Mortgage Rates Low, Fed Stays Course

By:: MortgageLoan.com

Mortgage rates remain at record lows as the Federal Reserve stays the course. The FOMC reiterated economic trend data from recent reports: economic contraction slowing, consumer confidence returning, consumer spending stabilizing. Based on these indicators the FOMC voted to keep the Fed Funds Rate at historic lows and continue on their aggressive schedule of MBS and treasury (debt) buying. This will continue to hold down mortgage rates for the foreseeable future.

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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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