Mortgage Rates 03-07-16

By Lisa Robison Updated on 3/7/2016

After several sideways days, mortgage rates are heading in an upward trend.  This is more of a pronounced bounce than a typical corrective or consolidation trend.  It appears that the rise in oil and stock prices is now hurting the bond market rather than helping, and also there has been a more than normal connection to the European Bond markets.  The Euro markets contributed to the Treasuries and MBS performing as well as they did during the second part of February.  As this connection is still strong, it will be interesting to see the effect of the ECB Announcement this Thursday.  On tap this week for domestic data is not a whole lot, being the 3 year note auction tomorrow, followed by the Mortgage Market Index, Wholesale Inventories and the10 Year Note Auction on Wednesday, and Thursday brings the Initial Jobless Claims, and  the 30 Year Bond Auction.  Friday we have the Import and Export Prices.  Check back here tomorrow for the most recent mortgage news and rates.        

Bookmark this page for daily mortgage updates:

• 30 year (FRM) rates at 3.76% (+0.03%).
• 15 year (FRM) rates at 3.04% (+0.02%).
• FHA 30 year Fixed rates at 3.25% (0.00%).
• Jumbo 30 year Fixed rates at 3.60% (+0.03%).
• 5/1 ARM rates at 3.02% (0.00%).