Mortgage Rates 01-08-16

By Lisa Robison Updated on 1/8/2016

Mortgage rates today are still inching lower due the recent rally in the bond markets.  The motivation has been recent events concerning the global economy, as well as massive selling of stocks occurring at home and overseas yesterday.  It is common knowledge that rates will likely be heading higher in the coming months, and it is only a matter of time before the flight to safety that is happening on a global scale takes a break.  The NFP report that gets released today may be able to shift the momentum if it comes in remarkably strong.  Bond markets have not had any option but to continue their rally, despite domestic data.  Global concerns are in the driver's seat.   In domestic news, along with the Non-Farm Payroll report today, we are expecting the Private Payrolls, Unemployment Rate, Manufacturing Payrolls, and the Average Workweek Hours and Earnings.  Check back Monday to see the most up to date mortgage rates and news.         

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• 30 year (FRM) rates at 3.96% (-0.02%).
• 15 year (FRM) rates at 3.21% (-0.02%).
• FHA 30 year Fixed rates at 3.65% (-0.05%).
• Jumbo 30 year Fixed rates at 3.79% (-0.02%).
• 5/1 ARM rates at 3.06% (+0.02%).