Mortgage Rates 4-1-15

What will mortgage interest rates do tomorrow? Mortgage professionals are voting in our daily poll. Two big market movers today have continued to push rates under. ADP employment was significantly lower than expected. It was 189k instead of the forecasted 225k. This is the first time since January 2014 that the ADP report is below 200k. The Institute for Supply Management report was weak as well. It came in at 51.5 instead of 52.5. This shows that manufacturing is expanding at its slowest pace since 2013. These weak reports were due to a variety of factors including the West Coast port issue, lower oil prices, the effects of a harsh winter, and the higher costs of healthcare premiums. Mortgage rates are retracing their steps to the lows of early last week.

Check back Thursday for international trade, initial jobless claims, and ISM-New York index; Friday for March's non-farm payrolls, private payrolls, average workweek hours, manufacturing payrolls, and unemployment rate mm.

Tuesday: Two important economic indicators were released today. The first was Chicago PMI for the month of March. It was weak--registering at 46.3 instead of the forecasted 51.5. Since it is below 50, that indicates contraction. Second, consumer confidence was overall better than expected. It registered at 101.3 instead of the predicted 96.4. Mortgage rates have decreased this morning in response. Trade levels have been fluctuating all morning so expect rates to continue to be volatile for the rest of the week.

Bookmark this page for daily mortgage updates:

• 30 year (FRM) rates at 3.73% (-0.02).
• 15 year (FRM) rates at 3.03% (-0.02).
• FHA 30 year Fixed rates at 3.40% (-0.10).
• Jumbo 30 year Fixed rates at 3.60% (-0.02).
• 5/1 ARM rates at 3.05% (-0.08).

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.