Mortgage Rate Summary for US Bankcorp, Chase Bank May 18, 2017

Click to see today's rates

The shorter term, popular 15 year refi fixed rate mortgage interest rates are on the books at 3.000% today with an April of 3.145%.

Adjustable rate mortgage loans accounted for 8.1% of all applications, down 0.1 percentage points compared with the prior week. Fed Fund futures, a gauge of trader sentiment, now show a lower probability that the Fed will raise rates in June.

The nationwide average for a 30-year fixed-rate refinance floated higher, but the average rate on a 15-year fixed remained steady.

The average 30-year fixed-refinance rate is 3.92 percent, up 1 basis point over the last week. The best 30 year refinance FHA FRM interest rates are being quoted at 4.375% and an April of 5.417%.

"The delayed impact of the associated decline in Treasury yields may push mortgage rates lower in next week's survey", Freddie Mac chief economist Sean Becketti said in a statement.

Bankrate's national weekly mortgage survey is conducted each Wednesday from data provided by the top 10 banks and thrifts in 10 top markets. The 10-year Treasury bond slipped near below 2.3% in overnight trading Tuesday. Because mortgage rates tend to follow the same path as long-term bonds, it is likely that rates will continue to fall in the coming week.

Several benchmark refinance rates rose today. David Kuiper, vice president of Northpointe Bank in Holland, Michigan, is one who predicts home loan rates will head lower.

30 year refinance loans at BB&T have been quoted at 4% today yielding an April of 4.083%.

Nervous investors and political uncertainty are causing some mortgage market observers to consider a new interest rate wrinkle: the possibility that the Federal Reserve may delay an expected short-term rate hike.

The drop may be due in part to higher home prices and, in turn, fewer entry-level buyers able to afford a home. ARM volume is now up 24 percent from a year ago.

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