250 DOW improvement points in one day. Release of the Fed's open market committee minutes revealed a forecast of higher (than expected) economic growth. Fixed income MBS markets suffered today as the money flowed into stocks. Good economic news over the past two days has worsened mortgage rates somewhat.
Interest Rates for Wednesday, 7/15/09
Conforming Conventional 30 Yr Fixed 5.625% no points
Conforming Conventional 15 Yr Fixed Rate 5.000% no points
FHA 30 Yr Fixed Rate 5.500% no points
* Above Conventional rate quotes are as of 7/15/09 on a Conventional $165,000 loan amount, primary residence at 80% loan to value, with a 720 FICO score. APR includes $1,200 in lender fees and 980 in title charges (title charges may vary). FHA Quote assumes a $125,000 loan amount and a 680 FICO score, and a 96.5% LTV. Documentation of income and assets required. No origination or discount points.