Mortgage Rates Today improved .25%. Research of wholesale mortgage lender's rate sheets shows 30 year fixed rates as low as 5% with zero buy down points available today. Benchmark 10 year treasury yields improved to 3.771 after a decline steadily throughout the afternoon. Bond yields continue to drive mortgage rates. These rate movements apply to Conforming, Conforming Jumbo, and FHA Loans.
For the rest of the week the Fed will auction huge amounts of Treasury bonds. If demand is high as expected the auctions may send mortgage rates even lower. High demand is expected as bond prices are low after posting the biggest one week decrease since 2003. That decrease caused the biggest one week spike since 2003 in the Treasury yield and as a result we saw mortgage rates spike from 4.75% on a 30 year fixed mortgage to 5.25%. The average mortgage rate for a 30 year fixed was reported as high as 5.5% last week.
For the rest of the week the Fed will auction huge amounts of Treasury bonds. If demand is high as expected the auctions may send mortgage rates even lower. High demand is expected as bond prices are low after posting the biggest one week decrease since 2003. That decrease caused the biggest one week spike since 2003 in the Treasury yield and as a result we saw mortgage rates spike from 4.75% on a 30 year fixed mortgage to 5.25%. The average mortgage rate for a 30 year fixed was reported as high as 5.5% last week.
1 comments:
The Mortgage sector is running into losses.People who have already taken the Mortgage Loan are not able to pay the due payments and installments on time due to financial crises and this has impacted hugely to the Mortgage Loan issuer. The existing mortgage loans rate has varied a lot. To know more in detail refer lower mortgage rates
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