Mortgage Rates Head South
11/22/2005
Fed watchers are expecting the rate to top out at 4.5 percent or 4.75 percent (in 25 basis point increments) before the Fed calls it quits. But just a hint that the end might be near - and lack of any other news - sent Treasury yields down and mortgage rates on some products followed.
At 4 p.m. EST on Monday, AVERAGE mortgage rates (zero discount points) based on rates collected nationwide were:
The 30-year Conventional Fixed-Rate Mortgage was at 6.031 percent versus 6.036 percent on Monday.
The 15-year Conventional Fixed-Rate Mortgage was at 5.599 percent compared with 5.62 percent on Monday.
If the reports coming out Wednesday support Treasuries, mortgage rates can be expected to hold close to present levels.
Fed watchers are expecting the rate to top out at 4.5 percent or 4.75 percent (in 25 basis point increments) before the Fed calls it quits. But just a hint that the end might be near - and lack of any other news - sent Treasury yields down and mortgage rates on some products followed.
At 4 p.m. EST on Monday, AVERAGE mortgage rates (zero discount points) based on rates collected nationwide were:
The 30-year Conventional Fixed-Rate Mortgage was at 6.031 percent versus 6.036 percent on Monday.
The 15-year Conventional Fixed-Rate Mortgage was at 5.599 percent compared with 5.62 percent on Monday.
If the reports coming out Wednesday support Treasuries, mortgage rates can be expected to hold close to present levels.
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