Today the morning started out calm and in stronger territory. As soon as the 9:30ET Stock exchange opened, the pressure to sell set in. As widely reported by the media, the culprit was the Deutche Bank's DOJ fine being lowered from 14 billion to 5 billion. In reality, the selling was already underway by the time that news made it's way around. Bond market volatility typically occurs with the opening of the NYSE. Today was also the last trading day of Q3, and also month end, so a flurry of trading was, on some levels, expected. When we reflect back on the month in general, we are pretty well in line with last month's levels, and still hovering at all time lows. Check back here next week for more mortgage news, and for up to date mortgage rates.
Bookmark this page for mortgage rates:
• 30 year (FRM) rates at 3.39% (+0.00%).
• 15 year (FRM) rates at 2.73% (+0.00%).
• FHA 30 year Fixed rates at 3.25% (+0.05%).
• Jumbo 30 year Fixed rates at 3.53% (+0.01%).
• 5/1 ARM rates at 2.84% (+0.04%).
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