Mortgage Rates Flat

By:: Bill Rice - MortgageLoan.com

Mortgage rates open the week flat--in a holding pattern for pending economic reports. Existing housing sales already reports a surprise 6.5 percent increase, easing bloated housing inventory. This is likely a reaction to historically low mortgage rate. Expect early positive reaction by the equities market. Later this week the Fed meeting on Wednesday and Treasury debt auctions could create more mortgage rate movement.

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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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