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Mortgage Rates Commentary, Rates and Indices

MORTGAGE MARKET

Jumbo Mortgage Rates

User Guide | Most Recent Market Report | Economic Calendar

DATE: Wednesday 03/19/2008 at 10:34 AM (Eastern)

Market Direction

Rates are

 Moving slightly lower

Rate Volatility

 Low
Interest Rate Trends

Long Term (4-6 weeks)

 Flat

Short Term (1-2 weeks)

 Flat

Market Commentary

DATE: Wednesday 03/19/2008 at 10:34 AM (Eastern)

After some back and forth, shortly before 10:00 a.m., EST, Treasuries were bid up (rates down), taking some investors by surprise. Traders predicted prices may not have finished climbing (rates falling) today.

Mortgage Applications. The weekly MBA mortgage applications index slipped 2.9% last week, led by refis which dropped 4.6% and purchasing applications down 1.0%. The fixed 30-yr. mortgage rate dropped to 5.98% (38 basis points) while the 15-yr. lowered to 5.24% & the 1-yr. adjustable rate mortgage jumped up to 6.95% (+22 bps).


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U.S. Treasury Bonds Mortgage Point Change

Security

Change

Yield

30 YR Bond

-0.073

4.26%

10 YR Bond

 -0.047

3.40%

Security

Change

30 Year Fixed

-0.125

15 Year Fixed

 -0.125


National Average Mortgage Rates
Week Ending 03/14/2008


Key Interest Rates

Mortgage

Rate

Points

30 Year Fixed

6.13

0.50

15 Year Fixed

5.60

0.50

1 Year Adjustable

5.14

0.70

1 Year TBill

1.37%

11th District COFI

3.97

Prime Rate

6.00

Discount Rate

3.25

Fed Funds Rate

2.25

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