Mortgage Rates 12-07-15

By Lisa Robison Updated on 12/7/2015

Bond markets started the overnight session in weaker territory, but the trend did not continue.  The EU bond markets had a nice rally that started at 2am Eastern Time, however the effect on the US Treasury market was minimal.  The end result was a flat opening day.  There was initial weakness in the bond markets, but then a return to unchanged by 9:30am.  We've seen a rally since then in both the stocks and bond markets.  The reason for the rally is likely oil prices, as oil prices fell this morning, and are now at the lowest rate since late 2008.  We can conclude that the spike in yields last Thursday was probably a reaction to the ECB announcement that caused the numbers to go higher than they ordinarily would.   This week's reports are limited, as we anticipate the release of the FOMC announcement.  Today at 1:00pm is the 3 year note auction.  Tomorrow brings the MMI, Wholesale Inventory data, and the 10 year auction.  Thursday we have the Import/Export Prices, Initial Jobless Claims, and the 30 Year Bond Auction.  Friday brings the Retail Sales data, and the US PPI Final Demand MM.  Check back tomorrow for the latest mortgage news.      

Bookmark this page for daily mortgage updates:

• 30 year (FRM) rates at 4.03% (-0.04%).
• 15 year (FRM) rates at 3.25% (-0.03%).
• FHA 30 year Fixed rates at 3.72% (-0.03%).
• Jumbo 30 year Fixed rates at 3.85% (-0.05%).
• 5/1 ARM rates at 2.98% (-0.03%).