Mortgage Rates 07-15-16

By Lisa Robison Updated on 7/15/2016

Mortgage rates have been climbing this week, which was predicted after the landslide we had seen previously.  Today was a little uncharacteristic, in that bond movement suggested a move higher in rates, and the mortgage rates held relatively steady.  This is a small victory in the grand scheme of this week's shift in momentum, but time will tell how far the rates will go up.  Today we saw two reports come out this morning that were not bond friendly.  The first one being the Core CPI data, which rose from 2.2 to 2.3, and also the Retail Sales report, coming in at .06 percent VS the forecasted +.01.  Consumer Sentiment came in weaker than anticipated, but the focus today was really on the inflation data.  The afternoon brought some disparaging news out of Turkey,  with talk of a military coup.  Being late in the afternoon, the markets didn't have much time to react, so we will have to wait until Monday.  Check back here next week for the most up to date mortgage news and rates.  

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• 30 year (FRM) rates at 3.42% (+0.00%).
• 15 year (FRM) rates at 2.76% (+0.00%).
• FHA 30 year Fixed rates at 3.25% (+0.00%).
• Jumbo 30 year Fixed rates at 3.55% (+0.01%).
• 5/1 ARM rates at 2.86% (+0.01%).