rates-continue-their-descent

By:: Paul King - MortgageLoan.com

Rates continued their descent today despite stronger than expected economic reports. The stock market is also down today which has helped bonds improve and rates drop. Expect a .375 improvement to the points today. January Personal Income and Outlays report came in stronger than expected with an increase of income and spending. University of Michgan reported their February revision to the Index of Consumer Sentiment. The revision was higher than expected. Both reports however did not influence rates, where they normally would have had a negative impact. Next week we'll see the ISM manufacturing index but most importantly the Employment report for February next Friday.

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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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