Bonds are at a crossroad today as they are sitting very close to the 50- and 200-day Moving Average. A big move in either direction would dictate the bias for rates in the weeks ahead, and a reversal for Stocks would mean a big boost to Bonds.
The Bond Market closes early today in preperation for Veterans Day, so not much is going to happen until Wednesday. So for now I recommend carefully floating if you are closing a loan in the next 30-days.
For Salt Lake City, UT this morning’s mortgage rates are as follows:
30-year fixed: 5.875%
20-year fixed: 5.875%
15-year fixed: 5.500%
FHA 30-year fixed: 6.375%