Mortgage Rates 04-01-16

By Lisa Robison Updated on 4/1/2016

Rates are continuing to drop over the last several days.  As of the close yesterday, we were at the lowest rates that we had been in a month.  Of particular interest is the correlation between Yellen's Fed update and the frenzy immediately following with mortgage rates.  To add to the momentum is today's NFP report.  An increase in the number of jobs could be an indicator of a strengthening economy.  The focus is looking less at the amount of jobs, but rather the wage growth portion of the job report.  Another key factor at play now is the policy of the Central Bank.  Both Jobs data and Central Bank policy have been scrutinized for inspiration in the bond markets.  Check back on Monday to see the most recent mortgage rates and news. 

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• 30 year (FRM) rates at 3.71% (-0.03%).
• 15 year (FRM) rates at 2.97% (-0.03%).
• FHA 30 year Fixed rates at 3.25% (0.00%).
• Jumbo 30 year Fixed rates at 3.55% (-0.04%).
• 5/1 ARM rates at 2.95% (0.00%).