Mortgage continue up

2/2/2006

The steep increase in yields during the week has influenced mortgage lenders, who base their rates on Treasury yields, to edge rates up on a number of products.

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 6 percent, up from 5.975 percent on Wednesday.

The 15-year conventional fixed-rate mortgage was at 5.568 percent, up from 5.511 percent on Wednesday.

If employment numbers are strong, Treasuries may sell on inflation concerns. But if they come in below estimates -- like they did for December -- a rally could ensue, resulting in lower mortgage rates on some products.

Mortgage rates edging up

2/1/2006

The rise in yields, which lenders use to set mortgage rates, has begun to push rates up slightly.

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 5.975 percent, up from 5.951 percent on Tuesday.

The 15-year conventional fixed-rate mortgage was at 5.511 percent, up from 5.498 percent on Tuesday.

Today's substantial increase in Treasury yields will likely force mortgage lenders to raise rates on many popular programs.

Mortgage rates to rise

Week of 1/29/2006

Mortgage lenders, who base rates on Treasury yields, have therefore been forced to begin raising rates.

Demand for mortgages continued to grow during the week ended Jan. 21. According to the Mortgage Bankers Associa-tion, applications to refinance posted a big increase, climbing 7.9 percent, while purchase applications rebounded, rising 6.7 percent. The rate on the 30-year fixed-rate mortgage (based on zero discount points) is now well above 5.875 percent, while the 15-year fixed-rate mortgage is nearing 5.5 percent. The rate on the volatile one-year adjustable-rate mortgage is holding at 4.125 percent.

If the Fed indicates it is almost finished with rate hikes, a rally could send mortgage rates back down.

Mortgage rates flat

1/27/2006

Mortgage lenders, hold rates near previous 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 was at 5.945 percent, up from 5.943 percent on Thursday.

The 15-year conventional fixed-rate mortgage was at 5.499 percent versus 5.51 percent on Thursday.

With Treasury yields holding near previous levels, it is likely that over the weekend and into Monday mortgage lenders will be able leave their rates unchanged.