Mortgage Rates Jump

By:: MortgageLoan.com

Mortgage rate jump upwards on consumer confidence numbers and economic recovery comments from President Obama. However, be cautious of this trend sticking. The surge in the 10-year treasuries and FDIC statements about continued bank failures continue to add to counterbalancing market news. Look for banks and mortgage companies to seize some profit opportunity in the rise in rates, but a reversal is likely before a steady march upwards.

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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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