Mortgage rates climb
3/3/2006
Steady selling in Treasuries kept the yield, which moves in the opposite direction of price, on the benchmark 10-year note at its highest levels since June 2004. This has forced mortgage lenders, who base their rates on Treasury yields, to edge them up on many popular 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 at 6.046 percent, up from 6.021 percent on Thursday.
The 15-year conventional fixed-rate mortgage at 5.647 percent, up from 5.635 percent on Thursday.
Today's increases in Treasury yields are likely to keep upward pressure on mortgage rates, which could creep higher over the weekend and into Monday.
Steady selling in Treasuries kept the yield, which moves in the opposite direction of price, on the benchmark 10-year note at its highest levels since June 2004. This has forced mortgage lenders, who base their rates on Treasury yields, to edge them up on many popular 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 at 6.046 percent, up from 6.021 percent on Thursday.
The 15-year conventional fixed-rate mortgage at 5.647 percent, up from 5.635 percent on Thursday.
Today's increases in Treasury yields are likely to keep upward pressure on mortgage rates, which could creep higher over the weekend and into Monday.
<< Home