Mortgage Rates Hold at Current Levels
11/28/2005
The yield on the benchmark 10-year note closed at its lowest level since Oct. 11. The decline in yields, however, did not affect mortgage rates, which held near previous levels.
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 5.979 percent versus 6.022 percent on Friday.
The 15-year Conventional Fixed-Rate Mortgage was at 5.564 percent compared with 5.595 percent on Friday.
If reports on durables and confidence are strong, this could hurt Treasuries and send yields back up. If, however, the indicators come in on target, Treasury yields and mortgage rates should stay close to present levels.
The yield on the benchmark 10-year note closed at its lowest level since Oct. 11. The decline in yields, however, did not affect mortgage rates, which held near previous levels.
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 5.979 percent versus 6.022 percent on Friday.
The 15-year Conventional Fixed-Rate Mortgage was at 5.564 percent compared with 5.595 percent on Friday.
If reports on durables and confidence are strong, this could hurt Treasuries and send yields back up. If, however, the indicators come in on target, Treasury yields and mortgage rates should stay close to present levels.
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