Mortgage Rates Head Downward

By:: Bill Rice - MortgageLoan.com

Freddie has a strong initial debt sale--issuing $1 billion in 5-year notes at a reasonable risk premium over treasuries. Market gives proof that Fannie, Freddie can continue to competitively finance debt. Sends Fannie, Freddie stock up. The US Dollar is also ticking up this morning. All indications are the mortgage rates will continue slight downward angle and remain overall steady.

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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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