Mortgage Rates Stick

Mortgage lenders who base their rates on Treasury yields were beginning to lower rates after the post-Fed rally, but it now looks like rates are trending up again.

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 6.01 percent versus 6.015 percent on Wednesday.

The 15-year Conventional Fixed-Rate Mortgage was at 5.584 percent from 5.571 percent on Wednesday.

Given Thursday's firming in Treasury yields after recent hefty declines, mortgage lenders might follow suit and nudge rates slightly higher on key mortgage products overnight.

Treasury Yields Slide

12/14/2005

The steep drop in Treasury yields finally spurred mortgage lenders to lower rates on some mortgage products as well.

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 6.015 percent versus 6.058 percent on Tuesday.

The 15-year Conventional Fixed-Rate Mortgage was at 5.571 percent from 5.616 percent on Tuesday.

Given the further decline in Treasury yields on Tuesday, mortgage lenders may find a bit more downside room to adjust rates on major mortgage products overnight.

Treasury Yields Fall

12/13/2005

The Treasury market move, however, had little immediate effect on mortgage product rates.

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

The 30-year Conventional Fixed-Rate Mortgage was at 6.057 percent from 6.058 percent on Monday.

The 15-year Conventional Fixed-Rate Mortgage was at 5.637 percent from 5.616 percent on Monday.

Given the decline in Treasury yields on Tuesday, mortgage lenders may see room to adjust rates slightly lower overnight on key products.

Mortgage Rates Steady

12/12/2005

Treasury prices fell slightly on Monday, sending yields, which move in the opposite direction of prices, up a couple of basis points. The increase, however, was not strong enough to influence mortgage lenders to change their rates.

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 6.058 percent from 6.033 percent on Friday.

The 15-year Conventional Fixed-Rate Mortgage was at 5.616 percent from 5.613 percent on Friday.

Overnight and into Tuesday mortgage rates should hold firm due to the relative steadiness in the markets today. However, the 30-year fixed-rate could creep up as it is at the brink of the next level. Rates on other products are more centered and likely to hold.

Mortgage Rates Hold

12/9/2005

Thursday's rally-inspired drop in yields was short-lived, so the effect on mortgage rates was minimal. Lenders have held rates within a narrow range for the past two weeks.

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 6.033 percent from 6.047 percent on Thursday.

The 15-year Conventional Fixed-Rate Mortgage was at 5.613 percent from 5.616 percent on Thursday.

Over the weekend and into Monday mortgage rates are likely to hold steady, or even creep up a tad, after the surge in Treasury yields on Friday.