We have had a fairly tame week in the bond markets; the week was filled with inflationary index readings and they all came in relatively flat. Remember, as we start to see higher inflation readings this will have negative effect on mortgage rates, but for now, no big inflationary threat in the short run. There is also some more Eurozone drama, in particular with Greece again. This overseas instability is also helping keep mortgage rates low. 30 year mortgage rates are in the 3.750% range with zero points and 15 year rates are in the 3.000% range. Jumbo 30 year rates are trading in the high 3’s to low 4’s. Rates are real close to the lowest levels of the year. #weeklyrateupdate
Have a great weekend.