Mortgage Rates 5-28-15

What will mortgage interest rates do tomorrow? Mortgage professionals are voting in our daily poll. Treasuries and corporate debt continue to be the main factors pushing liquidity. Today's economic data has made a small dent in MBS. Jobless claims came in weaker than predicted. US jobless claims rose to a five-week high of 282,000 last week. Economists expected claims to fall to 270,000. Conversely, pending home sales reached their highest level in 9 years. This shows a strong increase in demand in the housing sector. The pending home sales index increased 3.4% in April after it was expected to increase only 1%.

Keep in mind that trading has been rather disconnected from economic data lately. The markets seem to be halted as we near the end of the month and await next week's data both domestically and abroad.

Check back Friday for GDP prelim for Q1 and Chicago PMI for May.

Wednesday: MBS started the day in weaker territory. After news leaked that Greece was close to finishing a debt deal, there was a sudden spike in selling and yields quickly rose. This information seemed suspicious, but the markets rolled with it. Soon after, an EU official said that they could not confirm that a debt deal is being arranged. The selling quickly haulted after this revelation, and yields stopped increasing. Keep an eye out for the 5-year note auction at 1 p.m. It will likely have a significant impact after the bond market fluctuations this morning.

Bookmark this page for daily mortgage updates:

• 30 year (FRM) rates at 3.97% (0.00).
• 15 year (FRM) rates at 3.22% (0.00).
• FHA 30 year Fixed rates at 3.75% (0.00).
• Jumbo 30 year Fixed rates at 3.78% (-0.01).
• 5/1 ARM rates at 3.00% (+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.