Mortgage Rate Trends

June 7,  2013RateAPRPoints
Bank of America4.000%4.164%.948
Wells Fargo4.125%4.252%NA

Mortgage rates have been increasing over the past 15 days as a result of news that the Feds may slow they quantitative easing and the increase in the 10 year treasury yield.

Mortgage rates are on the decline this morning after news of Portugal’s potential bailout. As Europeans become increasing more concerned with their economy, they tend to favor more secured investments such as The US Treasury. When foreign investment in The US Treasury is strong, it brings the yields down and mortgage rates tend to follow.

Today’s 30 year fixed rate is 4.50% or (4.624% apr).

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