Mortgage rates hold steady as markets await Fed meeting. The 30-year fixed hovers near 6.8% with minimal day-over-day movement.
Mortgage Rate Movements
The 30-year fixed-rate mortgage averaged 6.81%, unchanged from the prior day. The 15-year fixed held at 6.08%. The 5/1 ARM was quoted at 6.15%. Markets are in a holding pattern ahead of the FOMC meeting.
Treasury Yield Movements
The 10-year Treasury yield closed at 4.28%, up 2 basis points. The 2-year yield held at 4.72%. The yield curve remained inverted.
Federal Reserve Developments
The FOMC begins its two-day meeting tomorrow. Markets expect no rate change but will closely parse the statement and press conference for forward guidance signals.
Lender News
Several lenders announced minor pricing adjustments. No major program changes were reported today.