Mortgage Rates Down 20%

The 30-year fixed-rate mortgage rate dumped nearly 20%, falling to 5.19% on the MortgageLoan.com mortgage rate survey. Following a huge negative response to Geithner's TARP 2.0 plan, the equities market took another near 400 point loss. This shifted mortgage bonds into a positive reaction. However, today mortgage rates are opening flat and other pressures like uncertainty in the economy, markets, and clogged lender pipelines are sure to push rates back up soon.

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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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