Mortgage Rates 4-30-15

What will mortgage interest rates do tomorrow? Mortgage professionals are voting in our daily poll. MBS are still being pushed into weaker territory due to activity in Europe's bond market, although the effect is not as strong as it was yesterday. There were two pieces of economic data this morning, which were overall positive. Jobless claims came in at 262k instead of the forcasted 290k. Also, the Employment Cost Index indicated an increase in wage growth. It advanced 0.7% which has been the largest gain since Q3 of 2014.

Check back Friday for ISM manufacturing PMI for April and March's construction spending.

Wednesday: The economy grew very slowly in Q1. GDP only grew 0.2% vs the forecasted 1%. Compared to Q4 of 2014 when GDP gained 2.2%, this is a massive deceleration. Bond markets were already pushing into weaker territory by the time GDP was released. This was due to european debt selloff which made MBS less attractive. GDP has a minimal impact on the direction MBS were headed. As treasuries fell this has pushed yields to the highest level in six weeks.

Bookmark this page for daily mortgage updates:

• 30 year (FRM) rates at 3.84% (+0.05).
• 15 year (FRM) rates at 3.14% (+0.04).
• FHA 30 year Fixed rates at 3.50% (0.00).
• Jumbo 30 year Fixed rates at 3.75% (+0.06).
• 5/1 ARM rates at 2.97% (-0.02).

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.