Stocks are again trading low today, but mortgage bonds are so far this morning remaining above the 200-moving average. Jobless claims were 478,000, and the four week average of continuing claims rose by 44,250. Usually this helps mortgage bond prices, but in today’s market there is no telling what a common indicator will do.
Mortgage bonds have come up against resistance when trying to move above $102 this week so rates haven’t changed from yesterday, so as long as they remain above the 200-day moving average I recommend floating if you in the midst of the loan process.
For Salt Lake City, UT this morning’s mortgage rates are as follows:
30-year fixed: 5.875%
20-year fixed: 5.750%
15-year fixed: 5.50%