Mortgage rates begin to rise
3/21/2006
Treasuries rallied yesterday, sending yields down, and mortgage rates, which are based on yields, edged down accordingly. But when Treasuries sold off today, their yields, which move in the opposite direction of price, rose, and mortgage rates began to climb back up.
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 6.114 percent, up from 6.1 percent on Monday.
The 15-year conventional fixed-rate mortgage was at 5.73 percent, up from 5.71 percent on Monday.
Mortgage rates will continue to edge up thanks to the steep increase in Treasury yields today.
Treasuries rallied yesterday, sending yields down, and mortgage rates, which are based on yields, edged down accordingly. But when Treasuries sold off today, their yields, which move in the opposite direction of price, rose, and mortgage rates began to climb back up.
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 6.114 percent, up from 6.1 percent on Monday.
The 15-year conventional fixed-rate mortgage was at 5.73 percent, up from 5.71 percent on Monday.
Mortgage rates will continue to edge up thanks to the steep increase in Treasury yields today.
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