Rates Down In Afternoon Trading

Bonds are up today and mortgage rates are trending downward in afternoon trading. Expect rates to improve by approximately .25 to price. The economic news this morning was neither positive or negative to mortgage rates. February's Personal Income & Outlays report showed that income rose last month in excess of the forecast, which is bad news for mortgage rates. On the other hand, University of Michigan's Consumer Sentiment Index for March fell more than expected, which is good news for mortgage rates.

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Mortgage Rates Decline, but...

Mortgage rates continue to show slight declines, but look at it as a temporary trend or if you are a borrower a fleeting opportunity.

Mortgage Rates Stagnate

Mortgage rates continued to hold steady yesterday despite the expected report of steep declines in housing starts.

Housing Starts Today

Expect a brief early trading panic as housing starts are expected to be off on a 10% decline--returning to little or no change for the day.

Mortgage Rates Expected to Remain Quite

With a light week of economic reports expect a quite week in mortgage rates.

Expect Little Change in Mortgage Rates

A day full of economic reports, but little news expected that is not already priced into the mortgage rate market.

30 Year Mortgage Rate Remains Flat

Freddie Mac reports the average 30-yr mortgage rate was flat 6.52% for the 3rd week, in the latest report while the 15-yrs dropped to 6.07% from 6.10% and the average 1-yr adjustable rate dropped to 5.18% from 5.22% (Reuters)

Bonds Down and Stocks Down Today

Bonds were down Monday despite stock market losses. Rates should however improve today on strength in bonds from last Friday afternoon. Improvement should be no more than .125 to price.

Fed Holds Rates Unchanged at Conclusion of FOMC Meeting

The Fed held rates steady at the conclusion of its meeting today, citing in a post meeting statement that although the economy has slowed, the threat of inflation remains.

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National Rates

Loan Type Today
30 Year Fixed   6.20
15 Year Fixed   5.83
5/1 Adjustable   5.76

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