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 continue to decline on momentum-type trading from marginal good news like declining oil prices, rising oil inventories, and on expectation housing indicators. However, steady for some rate jolts as uncertainty gets closer--inevitable Fannie Mae and Freddie Mac bailouts, Fed's need to address inflation by raising short-term rates, and growing spread between the 30 year fixed mortgage and the 10 year treasury. Corrections are on the horizon. Expect major shifts prior to labor day.

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Mortgage Rates Drop

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Mortgage Rates Fall for Week

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Mortgage Rate Watch

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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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