19 August 2009 ? The bond market opened today up 9bps and sharply improved. However, bonds quickly retreated as the stock market staged a rally. The Dow is up 79 points, which has pressured the bond market. While bonds are currently up 18 bps, that is a drop of 10 to 16 bps. There is definitely a lot of volatility, however rates are hovering at the 4.875% to 5.125% for the 30 year fixed. There is a Treasury Auction tomorrow which we will be watching closely to see how the bond market will react. If the auction does not go well, this could cause a slight increase in the mortgage rates. Rates overall are very good right now, with the home prices and $8,000 credit it is an excellent time to buy!Email This Post To a Friend.
Today’s Mortgage Rates Hoving in the 4.875% to 5.125% Range
August 19, 2009
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