Financial news was slower last week and the beginning of this week due to US markets being closed on Good Friday and overseas markets closed today for Easter Monday. This allowed mortgage bonds to continue their upward trend and San Diego Mortgage Rates to improve back to where they were in the middle of March.
Today, a client looking to refinance their San Diego Home Loan with a home value of $450,000 and an 80% Loan to Value could get a 30 year fixed rate mortgage at 3.49%, 3.579% APR. This San Diego Mortgage Rate is based on a 740 plus credit score and the monthly principle and interest payment would be $1,435.16.
What Could Affect San Diego Mortgage Rates This Week?
- Monday, April 1: ISM Index
- Wednesday, April 3: ADP National Employment Report and ISM Services Index
- Thursday, April 4: Initial Jobless Claims
- Friday, April 5: THE JOBS REPORT- a192,000 jobs are expected to be created
There are no Bond or Note auctions this week, so the absence of new supply could be a positive for San Diego Mortgage Rates as the week moves on.
With the S&P 500 Index closing at a new record high of 1,569 on Thursday, surpassing the previous record which was reached back on October 9, 2007, the question becomes can the rally can continue after a 10% rise in S&P in the 1st quarter. If profit taking sets in, Mortgage Bonds will likely benefit and so will San Diego Mortgage Rates.
If you are interested in getting your own quote, please click HERE or feel free to give me a call at 619-312-0612. I am a 12 year veteran San Diego Mortgage Broker who works locally in San Diego. I look forward to helping you secure the best San Diego Mortgage Rate possible.