Bond markets today seemed intent on continuing their slow and steady trek higher. The only blip in the trend was felt when the Durable Goods report and the Consumer Confidence Report came in weaker than expected. This impact was short lived, and the motivation for the day seemed to be the European market and the 5-Year Treasury auction at 1pm EST. Bonds reacted almost immediately to the open of the European session. It seems that domestic data was put on the back burner today, and bonds are anxiously awaiting the Fed announcement scheduled for tomorrow. This meeting will likely trigger a response in the markets. Check back tomorrow for the most up to date mortgage news.
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• 30 year (FRM) rates at 3.75% (0.00%).
• 15 year (FRM) rates at 3.03% (+0.01%).
• FHA 30 year Fixed rates at 3.35% (0.00%).
• Jumbo 30 year Fixed rates at 3.66% (0.00%).
• 5/1 ARM rates at 2.99% (-0.01%).
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