Rates Edge Upwards

Since Tuesday when the Fed announced that short term interest rates were being held steady for the foreseeable future, long term interest rates have beed creeping higher. Traders see the low interest rates as benefitting the stock market more than the bond market. When this happens, Wall Street sells bonds, which caused yields (rates) to go higher; and buys stocks.

Currently the rate for a 30 year fixed conforming is still available at 5.875% for a 0 point loan at most lenders with 5.75% available at the market leaders.

We, of course, do business with the market leaders!

Posted by bruce at December 11, 2003 12:16 PM | TrackBack