Rates Shoot Upward on Amazing Stock Market Recovery

In an amazing comeback rally yesterday, stock markets recovered AM losses and posted gains, sending mortgage rates soaring, which continued into today's trading. The stock market is up at the time of this post, and if a lender did not reprice yesterday afternoon, rates should be up around 100 basis points or 1.0% to the price. The stock market continues to completely dominate bond market trading and the direction of mortgage rates. December Existing Home Sales was posted today showing a larger than expected decline in sales, which is good news for mortgage bonds, but did not really affect trading today. There will be no economic data scheduled for release tomorrow, so again all eyes are on the stock market to determine where rates go on a day to day basis this week. Next week is full of new data, and the first FOMC meeting of the year.

Start here to compare mortgage rates from top lenders in our network.»

More Top Stories »

Mortgage Rates Head Downward

Market proves Fannie, Freddie can continue to competitively finance debt. Sends Fannie, Freddie stock up and the US Dollar is ticking up.

Market Watches Freddie Debt Sale

All mortgage and investor market eyes are on Freddie Mac's debt sale today.

30 Year Mortgage Rate Lowest in 6 Weeks

The 30-year fixed mortgage rate continues to decline slightly everyday. Currently, it has reached its lowest level in 6 weeks and is lower than the same time last year.

Mortgage Rates Continue Fall

Mortgage rates continue to fall slightly, but don't expected it to be the long-term trend.

FOMC Minutes

The recently released FOMC Minutes reflect a general consensus that inflation is the primary Fed concern.

Existing Home Sales Up

The National Association of Realtors report that existing home sales climbed in July, exceeding expectations.

Bernanke Speaks Today

A full agenda of challenges greets the Federal Reserve governors at there annual Jackson Hole, Wyoming symposium.

Bernanke:Inflation Uncertain

Bernanke assures market the Fed will "act as necessary."

Compare Rates

National Rates

Loan Type Today
30 Year Fixed   6.05
15 Year Fixed   5.73
5/1 Adjustable   5.78

Get Your Rates »

Rates may contain points

Browse Mortgage Rates

Featured Guides

Browse our comprehensive guides to popular topics related to mortgage and personal finance.

100+ Calculators