California Mortgage Report: September 21, 2017

Published on September 21, 2017

– 2 min read

Check out the latest news from the Federal Open Market Committee (the Fed).

The Federal Reserve announced yesterday that it plans to reduce its balance sheet at a predictable pace. Part of this plan includes several increases to the federal funds rate over the course of this year and next year, which could correspond to a rise in mortgage interest rates as well.

Freddie Mac reports, “following a sharp decline last week, the 10-year Treasury yield rose 11 basis points this week. The 30-year mortgage rate, however, remained unchanged at 3.78 percent. If Treasury yields continue to rise, mortgage rates could see an increase in next week’s survey.”

What does this mean for you?

If you’re planning to refinance your home, or buy a new one, now might be the best time to do it.

Jack Rong
Jack Rong works in Capital Markets and Investor Relations at Clara with prior experience managing agency mortgage portfolios at Barclays. When he isn’t thinking about mortgage math, he enjoys playing basketball and volunteering at the Boys and Girls Club.
Clara

Clara is an online lender helping individuals and families finance their lives in a more efficient, transparent and empowered way.

Learn More

The Clara Team is Now Part of SoFi

We are excited to announce that the Clara team is now part of SoFi. Three years ...
We are excited to announce that the Clara team is ...
1 min read

Questions to Ask a Home Inspector

Before you buy a home, it’s important to order a home inspection from a profes...
Before you buy a home, it’s important to order a...
4 min read

Negotiating After Home Inspections

After a home inspection, you as the buyer are in a position to think through the...
After a home inspection, you as the buyer are in a...
3 min read