Mortgage Rates 4-24-15

What will mortgage interest rates do tomorrow? Mortgage professionals are voting in our daily poll. Today, the durable good orders from March were released. The orders increased by 4.0% instead of the predicted 0.6%. This was mainly due to an increase in civilian aircraft orders. However, the core orders that exclude aircraft and military goods fell by 0.5%. The forecast for these internal components was a 0.3% improvement. The MBS gains have remained for the most part. There will likely be some action this afternoon ahead of next week's Fed meeting.

Thursday: Mortgage rates have spiked after selling off this morning. This sell off can be attributed to corporate bond action. Corporate bonds are an alternative, attractive investment to MBS. Investors have put down a surprisingly large amount of money totaling more than $70 billion for the AT&T corporate bond. There is a great desire to sell MBS to make space for this opportunity. By selling MBS, the issuer protects themselves from rates increasing during the corporate bond issuance process. Once the coporate bond is actually issued, investors will buy back some of the MBS they sold off. Check back Friday for durable good sales in March.

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• 30 year (FRM) rates at 3.72% (+0.01).
• 15 year (FRM) rates at 3.05% (+0.01).
• FHA 30 year Fixed rates at 3.40% (0.00).
• Jumbo 30 year Fixed rates at 3.65% (0.00).
• 5/1 ARM rates at 3.01% (-0.02).

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

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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.