Mortgage Rates 03-17-16

By Lisa Robison Updated on 3/17/2016

Today may actually mark the end of the negative momentum in the bond markets.  The day started off on the heels of yesterday's post-fed rally.  Today's economic data came out stronger than was expected, and we are still holding our ground.  Of course, it would take a bit more than 24 hours of positive improvement to be a trend, but the point is that the shift has begun.  The message behind the FED announcement yesterday was that the focus has shifted slightly.  There was an acknowledgement of progress in inflation numbers, and well as a heavier focus placed on the labor market, while downgrading concerns on global growth.  The mortgage markets focused their attention on the fact that the economic projections warranted a slowing of rate hikes.  Instead of the initial estimate of four hikes in 2016, perhaps there will be only two.  Check back tomorrow for more up to date mortgage rate news.   

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• 30 year (FRM) rates at 3.76% (-0.05%).
• 15 year (FRM) rates at 3.03% (-0.04%).
• FHA 30 year Fixed rates at 3.32% (-0.03%).
• Jumbo 30 year Fixed rates at 3.60% (-0.04%).
• 5/1 ARM rates at 3.00% (-0.03%).