Mortgage Rates Climb on Consumer Confidence

By:: MortgageLoan.com

Mortgage rates started the day heading lower on continued reporting of Swine Flu outbreaks. However, these trend lines quickly reversed. Housing prices' rate of decline showed a notable deceleration and consumer confidence came in with an eye-popping 12 point jump--the largest improvement in four years. This sent mortgage rates into a late day reprice that will yield an increase in mortgage rates for the day.

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Loan Type	Today	+/-
30 yr fixed	3.80
15 yr fixed	3.10
5/1 ARM	2.73

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