Current mortgage rates are stable as the 10 year treasury yield rose slightly today. Our research showed this morning lenders were offering as low as 4.875% for a 30 year fixed conforming mortgage. This afternoon that rate was unchanged.
FHA loan rates also remain under 5% as they follow the 10 year treasury yield as well.
Data released today shows for the fifth month in a row new housing starts increased. This does not effect mortgage rates directly.
Also, less than a week ago the Fed announced they'll leave their key lending rate near zero for quite some time. Contrary to popular belief the fed lending rate does not directly influence fixed mortgage rates.
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