Mortgage Rates 02-22-16

By Lisa Robison Updated on 2/22/2016

As we head into month-end, bond markets are expected to perform well.  It's been a decent year for bond markets.  10 year yields began at about 2.30 and fell to 1.53 a couple of weeks ago.  That kind of downturn happens only maybe once a year.  The strong correlation between the bond markets and the oil and equities markets is undeniable.  Here are a few factors which show us how these factors are intertwined.  Firstly, Oil is lower because of higher supply and lower demand.  Since oil demand being lower implies a weaker economy, stocks and bonds tend to move lower.  Inflation being low causes bond rallies to occur in a safe environment.  Once the oil prices hit rock bottom, then the bond markets typically change direction.  January was a victory for bonds, and loss for oil/stocks.  It appears that oil and stocks are now looking for their footing.  Check back tomorrow to see the latest mortgage updates.    

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• 30 year (FRM) rates at 3.64% (-0.02%).
• 15 year (FRM) rates at 2.96% (0.00%).
• FHA 30 year Fixed rates at 3.25% (0.00%).
• Jumbo 30 year Fixed rates at 3.48% (-0.01%).
• 5/1 ARM rates at 2.90% (0.00%).