Current Mortgage Rates: Mortgage Rates are Currently Unchanged as the Benchmark Yield Rose Slightly Today.
By: Ed Ferrara
Current mortgage rates seem resistant to any up or down movement as the benchmark treasury yield rose slightly today. The 10 year treasury yield, a leading indicator for Current Mortgage Rates rose to 3.53 (1.00%) after opening at 3.48 this morning. The Dow had a good day rising 82 points on some better than expected earnings reports and positive data on housing starts. As a result bond demand was low today leading to the slight increase in the yield.
Current Mortgage Rates are Still Near Record Lows.
Our research of wholesale mortgage lender’s rate sheets shows current mortgage rates as low as 4.875% with zero buy down points for a 30 year fixed.. For the most part mortgage banks did not re price for the worse after the yields made their slight move upward. Positive data was released today in regards to a fifth straight month over month rise for housing starts. Housing data does not directly effect mortgage rates. Recently the Fed held their Key rate near zero. While the Fed’s lending rate does effect variable mortgages and home equity lines of credit it does not directly effect conforming fixed mortgage rates.