May 26, 2011
May 26, 2011 by admin
May has been a great month for the mortgage market as long term interest rates have moves substantially lower this month following a dip in bond yields. The ten year treasury bond move below 3.1 this week, over seventy basis points off of its high levels of the year. The correlation to fixed mortgage rates has moved fixed mortgage rates below four and a half percent and into 2011 low levels. Fixed rates for both fifteen and thirty year loan terms have improved greatly in pricing, offering consumers a great window into home purchases this month. Oil prices will remain a lingering concern, but have dropped off of their high levels and the softness with the U.S. economy will likely keep interest rates near current levels for the balance of 2011.