This week has been fairly quiet in the markets and mortgage bonds have been trading in a sideways pattern. Since the September jobs report back on the 2nd, mortgage rates have drifted back up slightly to a technical level right around the 200 day moving average. This technical level is important because it acts as safe spot or balancing spot for rates based on the the economic data abound. 30 year fixed rates on loans of 417K or lower have been mainly in the 3.875% range with zero points for the last couple of weeks, and depending on the economic data from week to week, we will see blips between 3.750% and 4.00%. 15 year rates are trending in the 3.125% range and jumbo 30 year rates are in the 4.00%-4.125% range.
Have a great weekend.