Mortgage Rates continue north
With the exception of a couple of winning sessions, Treasury yields have made huge gains over the past seven sessions, forcing mortgage lenders to raise rates to keep pace with yield increases.
At 2:00 p.m. EST, AVERAGE mortgage rates (zero discount points) based on rates collected nationwide were:
The 30-year Conventional Fixed-Rate Mortgage was at 6.03 percent from 5.971 percent late on Monday.
The 15-year Conventional Fixed-Rate Mortgage was at 5.574 percent from 5.537 percent late on Monday.
Coming Up:
There are no economic reports slated for release on Wednesday, which will leave the financial markets to dwell on the rate increase today and the October Employment Report due out on Friday. This does not bode well for mortgage rates, as worried traders generally hold or sell rather than buy. This would leave Treasury yields at high levels and mortgage rates would match them.
At 2:00 p.m. EST, AVERAGE mortgage rates (zero discount points) based on rates collected nationwide were:
The 30-year Conventional Fixed-Rate Mortgage was at 6.03 percent from 5.971 percent late on Monday.
The 15-year Conventional Fixed-Rate Mortgage was at 5.574 percent from 5.537 percent late on Monday.
Coming Up:
There are no economic reports slated for release on Wednesday, which will leave the financial markets to dwell on the rate increase today and the October Employment Report due out on Friday. This does not bode well for mortgage rates, as worried traders generally hold or sell rather than buy. This would leave Treasury yields at high levels and mortgage rates would match them.
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