Mortgage Rates Down

Mortgage rates continue to improve on better economic data. Yesterday the stock market seemed to steady a bit after a record-breaking rally. This seemed to renew some confidence for the prospective recovery of the economy sooner than later. Retail sales, which beat expectations also returned some pricing confidence to the bond market. We are certainly not out of the woods yet, but mortgage rates should lose some of their volatility through the rest of the week. This will put borrowers in a good position to capture a low rate mortgage refinance.

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National Rates

Loan Type Today +/-
30 yr fixed 3.80
15 yr fixed 3.10
5/1 ARM 2.73

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