Today in the mortgage markets, we finally saw a break from the 6 consecutive days of improvements. Most lenders are now pricing in around 3.375% for top tier scenarios, with some lenders still quoting out 3.5%. In the greater picture, we are still near historic lows, but today's break is probably a good indicator to lock if you were waiting. In terms of mortgage motivation today, we saw plenty of news hitting the stands. Yellen's own congressional speech, Draghi discussing the policy of the European Central Bank. and also this morning's Durable Goods data, which was notable. The aforementioned headlines did little to move markets, surprisingly. The most movement appeared to come from the OPEC announcement regarding production control. This news not only caused the market to flutter, but also spanned across the oil prices and stocks as well. Check back tomorrow to get more up to date mortgage rates and news.
Bookmark this page for mortgage rates:
• 30 year (FRM) rates at 3.37% (+0.00%).
• 15 year (FRM) rates at 2.72% (+0.00%).
• FHA 30 year Fixed rates at 3.20% (+0.00%).
• Jumbo 30 year Fixed rates at 3.51% (-0.00%).
• 5/1 ARM rates at 2.81% (+0.01%).
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