Current Mortgage Rates: Mortgage Rates are Stable as Fed Says Low Rates and Treasury Purchases

Current mortgage rates are stable as the Fed announced they'll buy the full amount of treasuries as planned winding down that program in October and will keep the fed rate exceptionally low for an extended period of time. The stock market posted big gains as the Dow finished the day at 9361.61 up 120.16 while the benchmark treasury yield a leading indicator for fixed mortgage rates went up a tad to 3.72. 30 year fixed mortgage rates are as low as 5% with zero buy down points (extra points paid to lower the rate) today according to FreeRateUpdate.com's research of wholesale mortgage lender's rate sheets.

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