Steady interest rates start off 2006
With the start of the new year, many people watch the indicators during the first few days in hopes of a peek into 2006. For mortgage interest rate watchers, the first indicators didn't give much of a hint.
Bankrate.com reports that for the week ending January 4, 2006, the mortgage interest rates were essentially steady. No great moves.
"The benchmark 30-year fixed-rate mortgage fell 1 basis point to 6.27 percent ... One year ago, the mortgage index was 5.81 percent; four weeks ago, it was 6.39 percent."
To read more go here: Mortgage interest rates January 2006
So, it looks like we'll have to keep watching over the next few weeks to see if there's a trend in interest rates developing, either up or down. Remember that the Federal Reserve Board meets again on January 31st.
For those of you who are interested, a calendar of the 2006 meetings of the FRB is available online here: Federal Reserve Board 2006 meeting schedule