Bond markets experienced a pretty slow day today. Starting out in the overnight session, there were two key influencers. Firstly, the currency fluctuations affected the first part of the session, followed by weakness in the European Bond markets. Once the domestic day started, bonds weakened further with the release of the Import Price data, which came in weaker than expected. The Consumer Sentiment report helped bonds find their footing, and then, upon the announcement that Fed's Tarullo is expected to take an early retirement, bonds again slowed down. Bonds coasted sideways for the remainder of the day. MBS outperformed treasuries today by a small margin. Check back here next week for more rate updates and mortgage market news.
Bookmark this page for mortgage rates:
• 30 year (FRM) rates at 4.19% (+0.06%).
• 15 year (FRM) rates at 3.39% (+0.05%).
• FHA 30 year Fixed rates at 3.75% (+0.00%).
• Jumbo 30 year Fixed rates at 4.30% (+0.04%).
• 5/1 ARM rates at 3.04% (+0.05%).
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