Mortgage Rates 5-1-15

What will mortgage interest rates do tomorrow? Mortgage professionals are voting in our daily poll. The ISM manufacturing index for April came in relatively flat at 51.5% instead of the expected 52.2%. Any reading above 50% indicates growth, no matter how slow that growth may be. Additionally, MBS are at their weakest levels in a month and a half. The month of April saw mortgage rates stay within a narrow range.

Thursday: 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.

Bookmark this page for daily mortgage updates:

• 30 year (FRM) rates at 3.82% (-0.02).
• 15 year (FRM) rates at 3.13% (-0.01).
• FHA 30 year Fixed rates at 3.50% (0.00).
• Jumbo 30 year Fixed rates at 3.75% (0.00).
• 5/1 ARM rates at 2.96% (-0.01).

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.