Rates Are Still Great!

Mortgage rates were pretty stable last week. The Conforming Fixed 30-year rate topped out at around 4.9 percent, while the Conforming Fixed 15-year rate was last seen at around 4.3 percent. Standard 5/1 ARM rates were hovering around 3.85 percent. In a move to counter the Fed's exit from the MBS purchase program, and with no limits on their portfolios, GSE's were planning to buy back poorly-performing or non-performing loans from investor pools.