Mortgage Articles

Tuesday, November 01, 2005

In a highly anticipated move the Federal Reserve Board raised short term interest rates in what is now a customary .25% in its latest open market meeting.

The Central Bank said today that the 12th straight rate increase was necessary to keep core inflation down, as despite the effects of three major hurricanes the economy is strong.

Ten Year US Treasury Note's yield stayed very much at around 4.55% which is the level it's been at for the past two weeks or so. Which basically means that home mortgage rates stayed at around the same level?

In the past week or so the 30 year conforming fixed has averaged at 6.15%.

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