Mortgage Rates 5-4-15

What will mortgage interest rates do tomorrow? Mortgage professionals are voting in our daily poll. The economic data released today was overlooked by MBS. Factory orders were slightly above forecast, at +2.1 instead of +2.0.  Also, the Chicago Fed President Evans said there will be a rate hike in 2016, which comes as no surprise. The real market mover came from European bond pressure. Mortgage rates have been increasing, which could cause lenders to reprice negatively.

Check back Tuesday for international trade for March and ISM Non-manufacturing PMI; Wednesday for ADP national employment; Thursday for the weekly initial jobless claims; Friday all the April data will be released including non-farm payrolls, private payrolls, unemployment rate, manufacutirng payrolls, and average workweek hours.

Friday: 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.

Bookmark this page for daily mortgage updates:

• 30 year (FRM) rates at 3.84% (+0.02).
• 15 year (FRM) rates at 3.16% (+0.03).
• FHA 30 year Fixed rates at 3.50% (0.00).
• Jumbo 30 year Fixed rates at 3.77% (+0.02).
• 5/1 ARM rates at 2.96% (0.00).

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.