Mortgage rates begin to edge down - Daily Mortgage

3/16/2006

A weak read on housing starts and an unexpected rise in unemployment claims only added to the theory that inflation expectations are fading. As a result, mortgage rates, which are based on Treasury yields, have begun to edge down.

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 6.11 percent, down from 6.128 percent on Wednesday.

The 15-year conventional fixed-rate mortgage at 5.735 percent, down from 5.738 percent on Wednesday.

Due to the significant drop in Treasury yields today, lenders should be able to begin lowering rates overnight and into Friday morning.

mortgage rates hold

3/14/2006

Steady buying in Treasuries sent prices up and their yields, which move in the opposite direction of prices, down. The yield on the benchmark 10-year note closed at 4.7 percent - its lowest in 10 days. The dip in yields, which are used to set rates, has not yet affected mortgage rates, which are holding near Monday's 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 6.123 percent, down from 6.153 percent on Monday.

The 15-year conventional fixed-rate mortgage was at 5.742 percent, down from 5.751 percent on Monday.

Mortgage rates could tip down a few basis points overnight and into Wednesday, due to today's big slide in yields. It is unlikely, however, that they would move down enough to make much of a difference in actual rates.

Mortgage rates remain high

3/10/2006

With yields at their highest levels since May 2004, lenders, who base their rates on yields, were forced to keep mortgage rates at present high 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 6.109 percent, down from 6.126 percent on Thursday.

The 15-year conventional fixed-rate mortgage was at 5.751 percent, up from 5.743 percent on Thursday.

There are no releases scheduled for Monday, which will leave the markets to carry on from Friday or look elsewhere for guidance. Over the weekend and into Monday, mortgage rates should hold near present levels due to minor increases in Treasury yields.