Mortgage Rates Hold
11/2/2005
The yield on the benchmark 10-year note, which is used as a guide to set mortgage rates, hit 4.6 percent and mortgage rates, which usually move in sync with yields, remained at their highest levels since June 2004.
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 6.039 percent from 6.03 percent on Tuesday.
The 15-year Conventional Fixed-Rate Mortgage was at 5.597 percent from 5.574 percent on Tuesday.
Thursday features a number of economic reports including third-quarter Productivity and Costs, Factory Orders for September, first-time jobless claims for the week ended October 29 and the ISM report on service sector conditions for October.
These reports are unlikely to impact Treasuries in any significant way, and caution about the jobs report could take center stage. This will likely mean that Treasury yields and therefore mortgage rates will remain high.
The yield on the benchmark 10-year note, which is used as a guide to set mortgage rates, hit 4.6 percent and mortgage rates, which usually move in sync with yields, remained at their highest levels since June 2004.
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 6.039 percent from 6.03 percent on Tuesday.
The 15-year Conventional Fixed-Rate Mortgage was at 5.597 percent from 5.574 percent on Tuesday.
Thursday features a number of economic reports including third-quarter Productivity and Costs, Factory Orders for September, first-time jobless claims for the week ended October 29 and the ISM report on service sector conditions for October.
These reports are unlikely to impact Treasuries in any significant way, and caution about the jobs report could take center stage. This will likely mean that Treasury yields and therefore mortgage rates will remain high.
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