Mortgage Rates Hold
The bond markets closed early prior to the three-day weekend, and final numbers were little changed from those of yesterday. This left mortgage rates at Thursday's levels.
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 5.747 percent from 5.739 percent at Thursday's close.
The 15-year Conventional Fixed-Rate Mortgage was at 5.343 percent from 5.337 percent at Thursday's close.
Coming Up:
There are a number of influential reports slated for the week of October 10, but they won't be released until the end of the week, which leaves the equity markets to reflect on the employment report, rate hikes and inflation concerns. They won't even have Treasuries to look at, as the bond markets are closed Monday to observe Columbus Day. The minutes of the Sept. 20 meeting of the Fed are due Tuesday and could sway the markets, but key reports such as Retail Sales and the Consumer Price Index for September, which looks for inflation at the retail level, won't be out until Friday.
Because Treasury yields held their ground today and bonds won't trade again until Tuesday, it is likely that mortgage rates, which are based on yields, will hold fairly steady over the weekend and into Monday.
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 5.747 percent from 5.739 percent at Thursday's close.
The 15-year Conventional Fixed-Rate Mortgage was at 5.343 percent from 5.337 percent at Thursday's close.
Coming Up:
There are a number of influential reports slated for the week of October 10, but they won't be released until the end of the week, which leaves the equity markets to reflect on the employment report, rate hikes and inflation concerns. They won't even have Treasuries to look at, as the bond markets are closed Monday to observe Columbus Day. The minutes of the Sept. 20 meeting of the Fed are due Tuesday and could sway the markets, but key reports such as Retail Sales and the Consumer Price Index for September, which looks for inflation at the retail level, won't be out until Friday.
Because Treasury yields held their ground today and bonds won't trade again until Tuesday, it is likely that mortgage rates, which are based on yields, will hold fairly steady over the weekend and into Monday.
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