Mortgage Rates 03-16-16

By Lisa Robison Updated on 3/16/2016

Yesterday the Fed began the process of finalizing the details of today's policy announcement.  The data to be released this morning won't be a major factor in the decision, but will matter over the large scale picture. The announcement today will contain the up to date economic projections from hte members.  These indicators can serve to provide insight as to when the Fed rate hikes are likely to occur.  The most recent announcement showed that 14 out of 17 members thought that the Fed Funds Rate would be at 1.4 or less by the end of the year.  It will be interesting to see whether or not the recent turmoil of 2016 year has shaken the stance of the Feds since December.  Check back tomorrow to get the mortgage market response to the announcement, as well as the most up to date mortgage news. 

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• 30 year (FRM) rates at 3.83% (+0.01%).
• 15 year (FRM) rates at 3.09% (+0.01%).
• FHA 30 year Fixed rates at 3.25% (0.00%).
• Jumbo 30 year Fixed rates at 3.65% (+0.01%).
• 5/1 ARM rates at 3.02% (-0.03%).