Mortgage rates are likely to edge upward today. Following yesterday's negative market reaction to auto industry news and more financial sector weakness.
Mortgage rates continue to hold at record lows. Almost totally held by Fed actions in the market--buying mortgage-backed securities and long-term treasuries--there are fears of a rapid reversal in the trend.
The MortgageLoan.com mortgage rate survey shows little movement on the average 30-year fixed-rate mortgage, fluctuating between 5.10 and 5.15 percent for the last few day.
Mortgage rates tick up yesterday on a historic stock market rally. MortgageLoan.com mortgage rate survey is showing 5.13 percent on the average 30-year fixed-rate mortgage.
Mortgage rates repriced lower yesterday. Meanwhile, treasuries continue to trend higher as the bond market begins to get nervous about mounting Federal deficits.