Mortgage Rates 03-09-16

By Lisa Robison Updated on 3/9/2016

Bond markets are looking for footing ahead of tomorrow's announcement coming out of the European Central Bank.  Chinese data and a strong rally out of Japan are causing traders to move to short trading positions, meaning they are covering their losses, and betting that rates will increase.  In fact, a survey coming from JP Morgan this week showed that this week was the biggest week for a shift in trading positions since last November.  Due to the lack of relevant domestic market data, again we see bonds being caught looking for inspirations between the Oil/Stock prices and the European markets, who are rallying in hopes of a favorable announcement tomorrow.  Since these announcements can carry quite a bit of weight in the eyes of investors, we are literally waiting in the wings, ready to move in any direction.  Check back tomorrow for the market response to Draghi's announcement, and for the most up to date mortgage rates.         

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• 30 year (FRM) rates at 3.73% (-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% (-0.01%).