Bond markets reacted in a pretty big way to today's headlines regarding the European Central Bank's determination on the reduction of asset purchases. This means that Draghi may be limiting the ECB's bond buying program. These types of news headlines coming out of the ECB make big waves in the US markets, as global bank policy can and often does create excess demand for debt around the world. US Treasuries and Bond markets are directly impacted. Concerns that the ECB will be following the Fed's slow tapering example gave way to discussion over a turning point in the mortgage markets. We may not see an immediate large hike in interest rates, but the fear has set in that the historic lows are nearing an end. Check back here tomorrow for more mortgage news and rate updates.
Bookmark this page for mortgage rates:
• 30 year (FRM) rates at 3.48% (+0.06%).
• 15 year (FRM) rates at 2.80% (+0.05%).
• FHA 30 year Fixed rates at 3.30% (+0.05%).
• Jumbo 30 year Fixed rates at 3.61% (-0.05%).
• 5/1 ARM rates at 2.87% (+0.02%).
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