Mortgage rates dip

1/18/2006

Due to the sharp declines in yields over the previous three sessions, however, mortgage rates, which move in sync with yields, have continued to edge down.

In a separate report, the Mortgage Bankers Association said applications to refinance swelled again for the week ended Jan. 13. Refis rose 9.9 percent for the second consecutive week. Purchase applications reversed course, however, falling 3 percent.

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

The 30-year conventional fixed-rate mortgage was at 5.858 percent, from 5.89 percent on Tuesday.

The 15-year conventional fixed-rate mortgage was at 5.421 percent versus 5.431 percent, on Tuesday.

Treasury yields closed flat on Wednesday, which should leave mortgage rates holding close to present levels.

Mortgage rates stay lower

1/17/06

Yields, which move in the opposite direction of prices, fell. The decline in yields, which lenders use as a guide to set mortgage rates, allowed them to remain near recent low levels.

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

The 30-year conventional fixed-rate mortgage at 5.89 percent, from 5.909 percent on Friday.

The 15-year conventional fixed-rate mortgage at 5.431 percent versus 5.448 percent, on Friday.

Overnight and into Wednesday, however, mortgage rates should remain at lower levels due to the decline in yields during Wednesday's session.