Mortgage Rates on Rise

By:: Bill Rice - MortgageLoan.com

Mortgage rates continue to climb as the market anticipates the final details of the $700 billion bailout. Thursday the markets traded as if the bailout proposal was a done deal. However, the plan got a late night surprise as politics seemed to engage in the process. Republicans and Democrats went into a late night session that end without a resolution. Expect this new uncertainty to inject more uncertainty trades into the market today. Mortgage rates are like to jump today.

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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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