Mortgage Rate Continue Down

By:: Bill Rice - MortgageLoan.com

Mortgage rates are trending down this morning. Showing the early effects of Federal Reserve MBS $500 billion buying program, that kicked off yesterday. As impacting rates is the narrowing of mortgage bond spreads to US treasuries on anticipation of the massive amount of debt that the US government needs to sell to sustain the growing deficit.

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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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