Mortgage continue up
2/2/2006
The steep increase in yields during the week has influenced mortgage lenders, who base their rates on Treasury yields, to edge rates up on a number of products.
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 6 percent, up from 5.975 percent on Wednesday.
The 15-year conventional fixed-rate mortgage was at 5.568 percent, up from 5.511 percent on Wednesday.
If employment numbers are strong, Treasuries may sell on inflation concerns. But if they come in below estimates -- like they did for December -- a rally could ensue, resulting in lower mortgage rates on some products.
The steep increase in yields during the week has influenced mortgage lenders, who base their rates on Treasury yields, to edge rates up on a number of products.
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 6 percent, up from 5.975 percent on Wednesday.
The 15-year conventional fixed-rate mortgage was at 5.568 percent, up from 5.511 percent on Wednesday.
If employment numbers are strong, Treasuries may sell on inflation concerns. But if they come in below estimates -- like they did for December -- a rally could ensue, resulting in lower mortgage rates on some products.
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