Mortgage rates to climb
1/25/2006
The yield on the benchmark 10-year note climbed 8 basis points in today's session. The increase in yields, which mortgage lenders use as a guide to set rates, has yet to affect mortgage rates, which are holding near Tuesday's 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 5.89 percent, up from 5.885 percent on Tuesday.
The 15-year conventional fixed-rate mortgage was at 5.43 percent versus 5.436 percent on Tuesday.
Due to the steep increase in Treasury yields on Wednesday, it is likely that mortgage lenders will be forced to begin edging rates up overnight and into tomorrow.
The yield on the benchmark 10-year note climbed 8 basis points in today's session. The increase in yields, which mortgage lenders use as a guide to set rates, has yet to affect mortgage rates, which are holding near Tuesday's 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 5.89 percent, up from 5.885 percent on Tuesday.
The 15-year conventional fixed-rate mortgage was at 5.43 percent versus 5.436 percent on Tuesday.
Due to the steep increase in Treasury yields on Wednesday, it is likely that mortgage lenders will be forced to begin edging rates up overnight and into tomorrow.
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