Mortgage Rates 3-23-15

What will mortgage interest rates do tomorrow? Mortgage professionals are voting in our daily poll. Rates have continued to lower over the course of the weekend. The existing home sales from February were released today. They rose 1.2% to an annual rate of 4.88 million units, which fell short of the forecast 4.9 million units. This is a gain of 4.7% compared to February of 2014 and marks the fifth consecutive month of positive year-over-year growth since 2013. Expect rates to continue to decrease tomorrow.

Check back Tuesday for February's new home sales and the 2-year note auction, Wednesday for durable goods and the 5-year note auction, Thursday for initial jobless claims and the 7-year note auction, and Friday for the Q4 GDP.

Friday: Trading activity has been light, leaving rates similar to the lows of yesterday. The futures expiration this afternoon should cause some trading activity. Since rates are at historic lows, now is a great time to refinance your mortgage. Homeowners who refinanced late 2014 will save about $5 billion in mortgage interest over the first 12 months of their loans.

Bookmark this page for daily mortgage updates:

• 30 year (FRM) rates at 3.74% (-0.01).
• 15 year (FRM) rates at 3.03% (-0.01).
• FHA 30 year Fixed rates at 3.30% (-0.05).
• Jumbo 30 year Fixed rates at 3.64% (-0.01).
• 5/1 ARM rates at 3.10% (0.00).

Displaying rates for Mortgage Refinance in CA for $200,000

Disclaimer

Carolina Palmer

Carolina Palmer is the Senior Editor at Lender411. She graduated from Concordia University Irvine with a Bachelor's Degree in Communication Studies and Marketing. She has multiple years of experience in marketing and writing, and has previously worked with 3D Systems and Microsoft.