Rates stayed completely still today, sort-of. The overnight trading session brought some weakness when a big seller decided that it was time for a sell-off. 10 yer yeilds rose at that time from 1.76 to 1.788 within half hour. The rest of the market participants saw this movement, and decided that they were comfortable with 1.788 being the ceiling for the day. Bonds barely moved until about 8:20am, and then 10am Consumer Confidence data produced more gains until around 11:00am EST. At the end of the day, the upper end of the recent range was reinforced. November or December are opportunities for the Fed to offer more insight as to a potential end of year rate hike, but their credibility is a bit shaky, as the "4 hikes in 2016" prediction has been thrown off course by ECB developments. Check back here tomorrow for more mortgage news and mortgage rates.
Bookmark this page for mortgage rates:
• 30 year (FRM) rates at 3.55% (+0.00%).
• 15 year (FRM) rates at 2.86% (+0.00%).
• FHA 30 year Fixed rates at 3.35% (+0.00%).
• Jumbo 30 year Fixed rates at 3.71% (+0.00%).
• 5/1 ARM rates at 2.88% (+0.00%).
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