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Mortgage Interest Rates Hold Ground Amid Increasing Treasury Yields

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Mortgage Interest Rates Hold Ground Amid Increasing Treasury Yields

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U.S. treasury yields inched higher after facing continuous pressure from a German government bonds selloff along with the upcoming sale of debt from the government. At the same time, the U.S. Dollar performed better as compared to the Euro, primarily because of a gloomy credit situation in Greece. The nation is required to repay a loan of 750 million euros to the International Monetary Fund tomorrow. Greece urged the finance ministers of the Euro zone to confirm progress in negotiations for cash, as it will allow the country to receive short-term funding. The U.S. Dollar capitalized over the euro zone crisis, gaining momentum for the last three sessions. It was an excellent day for the major stock market indexes after an interest rate cut in China.

The U.S. government will offer three-year notes worth $24 billion on Tuesday followed by the sale of 10-year notes worth $24 billion on Wednesday and 30-year bonds worth $16 billion on Thursday. A large debt selloff from the government has added to the pressure faced by U.S. treasuries. Treasury prices continue to drop, with 10-year treasuries down to 9/32 in price. The Federal funds rate was stable on Friday at 0.13 percent, maintaining a similar rate for the whole week.

Mortgage interest rates are stable on May 11th, 2015 with a 30-year fixed rate mortgage available at a 3.99% interest rate, as per Bankrate.com. A 15-year fixed rate mortgage is available at an interest rate of 3.17%.

Bank of America is offering its 30-year fixed rate mortgage at 3.875% interest, whereas its 15-year fixed rate mortgage is available at 3.000% interest. Refinance loans from the leading U.S. lender are available at 4.000% and 3.250% interest rates for 30-year fixed rate and 15-year fixed rate mortgage loans, respectively.

Chase is asking for an interest of 3.750% with 0.875 points for a 30-year fixed rate mortgage loan. Its 15-year fixed rate mortgage loan is available at 3.000% interest with 1.250 points. The refinancing options of Chase include a 30-year fixed rate refinance loan available at 4.000% interest with 0.750 points and 15-year fixed rate refinance loan available at 3.250% interest with 0.875 points, respectively.

Wells Fargo is quoting an interest of 4.000% for a 30-year fixed rate mortgage, and its 15-year fixed rate mortgage is available at 3.250% interest.

The interest rates mentioned within the article are subject to change without any guarantee and are up-to-date at the time of publishing of the article. For the latest interest rates, make sure to check the current values.

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