Rate Update 2008-08-20: Mortgage Rates Stagnant

By:: Bill Rice - MortgageLoan.com

Mortgage rates continued to hold steady yesterday despite the expected report of steep declines in housing starts. Yesterday's housing starts report kicked up a flurry of non-productive trading activity and ended the day where it started. Today is expected to be light on economic news, with no significant reporting. The result will likely be less trading activity and mortgage rates remaining stagnate.

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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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