Mortgage Rates 7-21-15

By Lisa Robison Updated on 7/21/2015

What will mortgage interest rates do tomorrow? Mortgage professionals are voting in our daily poll.

Mortgage rates have jumped up higher today, although they are still trading within a narrow range.  After 9:00am, rates dropped sharply, and Mortgage Backed Securities have rallied nicely.  The only issue is that everything is happening on a small scale range.  It's hard to really say what is motivating the mortgage market at this point. It appears that the lack od corporate debt issuance has been a key factor.  

Mortgage rates had been climbing for the better part of 2015, and reached a peak in June.  On two separate occasions, we have reached those levels, most recently last Monday morning.  The momentum for bond markets has gone stale due to the summer vacation trend.   

Check back tomorrow for ADP National Employment, ISM Manufacturing PMI, and construction spending; Thursday for non-farm payrolls, private payrolls, June's unemployment rate, initial jobless claims, and ISM-New York index.

 

Bookmark this page for daily mortgage updates:

• 30 year (FRM) rates at 4.08% (+0.01).
• 15 year (FRM) rates at 3.26% (+0.01).
• FHA 30 year Fixed rates at 3.75% (-0.00).
• Jumbo 30 year Fixed rates at 3.85% (+0.01).
• 5/1 ARM rates at 3.08% (+0.01).