Mortgage Rates 02-10-16

By Lisa Robison Updated on 2/10/2016

Mortgage markets are continuing to react to global distress, and rates keep pushing lower.  It seems that the bond markets, as well as the stocks and commodities all expect the economy to have a downturn.  Being that rates are making their way into the mid-3's, those with a rate in the 4's should definitely consider a refinance in the near future.  Market participants are starting to doubt the option of another rate hike this year.  With the global economy hitting record lows, against the backdrop of the Fed's plan to hike, something has to give.   With very little on tap in the way of economic data, bond markets have been following the equities markets.  Stocks were mostly flat yesterday, and bonds did the same.  The fall in rates was likely due to lenders getting caught up with the gains that have been occurring over the last couple of days.  Fed Chair Yellen is speaking over the next couple of days, so market watchers will be listening for any reaction to global events.  Check back tomorrow for the most up to date mortgage news. 

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• 30 year (FRM) rates at 3.82% (-0.07%).
• 15 year (FRM) rates at 2.95% (-0.04%).
• FHA 30 year Fixed rates at 3.25% (0.00%).
• Jumbo 30 year Fixed rates at 3.45% (-0.04%).
• 5/1 ARM rates at 2.89% (-0.01%).