Mortgage Rates today - market opinions

Fixed mortgage rates fell for the eighth straight week in the widely watched Freddie Mac survey of what lenders are offering to well-qualified borrowers. The 30-year fixed-rate mortgage averaged 4.49% this week, down from last week when it averaged 4.55%, Freddie Mac said. Freddie Mac economist Frank Nothaft said a weak jobs report had pushed down yields on long-term Treasury bonds. Those debt securities are a benchmark for home lending rates, and mortgage rates followed suit
This week mortgage experts examined the 10 year Treasury note charts due to its ideal role as a benchmark of the general "bond market." While it's true that loan pricing is derived from MBS, or mortgage backed securities the goal was to examine long-term, big-picture movements. The highest yield levels of 2007 through present day lie roughly along the same line. There appears a near perfect parallel line that, with the exception of the initial panicked flight-to-safety in 2008 and the repeat performance in 2010, the 10 year Treasury note charts contains every last bit of trading since the crisis.
This is one of those times where technical analysis really is saying something very clear about the future: we're either in for an unfriendly bounce, or we're looking at the possibility of rates going lower.

Plain and Simple: The revisiting of a long term technical level coincides with several other uncommon market dynamics, including the end of QE2, this is combining to create a perfect storm where rates are "on the ledge, poised for directional volatility. Best advice, if you are purchasing or refinancing, work with a lender who has real time live MBS market data streaming to them so you can lock if the market starts to move into negative territory.

Mortgage rates this week:


30 year fixed - 4.375 % with .250% points for rate
20 year fixed - 4.125 0% with .250% points for rate
15 year fixed - 3.625% 0 points for rate
10 year fixed - 3.250% with 1.00 point credit to borrower for rate
5/1 ARM - 2.75% - 0 points for rate
7/1 ARM - 3.125% - 0 -points for rate
Jumbo - over 729,000
30 year fixed - 4.99% 0 points for rate
15 year fixed - 4.50% - 0 points for rate
5/1 ARM - 3.50% - 0 points for rate
7/1 ARM - 4.00% - 0 points for rate