Mortgage Rates 11-19-15

By Lisa Robison Updated on 11/19/2015

Mortgage rates are slightly higher today, with the exception of the 30 Year Fixed rates and the 5/1 Adjustable rates, which remained the same.  The FOMC minutes released yesterday revealed that the Fed is beginning to think about a longer term big picture that models that economic change that we have already seen in Japan and Europe.  The change would implement rates "at or near zero" due to several factors, including a decline in birth rates, aging population, and lack of overall economic progress.  It is difficult to speculate when and if this shift will actually take place, but at the very least, it is on the radar for the Fed.  The logical response in the bond market would be to buy long term bonds and sell short term bonds.  As such, 2 year yields are slightly higher today, and 30 year yields are significantly lower.  In the short term, at least, we can expect rates to prepare for a short term hike, and with the holiday week approaching, it may happen slower than usual.  Check back tomorrow for more mortgage news.            

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• 30 year (FRM) rates at 4.02% (+0.01%).
• 15 year (FRM) rates at 3.24% (+0.01%).
• FHA 30 year Fixed rates at 3.75% (0.00%).
• Jumbo 30 year Fixed rates at 3.85% (+0.01%).
• 5/1 ARM rates at 3.00% (0.00%).