Mortgage Rates Hold
11/29/2005
Strong selling across the board saw Treasuries give up Monday's gains and then some, with yields, which move in the opposite direction of prices, hitting their highest levels in several days. The yields, which are used as a guide to set mortgage rates, had little influence today, however, as rates had not yet responded to Monday's decline.
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 5.993 percent from 5.979 percent on Monday.
The 15-year Conventional Fixed-Rate Mortgage was at 5.561 compared to 5.564 on Monday.
After Tuesday's rise in Treasury yields, mortgage lenders might see room to nudge rates upward on some key mortgage products heading into Wednesday's economic data.
Strong selling across the board saw Treasuries give up Monday's gains and then some, with yields, which move in the opposite direction of prices, hitting their highest levels in several days. The yields, which are used as a guide to set mortgage rates, had little influence today, however, as rates had not yet responded to Monday's decline.
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 5.993 percent from 5.979 percent on Monday.
The 15-year Conventional Fixed-Rate Mortgage was at 5.561 compared to 5.564 on Monday.
After Tuesday's rise in Treasury yields, mortgage lenders might see room to nudge rates upward on some key mortgage products heading into Wednesday's economic data.
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