Mortgage Rates 12-09-15

By Lisa Robison Updated on 12/9/2015

Mortgage rates are sllghtly higher today, and the bond markets seem to be in somewhat of a standard consolidation mode ahead of the Fed Meeting.  Bond markets started out the morning session in weaker territory after an uneventful overnight session.  The rise in oil prices, as well as stock prices put some pressure on the markets earlier in the day.  The 10-year treasuries and mortgage backed securities began to recover after the oil prices made a sudden move higher around 10:40 am this morning.  The 10 year auction resulted in an even stronger recovery for bonds.  The economic data released today was not significant enough to make an impact, so we can assume that bonds are following the auction and oil prices.  It is expected that we will continue to see bonds trading in a fairly narrow range, unless the retail sales report on Friday is remarkable.  Next week's meeting will be significant, due to the fact that the rate hike, if it happens, will be the first in almost ten years.  Check back tomorrow to see what mortgage rates due next.                   

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• 30 year (FRM) rates at 3.99% (+0.01%).
• 15 year (FRM) rates at 3.24% (+0.01%).
• FHA 30 year Fixed rates at 3.70% (+0.02%).
• Jumbo 30 year Fixed rates at 3.82% (+0.01%).
• 5/1 ARM rates at 2.99% (+0.02%).