Mortgage rates rise
3/2/2006
Mortgage rates, which are based on Treasury yields, are already beginning to climb - the first real move in about two weeks. The culprit in this scenario: the European Central Bank, or ECB.
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 6.021 percent, up from 5.973 percent on Wednesday.
The 15-year conventional fixed-rate mortgage at 5.635 percent, up from 5.585 percent on Wednesday.
The huge increase in Treasury yields has begun to take effect. Mortgage lenders are moving rates up and that trend can be expected to continue overnight and into Friday.
Mortgage rates, which are based on Treasury yields, are already beginning to climb - the first real move in about two weeks. The culprit in this scenario: the European Central Bank, or ECB.
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 6.021 percent, up from 5.973 percent on Wednesday.
The 15-year conventional fixed-rate mortgage at 5.635 percent, up from 5.585 percent on Wednesday.
The huge increase in Treasury yields has begun to take effect. Mortgage lenders are moving rates up and that trend can be expected to continue overnight and into Friday.
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