Mortgage rates are slightly lower today, as yesterday's gains held strong. The 10-year yields had been repeatedly trying to push below the 1.54% level, and then finally achieved that goal as the day progressed. Mortgage rates had been sideways at best coming into this week, and recived a push from the 5 yeat TIPS auction today. This narrow trading range is bound to give way to something significant. Perhaps the jackson Hole symposium next week will be that event. Rates will likely continue to float around in the lower range of the recent trading pattern heading into next week, as there aren't any significant domestic reports coming into play tomorrow. Check back here for rate updates and mortgage news:
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• 30 year (FRM) rates at 3.41% (-0.01%).
• 15 year (FRM) rates at 2.75% (-0.01%).
• FHA 30 year Fixed rates at 3.20% (-0.00%).
• Jumbo 30 year Fixed rates at 3.52% (+0.00%).
• 5/1 ARM rates at 2.83% (-0.02%).
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