Mortgage Rates Head South

11/22/2005

Fed watchers are expecting the rate to top out at 4.5 percent or 4.75 percent (in 25 basis point increments) before the Fed calls it quits. But just a hint that the end might be near - and lack of any other news - sent Treasury yields down and mortgage rates on some products followed.

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 6.031 percent versus 6.036 percent on Monday.

The 15-year Conventional Fixed-Rate Mortgage was at 5.599 percent compared with 5.62 percent on Monday.

If the reports coming out Wednesday support Treasuries, mortgage rates can be expected to hold close to present levels.

Mortgage Rates Wobble

The two-day seesaw movement in Treasuries kept lenders from making big adjustments in rates on key mortgage products, which diverged slightly as rates in the longer end softened while rates for shorter maturities firmed.

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 6.036 percent versus 6.038 percent on Friday.

The 15-year Conventional Fixed-Rate Mortgage was at 5.62 percent compared to 5.606 percent on Friday.

Given the paucity of fresh economic data during a short trading week, mortgage lenders might find little reason to change rates much overnight into Tuesday.

Mortgage Rates Hold

11/18/2005

Treasuries gave back yesterday's gains plus a little extra. The effect on mortgage rates, however, was negligible, as lenders are holding them a tad below yesterday's levels.

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 6.038 percent versus 6.053 percent on Thursday.

The 15-year Conventional Fixed-Rate Mortgage was at 5.606 percent compared with 5.631 percent on Thursday.

Today's rebound in yields from Thursday's lows will likely influence mortgage lenders to hold rates near present levels over the weekend and into Monday.