Today the bond markets ended the day flat, which in reality was a victory in the wake of the post-election spike. We started the U.S. trading day in weaker territory, and thanks to the weaker Producer Prices report and Manufacturing Data, as well as the EU market, we had a mid-day rally which brought us back to pretty well unchanged. We are not out of the woods yet, as the focal point is now on getting back down below the 2.17% range for 10 year yields. Given more time, we will begin to see whether or not today's amrginal victory will be the signal of change, or just a consolidation trend following the last week of higher interest rates. Check back here tomorrow for more mortgage news and the latest mortgage rate updates.
Bookmark this page for mortgage rates:
• 30 year (FRM) rates at 4.00% (-0.02%).
• 15 year (FRM) rates at 3.25% (-0.01%).
• FHA 30 year Fixed rates at 3.75% (+0.00%).
• Jumbo 30 year Fixed rates at 4.08% (-0.01%).
• 5/1 ARM rates at 2.99% (+0.02%).
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