Last week was a defensive shift for bonds, with yields asymptotically moving towards 0.79%. Now, it appears as if Traders may have been waiting until after the 3-day weekend to buy. Both Treasuries and MBS noticeably started strongly.
Bookmark this page for mortgage rates:
30-year (FRM) rates at 3.02% (0.00%)
15-year (FRM) rates at 2.45% (0.00%)
FHA 30-year Fixed rates at 2.42% (+0.04%)
Jumbo 30-year Fixed rates at 3.35% (+0.01%)
5/1 ARM rates at 2.79% (-0.02%)
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RBS Citizens
Clifton Park, NY