Mortgage rates didn't budge today. in fact, they have been sideways all week. Bond markets started off the month at all-time lows, than had a pretty significant correction all last week. This plateau is a leveling off from that correction. This consolidation is also in part due to anticipation over next weeks Fed policy announcement and Japan's monetary announcement. Bond traders typically don't want to push things too far in either direction ahead of such an eventful week. This week was scarce in relevant data, having the only significant bit be the Housing Data (which historically, isn't a big deal to the bond markets anyhow). Perhaps the summer vacation phenomenon is among us. Either way, we expect things to heat up next week. Check back Monday for updated mortgage rates and more news updates.
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• 30 year (FRM) rates at 3.44% (+0.00%).
• 15 year (FRM) rates at 2.77% (+0.00%).
• FHA 30 year Fixed rates at 3.25% (+0.00%).
• Jumbo 30 year Fixed rates at 3.55% (+0.00%).
• 5/1 ARM rates at 2.87% (+0.00%).
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