Mortgage Rates don't get a break
10/19/2005
Although buying in the session fell short of a rally, steady interest in government debt sent Treasury prices up and yields, which move in the opposite direction of prices, down. The modest decline in yields had little effect on mortgage rates, however, as they remained near levels reached on Tuesday.
At 4 p.m. EDT, AVERAGE mortgage rates (zero discount points) based on rates collected nationwide were:
The 30-year Conventional Fixed-Rate Mortgage was at 5.873 percent from 5.886 percent at Tuesday's close.
The 15-year Conventional Fixed-Rate Mortgage was at 5.459 percent from 5.486 percent at Tuesday's close.
Due to the incremental changes in most of the Treasury yields during Wednesday's session, mortgage lenders will likely find little reason to alter rates overnight and into Thursday morning.
Although buying in the session fell short of a rally, steady interest in government debt sent Treasury prices up and yields, which move in the opposite direction of prices, down. The modest decline in yields had little effect on mortgage rates, however, as they remained near levels reached on Tuesday.
At 4 p.m. EDT, AVERAGE mortgage rates (zero discount points) based on rates collected nationwide were:
The 30-year Conventional Fixed-Rate Mortgage was at 5.873 percent from 5.886 percent at Tuesday's close.
The 15-year Conventional Fixed-Rate Mortgage was at 5.459 percent from 5.486 percent at Tuesday's close.
Due to the incremental changes in most of the Treasury yields during Wednesday's session, mortgage lenders will likely find little reason to alter rates overnight and into Thursday morning.
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