Mortgage Rates 02-23-16

By Lisa Robison Updated on 2/23/2016

Bond markets have been weaker over the past several days, still within a narrow trading range.  This pattern implies that the mortgage markets are waiting for the release of new inspiration.  Technical data indicates that the momentum for bond markets died down a couple of weeks ago and will be shifting direction.  Looking at the activity in the oil and stock markets, both are trending higher from the lows that they experienced earlier in the month, however, they will have to make much bigger improvements to overcome the downward momentum that has been growing over the last year or so.  We will continue to use the benchmark of 1.84 in the 10 year yields.  If we see a correction above this ceiling for more than a day or so, we can assume that there is a bigger move ahead.  Check back here tomorrow for more mortgage news.    

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• 30 year (FRM) rates at 3.65% (+0.01%).
• 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 3.49% (+0.01%).
• 5/1 ARM rates at 2.89% (-0.01%).