Mortgage rates move lower
1/23/2006
Mortgage rates crept down over the weekend due to multiple rallies in U.S. Treasury securities last week. Mortgage lenders who base their rates on yields were able to hold rates at lower levels.
At 4 p.m. EST, average mortgage rates (zero discount points) based on rates collected nationwide were:
The 30-year conventional fixed-rate mortgage was at 5.856 percent, from 5.867 percent on Friday.
The 15-year conventional fixed-rate mortgage was at 5.428 percent versus 5.445 percent on Friday.
If there is little economic news and the Treasury auctions go well, trading in bonds could remain subdued until Thursday when durable goods orders are released. If this is the case, mortgage rates would hold near present low levels.
Mortgage rates crept down over the weekend due to multiple rallies in U.S. Treasury securities last week. Mortgage lenders who base their rates on yields were able to hold rates at lower levels.
At 4 p.m. EST, average mortgage rates (zero discount points) based on rates collected nationwide were:
The 30-year conventional fixed-rate mortgage was at 5.856 percent, from 5.867 percent on Friday.
The 15-year conventional fixed-rate mortgage was at 5.428 percent versus 5.445 percent on Friday.
If there is little economic news and the Treasury auctions go well, trading in bonds could remain subdued until Thursday when durable goods orders are released. If this is the case, mortgage rates would hold near present low levels.
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