Mortgage rates edge up

2/16/2006

The relative stability of Treasury yields allowed lenders to hold mortgage rates steady during the day, but rates on a few popular products edged up late yesterday and overnight.

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 6.036 percent, down from 6.039 percent on Wednesday.

The 15-year conventional fixed-rate mortgage was at 5.633 percent, up from 5.614 percent on Wednesday.

Mortgage rates are likely to remain near present levels due to the stability of Treasury yields on Thursday.

Mortgage rates head north

2/14/2006

Prices of Treasuries plunged and their yields, which move in the opposite direction of prices, soared, with the yield on the benchmark 10-year note closing at 4.61 percent - its first venture above 4.6 percent since mid-November. In response, mortgage rates, which follow Treasury yields, headed upward.

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 6.052 percent, up from 6.028 percent on Monday.

The 15-year conventional fixed-rate mortgage was at 5.62 percent, up from 5.607 percent on Monday.

Due to Tuesday's steep climb in Treasury yields, it is likely that mortgage lenders will be forced to increase rates on a number of mortgage products.

Mortgage rates on hold

2/13/2006

This left Treasury yields, which move in the opposite direction of prices, close to those of Friday. This allowed mortgage rates, which are based on Treasury yields, to hold steady.

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 6.028 percent, up from 5.985 percent on Friday.

The 15-year conventional fixed-rate mortgage was at 5.607 percent, up from 5.577 percent on Friday.

The relative stability of Treasury yields on Monday should result in mortgage rates remaining steady into Tuesday morning.

Mortgage rates steady

2/10/2006

The rebound in yields kept mortgage rates, which are based on yields, 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 5.985 percent, down from 6.005 percent on Thursday.

The 15-year conventional fixed-rate mortgage was at 5.577 percent, down from 5.58 percent on Thursday.

Over the weekend and into Monday, however, mortgage rates should hold near present levels.