Mortgage Rates Continue To Rise

Rates continued to rise today on stronger than expected economic news. Expect rates to increase by .25 of a discount point over yesterday. April Durable Goods Orders were released today showing much less of a decline in orders than had been expected. This unexpected strong showing is bad for bonds and mortgage rates. Tomorrow the only economic news will be the 1Q revision to the GDP. This data usually does not have much impact on mortgage rates.

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30 Year Mortgage Rate Lowest in 6 Weeks

The 30-year fixed mortgage rate continues to decline slightly everyday. Currently, it has reached its lowest level in 6 weeks and is lower than the same time last year.

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Mortgage rates continue to fall slightly, but don't expected it to be the long-term trend.

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The National Association of Realtors report that existing home sales climbed in July, exceeding expectations.

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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.

National Rates

Loan Type Today
30 Year Fixed   6.06
15 Year Fixed   5.72
5/1 Adjustable   5.78

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