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%