Auto Bailout Fails, Mortgage Rates Lower
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- Bill Rice | Fri, 12/12/2008
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The auto bailout fell apart in the Senate yesterday, as Senate Majority Leader Harry Reid (D-NV) pulled the plug on the legislation. This is certain to cause havoc in the equity markets today. However, with continued discussion of the government pushing mortgage rates down to 4.5-4.0 percent and weakness in the equities market the mortgage-backed securities should get a lift.
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National Rates
| Loan Type | Today |
|---|---|
| 30 yr fixed | 4.83 |
| 15 yr fixed |
4.39 |
| 5/1 ARM | 3.69 |
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