The connection between the mortgage rates and the markets seems to be limited, which is surprising as they usually follow fairly predictably. Even more odd, the markets themselves seem to be confused. All this amassas to even more uncertainty and it could potentially bring risks (as well as large rewards) to those who hold onto floating their rates.
Bookmark this page for mortgage rates:
30-year (FRM) rates at 2.94% (0.00%)
15-year (FRM) rates at 2.64% (-0.01%)
FHA 30-year Fixed rates at 2.50% (0.00%)
Jumbo 30-year Fixed rates at 3.95% (0.00%)
5/1 ARM rates at 2.90% (-0.01%)
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RBS Citizens
Clifton Park, NY