Bonds Down as Economic Reports Come in Strong

Bonds opened Friday down giving back gains earned yesterday in a day-end bond rally. Stocks are up, and rates as a result will remain flat. Economic news today did came in worse than expected. June Durable Goods Orders marked a large increase, not the decrease that had been expected. This suggests that the manufacturing sector may be returning to normal. In other news, the July Index of Consumer Sentiment came in well above the previous reading, showing increased consumer confidence levels, also bad news for rates. Finally, New Home Sales were up compared with expected levels.

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Mortgage Rates Will Move

Expect significant mortgage rate movement today with the release of CPI.

Mortgage Rates Drop

Mortgage rates drop again for the second straight week.

TARP Redirect Plunges MBS

US Treasury Secretary Paulson's sharp redirection on the objective of the TARP funds had a dramatic effect on overnight markets and the MBS market.

Veterans Day-Markets Closed

Mortgage rates stay flat on Monday and markets are closed today for Veteran's Day.

Mortgage Rates Fall for Week

Mortgage rates continue to fall, but rising unemployment and tightening lending standards are forcing borrowers to stay on the sidelines.

Mortgage Rates Back Down

30 year fixed rate mortgage is back down to 6 percent.

Mortgage Rate Watch

Yesterday was a good day for mortgage rates as they eased on the eve of Presidential election finality. However, today is likely to be a mortgage market referendum on President-elect Barack Obama.

Choppy Waters for Mortgage Rates

Not a lot of mortgage rate impacting news this week, but Presidential elections always do surprising things to markets.

National Rates

Loan Type Today
30 Year Fixed   5.62
15 Year Fixed   5.47
5/1 Adjustable   5.85

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