posted rates.  Call for other rates. ***Rate Assumptions below the news

Suggestions that can change during the day:  12:47 PM Stocks are up bond prices are lower.  Rates are subject to change. Lock is suggested  or you can roll the dice and see what happens tomorrow.

After close Commentary: Coming Soon


Late morning Commentary:   Mortgage rates edged higher in the latest week though still remain just above all-time low levels. Freddie Mac reports that the 30-year fixed-rate mortgage rose two basis points to 3.85% this week with an average 0.5 point added on top of the rate. Average commitment rates should be reported along with average fees and points to reflect the total upfront cost of obtaining the mortgage. Freddie Mac makes owning a home possible for millions of families and individuals by providing mortgage capital to lenders.

Americans filing for first-time unemployment benefits continued to decline in the latest week after the spike in claims due to storms Irma and Harvey. Weekly Initial Jobless Claims fell by 12,000 in the latest week to 260,000, below the 265,000 expected for the week ended September 30. Claims surged at the time the storms hit reaching nearly 300,000 from a low of 236,000 in late August. Unemployment benefits have remained below the 300,000 mark, which is considered a strong jobs market, for 135 consecutive weeks, the longest stretch since 1970 when the labor market was smaller.

Amazon Inc. is invading the space of UPS and FedEx with a new delivery service to make more products available for free two-day delivery and to ease the intense overcrowding at its warehouses. The service was rolled out in India two years ago and the company has been reaching out to U.S. merchants for national expansion here in the States. Amazon is looking for greater flexibility and control on deliveries and to save money at the same time. The question is for Amazon ... what space will they invade next?

Thu, Oct 05 11:58 AM The treasury will sell a total of $56B in Notes and Bonds next week.
Thu, Oct 05 11:28 AM The Fannie Mae 30-yr 3.5% coupon has not closed below 103.0 since July.
Thu, Oct 05 10:53 AM Be on guard for an alert to lock.
Thu, Oct 05 10:52 AM At the same time, the 10-yr yield has risen to near 2.35%, above its 200-day Moving Average, which is a bearish sign.
Thu, Oct 05 10:50 AM MBS fall to session lows. The Fannie Mae 3.5% 30-yr coupon has now fallen below support at the 100-day Moving Average.
Thu, Oct 05 10:22 AM Freddie Mac reports that the 30-yr fixed rate mortgage rose two basis points to 3.85% this week with an average 0.5 point added on top.
Thu, Oct 05 10:22 AM Stocks holding modest gains.
Thu, Oct 05 9:30 AM S&P opens modestly higher.
Thu, Oct 05 8:41 AM Fed's Harker says it's still a 2% growth economy until we see some change on the fiscal side.
Thu, Oct 05 8:35 AM Fed's Harker says monetary policy does not drive economic growth.
Thu, Oct 05 8:34 AM Fed's Harker says this is an incredibly resilient economy.
Thu, Oct 05 8:31 AM The Dow is up 24% since the presidential election on November 8, 2016.
Thu, Oct 05 8:30 AM Weekly Initial Jobless Claims -12K to 260K vs the 265K expected.
Thu, Oct 05 8:18 AM WTI oil at $50/barrel, unchanged.
Thu, Oct 05 8:15 AM U.S. dollar index 93.43, +0.16.
Thu, Oct 05 8:14 AM The Dow (22,661.64), S&P (2,537.74) and the NASDAQ (6,534.74) closed at record highs yesterday.
Thu, Oct 05 8:13 AM Weekly Initial Jobless Claims will be released at 8:30.
Thu, Oct 05 8:13 AM 10-yr yield 2.32%, unchanged.
Thu, Oct 05 8:10 AM S&P futures slightly higher after three straight days of record highs.
Thu, Oct 05 8:09 AM MBS open near unchanged as traders gear up for tomorrow's Jobs report for September.

***Rate Assumptions

 Actual payments will vary based on your individual situation and current rates. The above rates are subject to change.

  • Some products may not be available in all states.
  • Jumbo Rates (loans over $424,100) not be available to first time home buyers.
  • Lending services may not be available in all areas.
  • Some restrictions may apply.
  • Based on the purchase/refinance of a primary residence with no cash out at closing.
  • We assumed (unless otherwise noted) that: closing costs are paid out of pocket; this is your primary residence and is a single family home; debt-to-income ratio is less than 30%; and credit score is over 780; and an escrow account for the payment of taxes and insurance.
  • The lock period for your rate is 30 days.
  • The loan to value (LTV) ratio is 70%. If LTV > 80%, PMI will be added to your monthly mortgage payment for all conventional loans.
  • Rates assume a credit score of at least 780.
  • Please remember that we don’t have all your information. Therefore, the rate and payment results you see from this calculator may not reflect your actual situation. National Bank of Commerce offers a wide variety of loan options. You may still qualify for a loan even if your situation doesn’t match our assumptions. To get more accurate and personalized results, please call (205) 266-5669 to talk to John Marbury.
  • *30-Year Fixed-Rate Mortgage: The monthly payment on a $200,000 30-year Fixed-Rate Loan at 3.875% and 70% loan-to-value (LTV) is $940.47 with 0 points due at closing. The Annual Percentage Rate (APR) is 3.961%. Payment does not include taxes and insurance premiums. The actual payment amount will be greater. Some state and county maximum loan amount restrictions may apply.
  • **15-Year Fixed-Rate Mortgage: The monthly payment on a $200,000 15-year Fixed-Rate Loan at 3.250% and 70% loan-to-value (LTV) is $1405.34 with 0 points due at closing. The Annual Percentage Rate (APR) is 3.397%. Payment does not include taxes and insurance premiums. The actual payment amount will be greater. Some state and county maximum loan amount restrictions may apply has attempted to verify the information contained on this post.  However any aspect of such may change without notice. does not provide investment advice and does not represent that any of the information or related analysis is accurate or complete at any time. Forgive my spelling and grammatical mistakes due to writing skills that are lacking and the need to communicate quickly.  


John Marbury
Mortgage Lender NMLS# 514390
NMLS# 740833
Fax: 866-217-4174

813 Shades Creek Parkway
Birmingham, Alabama 35209

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