Mortgage rates stop going up, for now.

30 year fixed mortgage rates are holding their ground at 5% as the stock market rally seems to have lost its momentum a bit. The 10 year yield dipped under 3.7 today actually improving pricing at most mortgage banks. If this week continues to go as Monday and Tuesday have mortgage rates will remain low. Positive housing data for 2 consecutive days failed to spark the stock market.

Mortgage Rates are Rising Fast

The 10 year treasury yield a benchmark for 30 year fixed mortgage rates has risen dramatically over the past week. Today it's up to 3.713 and edging closer to 4 as the days go by. It's very likely banks will price their 30 year fixed mortgages around 6% if the yield reaches a level of 4. More positive data on the housing front came today as home sales posted their biggest month to month increase percentage wise in 8 years. During economic recovery the government is more likely to focus on fighting inflation than lowering mortgage rates.

Mortgage Rates Today: 30 Year Fixed Mortgage Rate Still 5%

The 10 year treasury yield rose above 3.6 yesterday yet the 30 year mortgage rate held steady at 5%. Despite a small improvement in the yield today unless there's a significant improvement this weekend lenders will raise their rates Monday morning. It's probably a good idea to lock this afternoon if you are on the west coast and able. The market rally continued today despite Microsoft reporting a drop in earnings. Optimists hope housing data released this week pointing to stabilization of the housing market will improve mortgage rates in the near future.

Mortgage Rate News: 30 Year Fixed Mortgage at or Under 5% Available

There's been reports by Fannie Mae and Bankrate.com and a handful of others detailing different 30 year fixed mortgage rates. We've checked out wholesale lenders rate sheets and found that NOW a 30 year fixed mortgage with zero buy down points is available at and below 5%. We've also found that their average rate reports tend to be a few days delayed minimum so that by the time the information reaches us it's a little outdated.

Current Jumbo Mortgage Rates

Mortgage Rates Down as Inflation is Under Control According to the FED

Mortgage rates were down today as the 10 year treasury yield, a benchmark indicator for long term mortgage rates plummeted over 3%. The yield went down as a result of Bernanke's announcement yesterday afternoon that inflation is under control for at least 2 years. Another force driving the yield down was reports that despite a private sector bailout of CIT the lender may file bankruptcy.

Mortgage Rates Today

Mortgage Rates Opened Higher but Ended the Day Down, CIT Bailed Out by Private Sector

Mortgage rates opened the day up as a result of the spike in 10 year treasury yields last week. A CIT collapse was expected to stop the stock market rally and send investors into bonds bringing mortgage rates down. Bondholders announced a 3 billion dollar bailout plan of CIT and in a unusual scenario the market rallied yet bond yields went down leading to an improvement in mortgage rates. Without a dramatic up tic in the 30 year fixed mortgage rate it's expected lenders will continue to aggressively advertise fixed mortgage at or below 5% through tomorrow.

Mortgage Rates Today

Mortgage Rates down this week / CIT Collapse Fears

Freddie Mac reported today the average 30 year fixed rate dropped to 5.16 for the week. That's the lowest level since the month of May. CIT is in big trouble and the fed says there will be no bailout. Many experts believe investors will collect profits and jump into long term bonds in the next few days sending mortgage rates even lower.

Mortgage rates today

Mortgage Rates Reverse Course on Investor Confidence

Mortgage rates fought off yesterday's stock market rally to end the day where they began at 6 week lows. Today has proved to be a little much for our low mortgage interest rates as they've given in to investor confidence. The 10 year treasury yield which is the driving force behind 30 year fixed mortgages has risen to 3.434 as of 1pm EST. It's been as low as 3.26 in recent days. Let's hope it reverses course and continues its downward trend. If the 10 year yield dips under 3% we should see the 4.5% 30 year fixed rates once again.

Mortgage Rates are being advertised on line as low as 4.375% Fixed

Who would of thought? Well we all did right? 30 year fixed mortgage rates are being advertised online as low as 4.375% with APR's just over 4.6%. We did predict this about a week ago. We hate being right all the time! Tuesday's highly successful bond auction pushed the rates down drastically. Just a warning, the slightest bit of good news could start a stock market rally and push the yield and mortgage rates back up over 5 %. Is it time to lock a rate?

Bad Unemployment Numbers Lower Mortgage Rates Further

A combination of horrible unemployment numbers and optimism on inflation are driving mortgage rates even lower as the 10 year bond yield sank to 3.5% for the first time in almost a month taking 30 year fixed mortgage rates down with it.
Mortgage Interest Rates
Jumbo Mortgage Rates

Latest Mortgage Rate News, Ed Ferrara for the LA Examiner

Check out the latest Mortgage Rate News at Ed Ferrara's Los Angeles Examiner Mortgage Market news column. He has been on the button with predicting mortgage rates of late and his latest article gives insight into the current mortgage market.

Mortgage Rates are improving to begin the week and the higher than expected job loss #'s could push them lower. The 30 year fixed rate is averaging 5.125% and can be found under 5% on many wholesale lender's ratesheets.