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Last week the Fed decided to hold off on raising short term Fed funds rates; this initially helped mortgage rates, but the improvement halted as the bond market stopped right at the 200 day moving average. 30 year rates touched the 3.875% mark and are now sliding back up. This 200 day moving average in bonds has been a key resistance mark and mortgage bonds have not been able to break through this since July, even in light of all the volatility in the markets. I don’t see rates improving from current levels over the next couple months; rates may ride along in this 4.00% range for a little bit but I don’t see rates going lower.  Currently 30 day mortgage rates are teetering between 3.875-4.000% range with zero points; 15 year rates are in the 3.125-3.250% range and 30 year jumbo rates are in the 4.125-4.250% range

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