Mortgage Rates Resist Decline

Rates on key mortgage products proved resistant to the Treasury price rally and returned to elevated levels posted earlier in the week.

At 4:00 p.m. EST, AVERAGE mortgage rates (zero discount points) based on rates collected nationwide were:

The 30-year Conventional Fixed-Rate Mortgage was at 6.123 percent versus 6.105 percent on Wednesday.

The 15-year Conventional Fixed-Rate Mortgage was at 5.675 percent from 5.643 percent on Wednesday.

The pause in bond market trading on Friday for a long weekend might give lenders enough leeway to begin to adjust rates on key products downward after Thursday's Treasury rally had little immediate impact on mortgage rates.

Mortgage Rates Lag

11/9/2005

The rise in Treasury yields, however, sparked little immediate response in key mortgage products, which instead nosed slightly downward as products adjusted after Tuesday's slippage in Treasury yields.

At 4:00 p.m. EST, AVERAGE mortgage rates (zero discount points) based on rates collected nationwide were:

The 30-year Conventional Fixed-Rate Mortgage was at 6.105 percent versus 6.125 percent on Tuesday.

The 15-year Conventional Fixed-Rate Mortgage was at 5.643 percent against 5.671 percent on Tuesday.

In light of the renewed rise in Treasury yields on Wednesday, lenders might see room to adjust rates upward overnight on key mortgage products.

Mortgage Rates Firm

11/8/2005

Prices of U.S. Treasury securities increased again on Tuesday, and yields declined, but rates on many key mortgage products paid the Treasury move little immediate heed and stayed perched at elevated levels by day's end.

At 4:00 p.m. EST, AVERAGE mortgage rates (zero discount points) based on rates collected nationwide were:

The 30-year Conventional Fixed-Rate Mortgage was at 6.125 percent versus 6.095 percent on Monday.

The 15-year Conventional Fixed-Rate Mortgage was at 5.671 percent against 5.661 percent on Monday.

After Tuesday's decline in Treasury yields, mortgage lenders might see leeway to begin adjusting rates slightly lower on key mortgage products heading into Wednesday.

Mortgage Rates Edge Off Slightly

Yields, which move in the opposite direction of prices, managed to edge off from recent peaks, allowing rates on key mortgage products to ease very slightly as well.

At 4:00 p.m. EST, AVERAGE mortgage rates (zero discount points) based on rates collected nationwide were:

The 30-year Conventional Fixed-Rate Mortgage was at 6.095 percent versus 6.105 percent on Friday.

The 15-year Conventional Fixed-Rate Mortgage was at 5.661 percent from 5.666 percent on Friday.

After Monday's slight easing in yields and rates, mortgage lenders overnight might see little reason to alter rates on most mortgage products, given the dearth of fresh market-moving data.