Mortgage Rates Upward Bias

By:: Bill Rice - MortgageLoan.com

MortgageLoan.com's mortgage rate survey is showing the average 30-year fixed-rate up to 5.11%. There is some anticipation selling pressure in the bond market, at open today. Mortgage-backed securities traders are waiting for indicators from Fed Chairmain Bernanke's two-day Senate testimony on the economy and President Obama's first speech to the Congress.

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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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