Mortgage Rates 06-15-16

By Lisa Robison Updated on 6/15/2016

Today we saw mortgage rates again unchanged.  The bond markets started out slightly weaker, and then returned to unchanged levels after today's FOMC announcement.  At this point in time, very few expected a rate hike to be announced today.  We mainly were looking for Yellen to give any clues as to the forecasted hike, or give any reason for market participants to worry.  Today's announcement was bond-friendly, and business as usual ensued.  It seems that most onlookers are concerned with the timing of the next Fed rate hike, which may happen in July.  Until then, rates are continuing their holding pattern in the lower end of the recent trading range.  In terms of a rate lock consideration, it is probably a good time to lock, as we are still near 3 year lows.  Check back tomorrow for more mortgage news.  

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• 30 year (FRM) rates at 3.56% (+0.00%).
• 15 year (FRM) rates at 2.86% (+0.00%).
• FHA 30 year Fixed rates at 3.25% (+0.00%).
• Jumbo 30 year Fixed rates at 3.59% (+0.00%).
• 5/1 ARM rates at 2.93% (-0.01%).