Mortgage Rates 03-02-16

By Lisa Robison Updated on 3/2/2016

Bond markets got hit from several different angles yesterday.  The ISM report that was released at 10:00am, prompted a surge of weakness bond markets.  Oil as well as stocks started to perform well also, adding pressure to the bond markets.  The S&P gained over 40 points yesterday.  There is also the fact that the first of month is time when most traders take on new positions for the month, typically designed to increase profit and minimize risk, this can have an impact on trade flows.  To add insult to injury, the issuance of new corporate debt is also contributing to the weakness in the bond markets.  The remaining data for the week will fine-tune the big picture, particularly today's ADP National Employment data, and NFP on Friday.  Check back tomorrow for the most up to date morgage rates.      

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• 30 year (FRM) rates at 3.70% (+0.04%).
• 15 year (FRM) rates at 2.99% (+0.03%).
• FHA 30 year Fixed rates at 3.25% (0.00%).
• Jumbo 30 year Fixed rates at 3.54% (+0.04%).
• 5/1 ARM rates at 3.00% (+0.04%).