Mortgage Rates Unchanged

12/8/2005

Yields, which move in the opposite direction of prices, fell to their lowest levels in the last nine sessions, but the decline has not yet influenced mortgage lenders to alter rates, which remain at Wednesday's levels.

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

The 30-year Conventional Fixed-Rate Mortgage was at 6.047 percent, unchanged from 6.047 percent on Wednesday.

The 15-year Conventional Fixed-Rate Mortgage was at 5.616 percent from 5.61 percent on Wednesday.

Focus will continue to rivet on the outcome of Tuesday's Federal Open Market Committee meeting. But given the day's decline in Treasury rates, lenders might see some room to adjust rates on key product toward the downside into Friday.

Mortgage Rates Hold

Treasuries prices fell, sending yields, which move in the opposite direction of prices, up. Some mortgage rates, which are based on Treasury yields, edged down a tick or two in response to Tuesday's rally, but most remain near previous levels.

The Mortgage Bankers Association reported a resurgence in mortgage applications for the week ended Dec. 2. Purchase applications rose 4 percent from the previous week, while refis were up a solid 7.6 percent - accounting for 41 percent of all applications.

At 4 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 6.047 percent from 6.086 percent on Tuesday.

The 15-year Conventional Fixed-Rate Mortgage was at 5.61 percent from 5.638 percent on Tuesday.

The rise in Treasury yields today could influence mortgage lenders to edge rates back up to previous levels. And if concern about the upcoming Fed meeting persists, as it surely will, yields will likely remain high, as will mortgage rates.

Mortgage Rates FIRM

12/5/2005

Prices of Treasuries fell today and their yields, which move in the opposite direction of prices, made significant steps upward. Today's increase, however, has not been reflected in mortgage rates, which are slightly up from Friday's levels.

At 4 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 6.077 percent from 6.094 percent on Friday.

The 15-year Conventional Fixed-Rate Mortgage was at 5.643 percent from 5.639 percent on Friday.

Although Treasury yields climbed on Monday and mortgage lenders might be inclined to edge rates up, it is unlikely that the increases would be strong enough to push rates to the next level.

Mortgage Rates Move Higher

12/2/2005

Although yields closed unchanged when it was all over, they rose during the previous three sessions, putting upward pressure on mortgage rates. As a result, rates have edged up on most mortgage products.

At 4 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 6.094 percent from 6.031 percent on Thursday.

The 15-year Conventional Fixed-Rate Mortgage was at 5.639 percent from 5.598 percent on Thursday.

Given the lack of movement in Treasury rates on Friday, mortgage lenders might see little reason to move rates on key products much over the weekend.