Mortgage Rates Edge Up
12/1/2005
Traders opted not to take chances, and Treasury prices plunged. This drove yields, which move in the opposite direction of prices, back up to levels reached in mid-November and allowed mortgage lenders who base their rates on yields to edge them up on some products.
At 4 p.m. EST on Thursday, AVERAGE mortgage rates (zero discount points) based on rates collected nationwide were:
The 30-year Conventional Fixed-Rate Mortgage was at 6.031 percent from 6.014 percent on Wednesday.
The 15-year Conventional Fixed-Rate Mortgage was at 5.598 percent versus 5.586 percent on Wednesday.
Mortgage lenders might find room to firm rates on key products a bit more after Thursday's nudge higher in Treasury yields although they are unlikely to push rates sharply in either direction heading into Friday's jobs data.
Traders opted not to take chances, and Treasury prices plunged. This drove yields, which move in the opposite direction of prices, back up to levels reached in mid-November and allowed mortgage lenders who base their rates on yields to edge them up on some products.
At 4 p.m. EST on Thursday, AVERAGE mortgage rates (zero discount points) based on rates collected nationwide were:
The 30-year Conventional Fixed-Rate Mortgage was at 6.031 percent from 6.014 percent on Wednesday.
The 15-year Conventional Fixed-Rate Mortgage was at 5.598 percent versus 5.586 percent on Wednesday.
Mortgage lenders might find room to firm rates on key products a bit more after Thursday's nudge higher in Treasury yields although they are unlikely to push rates sharply in either direction heading into Friday's jobs data.
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