31 July 2009 ? Bonds opened up 19 bps this morning and continued to improve after a good Treasury auction; they are currently (1:45 p.m.) up 45 bps. The 30-year fixed is around 5% to 5.125% and there are no auctions next week which should stabilize the bond market and the mortgage rates should be stable. The DOW is down 24 which also is a help to the bond market. There were many bad economic reports today: GDP adjusted 1st quarter numbers were worse, Chevron and Exxon earnings were worse. Again, as stated before, the markets are volatile but with the economic situation it will take time to recover and we anticipate the mortgage rates to remain stable for the near future.Email This Post To a Friend.
Today’s Mortgage Rates Holding in Low 5s
July 31, 2009
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