Mortgage Rates 03-08-16

By Lisa Robison Updated on 3/8/2016

We finally see some green in the mortgage rates today after the last several days of higher rates.  This was undoubtedly caused by a surge in oil prices, coupled with the issuance of corporate debt early in the day yesterday.  It's important to remember that we are still operating at near all-time lows, and any major shift in the markets would leave borrowers wishing they had locked thier rate.   This scenario has occurred several times in recent years, namely 2009, 2010, 2013, and again in early 2015.  The MBS, as any other financial instrument, is bound to have it's ebbs and flows depending on the stance of market participants.  The focus this week is going to be primarily on the European Central Bank, as the data is light and not expected to provide a whole lot of inspiration this week.  Check back here tomorrow to get the most up to date mortgage news.    

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• 30 year (FRM) rates at 3.7% (-0.04%).
• 15 year (FRM) rates at 3.02% (-0.03%).
• FHA 30 year Fixed rates at 3.25% (0.00%).
• Jumbo 30 year Fixed rates at 3.57% (-0.04%).
• 5/1 ARM rates at 3.00% (-0.0-%).