30-Year Fixed Mortgage Hits 15-Month High
10/14/2005
The omni-present fear of inflation, which erodes the value of bonds, was again at the core of the sell-off. Weeklong increases in Treasury yields, which are used as a guide to set mortgage rates, forced lenders to raise rates to 15-month highs.
At 4 p.m. EDT, AVERAGE mortgage rates (zero discount points) based on rates collected nationwide were:
The 30-year Conventional Fixed-Rate Mortgage rose to 5.855 percent from 5.817 percent at Thursday's close.
The 15-year Conventional Fixed-Rate Mortgage climbed to 5.462 percent from 5.417 percent at Thursday's close.
After this week's big upside moves, rates on key mortgage instruments could remain firm as lenders continue to adjust products to market conditions.
The omni-present fear of inflation, which erodes the value of bonds, was again at the core of the sell-off. Weeklong increases in Treasury yields, which are used as a guide to set mortgage rates, forced lenders to raise rates to 15-month highs.
At 4 p.m. EDT, AVERAGE mortgage rates (zero discount points) based on rates collected nationwide were:
The 30-year Conventional Fixed-Rate Mortgage rose to 5.855 percent from 5.817 percent at Thursday's close.
The 15-year Conventional Fixed-Rate Mortgage climbed to 5.462 percent from 5.417 percent at Thursday's close.
After this week's big upside moves, rates on key mortgage instruments could remain firm as lenders continue to adjust products to market conditions.
<< Home