Mortgage Rates-Early Upward Spike

By:: MortgageLoan.com

In early morning trading mortgage rates received tremendous upward pressure. However, they have recently recovered to flat. The multi-day stock market rally and some strong economic indicator surprises, like retails sales and inventories, have pushed on MBS yields. However, unemployment numbers, home sales, and housing prices all showing strong negative results will probably hold mortgage rates in a fairly tight range for the near-term. Expect and overall weekly decline in mortgage rates and today ending flat to slightly higher.

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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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