Well, it looks like the Feds plan to lower rates may have backfired. It is probably a bit early to make that conclusion, but the trend is beginning to point that direction.
Today the stock market rallied again pushing the Dow up about 146 point to close near 11,190. The 10 Year Treasury went up 0.1120 (+5.88%) to close at 2.016. That is trending higher which will push the mortgage rates higher if it continues.
Today’s Mortgage Rates from Edina Realty jumped about 1/4% on the 30 year fixed conventional today, probably due to yesterdays gain in the 10 Year Treasury.
Today’s Mortgage Rates
The current interest rates shown below are based on a purchase of a single-family, primary residence. For current refinance rates, contact us
as of 09/27/2011 02:38 PM Central
Product Interest Rate APR Conforming1 and FHA1 Loans 30-Year Fixed 4.250% 4.434% 30-Year Fixed FHA 3.750% 4.550% 15-Year Fixed 3.250% 3.566% 7-Year ARM 2.875% 3.180% 5-Year ARM FHA 2.750% 2.908% Jumbo1 Loans – Amounts that exceed conforming loan limits1 30-Year Fixed 4.375% 4.518%
- Fed’s Fisher Says Operation Twist May Be Ineffective, Hurt Jobs (businessweek.com)
- Fed’s Fisher slams Twist move as ineffective (marketwatch.com)
- Robert Shiller on Why “Operation Twist” Won’t Help the Housing Market – Business Insider (johnmurphyreports.com)