Mortgage Rates Tuesday Sept 5 Down Across The Board

Mortgage Rates Tuesday Sept 5 Down Across The Board


Mortgage Rates Tuesday, Sept. 5: Down Across the Board

Mortgage rates for 30-year and 15-year fixed-rate home loans fell two basis points and the 5/1 ARM fell by one basis point, according to a NerdWallet survey of daily mortgage rates published by national lenders Tuesday morning.

Rates dropped after the markets had a long weekend to mull over the employment report for August, which was released Friday. Employment and wages were up, but they grew more slowly than expected.

And over the weekend, North Korea announced that it had tested its most powerful nuclear weapon so far. Investors responded again by buying bonds, which are seen as safer investments than stocks. Bond prices went up and yields went down this morning, and mortgage rates accompanied the bond yields downward.

The economic highlight of the week comes Wednesday, with the release of the Federal Reserve’s Beige Book, a snapshot of how the economy is performing across the country. That, in turn, could provide some insight into what the Fed might do in coming months regarding interest rate policy. However, international events have the potential to move mortgage rates more than economic news this week.

MORTGAGE RATES TODAY, TUESDAY, SEPT. 5:

(Change from 9/1)
30-year fixed
: 3.91% APR (-0.02)
15-year fixed
: 3.33% APR (-0.02)
5/1 ARM
: 3.84% APR (-0.01)


Originally posted on nerdwallet.com by Holden Lewis; https://www.nerdwallet.com/blog/mortgages/mortgage-rates-tuesday-sept-5/


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Dated: September 7th 2017
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