7 July 2009 ? Bonds opened down today by 16 bps, however they have turned the corner and are now up 12bps. There is concern that inflation may be looming down the road as Vice President Joe Biden stated that more stimulus packages may be needed to curtail the unemployment rate. The current administration miscalculated the severity of the job losses, which have brought unemployment close to 10%. The Dow is down 106 right now, which may help the bond market and mortgage rates. The 30-year fixed rate remains around 5% to 5.375% as reported yesterday in the update. We have not been able to move below the 5% range at this time. The tip for today, did you know that you can refinance to a lower rate even if your loan to value is 105%? Consult your mortgage professional today to take advantage of the low rates and the DU Refi Plus program for Homeowner?s who have seen a decrease in property value.Email This Post To a Friend.
Today’s Mortgage Rates Remain Steady at 5 to 5.375%
July 7, 2009
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