Some Mortgage Rates Down

11/17/2005

Prices on Treasuries climbed and their yields, which move in the opposite direction of prices, edged down. In response, mortgage lenders who use yields as a guide to set rates were able to lower them on some products.

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

The 30-year Conventional Fixed-Rate Mortgage was at 6.053 percent versus 6.099 percent on Wednesday.

The 15-year Conventional Fixed-Rate Mortgage was at 5.631 percent compared with 5.665 percent on Wednesday.

The calendar of economic reports is blank for Friday, which will leave the financial markets to rely on corporate news and events for guidance. If no major deterrents crop up buying could continue, although the pace may be slower. This would allow mortgage lenders to hold rates steady and even edge them down on some products.

Treasuries Rally

11/15/2005

Yields, which lenders use as a guide to set mortgage rates, did tick down, the move was not substantial enough to affect rates in any meaningful way.

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

The 30-year Conventional Fixed-Rate Mortgage was at 6.118 percent versus 6.128 percent on Monday.

The 15-year Conventional Fixed-Rate Mortgage was at 5.660 percent compared with 5.676 percent on Monday.

If the CPI is tame Treasuries could extend today's rally and send yields even lower. But signs of inflation could push them back up. Unless there is strong movement one way or another, mortgage rates are likely to hold near present levels.

Mortgage Rates Remain High

11/14/2005

Vigorous selling on Monday sent Treasury prices down and their yields, which move in the opposite direction of prices, up even further. Higher yields, which lenders use as a guide to set mortgage rates, influenced them to edge rates up on some products.

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

The 30-year Conventional Fixed-Rate Mortgage was at 6.128 percent versus 6.103 percent late on Friday.

The 15-year Conventional Fixed-Rate Mortgage was at 5.676 percent compared with 5.648 percent late on Friday.

Low numbers should limit selling in Treasuries, but concerns about inflation will continue to flourish until all the economic data this week are known. And the sizable gains in Treasury yields today will force mortgage lenders to keep rates at elevated levels.

Mortgage Rates Barely Ease

11/11 2005

Rates on key mortgage products appeared to have eased slightly on Friday during a holiday-thinned session when the U.S. government bond market and federal offices were shut for Veterans Day.

At 1 p.m. EST on Friday, AVERAGE mortgage rates (zero discount points) based on rates collected nationwide were:

The 30-year Conventional Fixed-Rate Mortgage was at 6.103 percent versus 6.123 percent late on Thursday.

The 15-year Conventional Fixed-Rate Mortgage was at 5.648 percent compared with 5.675 percent late on Thursday.

Over the weekend and after Friday's government holiday, mortgage rates likely will stay stable as lenders wait to see whether Treasuries can build on Thursday's price rally.