Mortgage Rates Remain High
11/14/2005
Vigorous selling on Monday sent Treasury prices down and their yields, which move in the opposite direction of prices, up even further. Higher yields, which lenders use as a guide to set mortgage rates, influenced them to edge rates up on some products.
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 6.128 percent versus 6.103 percent late on Friday.
The 15-year Conventional Fixed-Rate Mortgage was at 5.676 percent compared with 5.648 percent late on Friday.
Low numbers should limit selling in Treasuries, but concerns about inflation will continue to flourish until all the economic data this week are known. And the sizable gains in Treasury yields today will force mortgage lenders to keep rates at elevated levels.
Vigorous selling on Monday sent Treasury prices down and their yields, which move in the opposite direction of prices, up even further. Higher yields, which lenders use as a guide to set mortgage rates, influenced them to edge rates up on some products.
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 6.128 percent versus 6.103 percent late on Friday.
The 15-year Conventional Fixed-Rate Mortgage was at 5.676 percent compared with 5.648 percent late on Friday.
Low numbers should limit selling in Treasuries, but concerns about inflation will continue to flourish until all the economic data this week are known. And the sizable gains in Treasury yields today will force mortgage lenders to keep rates at elevated levels.
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