Mortgage Rates Expected to Move Lower

By:: Bill Rice - MortgageLoan.com

This week is expected push mortgage rates lower for the third straight week. Although the week is light on formal economic announcements it is expected to be heavy on Federal policy announcements. If recent history holds firm this will send equity markets into turmoil. The combination of bank nationalization discussion and President Obama's first state of the union is certain to send the bond market on the rise, triggering declines in mortgage rates.

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Loan Type	Today	+/-
30 yr fixed	3.80
15 yr fixed	3.10
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