Mortgage Rates 02-29-16

By Lisa Robison Updated on 2/29/2016

Mortgage rates today are slightly higher than they were on Friday, but the focus really comes down to the analytics behind the rates.  There is an ominous trend in the bond markets.  The correlation between the 10 year yields and the 2 year yields has been shifting since the first part of 2016.  Typically the 10 year yields are trending higher than the 2 year yields.  As they start to move closer together, that tells us that a recession is in the near future.  In fact ,this trend can be seen all the way back to 2014.  Investors may be pondering when the next recession will happen.  In this week, we have several economic reports being released, and those may influence the markets, but more likely to have in impact will be next week's ECB announcement.  We may see an impact from the ISM manufacturing and non-manufacturing reports, as well as Wednesday's ADP and Friday's highly anticipated NFP report. 

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• 30 year (FRM) rates at 3.67% (+0.02%).
• 15 year (FRM) rates at 2.97% (+0.02%).
• FHA 30 year Fixed rates at 3.25% (0.00%).
• Jumbo 30 year Fixed rates at 3.51% (+0.01%).
• 5/1 ARM rates at 2.98% (+0.02%).