Today we continue to see some narrow consolidation continuing in the lower end of the trading range. In fact, 10 year yields reached 1.697 today, which is the lowest that they have been all year. Only four instances this year have 10 year yields hit this low number. Today was light in domestic data, and so markets seem to be hovering in anticipation of next week's FOMC announcement, which will likely spark some volatility. Surprisingly, there was very little impact from today's commencement of the ECB's bond buying program. It's possible that traders have already moved to price in the effects of the program. Check back here tomorrow to get the latest mortgage market news and rate updates.
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• 30 year (FRM) rates at 3.62% (-0.01%).
• 15 year (FRM) rates at 2.91% (-0.01%).
• FHA 30 year Fixed rates at 3.25% (0.00%).
• Jumbo 30 year Fixed rates at 3.63% (-0.02%).
• 5/1 ARM rates at 3.00% (0.00%).
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