18 August 2009 ? Today the bond market opened down 6 bps and are currently down 12 bps. Housing starts were lower than expected at 577,000 versus the 599,000 expected. Inflation is not a concern as the Producer Price Index (PPI), which measures inflation on a wholesale level, fell .9% versus .3% expected. In the past year the PPI has fallen 6.8%. This is mostly due to the decrease in oil prices this year compared to last year when a gallon of gas was over $4.50! The Dow is up 73 which is pressuring bonds, if the Dow gives back some gains that should help the bond market today. However we have had a tremendous run over the past week including yesterday. Rates remain at 5% for the 30 year fixed and 4.5% on the 15 year fixed.Email This Post To a Friend.
Today’s Mortgage Rates Remain Near 5%
August 18, 2009
Subscribe to our e-mail newsletter to receive updates.