Salt Lake City’s Mortgage Market Update for Nov. 4, 2008

This morning Mortgage Bonds are holding steady to trading slightly higher than yesterday and as usual will take their directions from Stocks.  Yesterday only saw a 153-point range of trading, which was the least volatile day in over two months. This morning Stocks are trading a little higher morning which will put some pressure on Bonds.

Today I feel that Mortgage Bonds will continue their trend of moving sideways from yesterday, so I advice floating right now if you are in the process of a new home loan or refinance.

For Salt Lake City, UT this morning’s mortgage rates are as follows:

30-year fixed: 6.125%

20-year fixed: 6.125%

15-year fixed: 5.8750%

FHA 30-year fixed: 6.500%

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