mortgage rates hold
3/14/2006
Steady buying in Treasuries sent prices up and their yields, which move in the opposite direction of prices, down. The yield on the benchmark 10-year note closed at 4.7 percent - its lowest in 10 days. The dip in yields, which are used to set rates, has not yet affected mortgage rates, which are holding near Monday'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 6.123 percent, down from 6.153 percent on Monday.
The 15-year conventional fixed-rate mortgage was at 5.742 percent, down from 5.751 percent on Monday.
Mortgage rates could tip down a few basis points overnight and into Wednesday, due to today's big slide in yields. It is unlikely, however, that they would move down enough to make much of a difference in actual rates.
Steady buying in Treasuries sent prices up and their yields, which move in the opposite direction of prices, down. The yield on the benchmark 10-year note closed at 4.7 percent - its lowest in 10 days. The dip in yields, which are used to set rates, has not yet affected mortgage rates, which are holding near Monday'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 6.123 percent, down from 6.153 percent on Monday.
The 15-year conventional fixed-rate mortgage was at 5.742 percent, down from 5.751 percent on Monday.
Mortgage rates could tip down a few basis points overnight and into Wednesday, due to today's big slide in yields. It is unlikely, however, that they would move down enough to make much of a difference in actual rates.
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