29 July 2009 – Today the bonds opened up 29 bps. However by noon the bonds were up 12, which is a decrease of 9bps. By 12:15 the volatility hit that I discussed in yesterday’s update and the bonds are now down 10, which is a 31 bps drop for the day. This auction results from the Treasury were very poor, which is pressuring the bonds. This morning the weak durable order report signaled that the US economy is not out of the woods and the recovery from this recession will take time. Mortgage interest rates have risen over the past 6 months, mirroring the rallying stock market. However rates are still very good and in the low 5?s for the 30-year fixed rate and in the mid 4?s for the 15 year fixed rate.Email This Post To a Friend.
Today’s Mortgage Rates in the Low 5’s Despite Bond Drop
July 29, 2009
Subscribe to our e-mail newsletter to receive updates.