Mortgage Rates 7-23-15

By Lisa Robison Updated on 7/23/2015

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

Mortgage rates have moved down slightly again,  Today is a day to be watching the stock market.  The release of earnings reports and corporate debt could put pressure on the bond market. The phenomenon of the "stock lever" has been seen in concept and in reality since 1980.  It refers to the relationship between stocks and bonds having an up/down affect on eachother.  And while this pattern can tend to break down at times, most of the time, they have this see-saw effect, with one rising and the other falling.  We see the most movement in the "stock lever" during an earmings week, particularly when economic data is limited.  This week has been a good one for earnings.  

In the stock market, The Treasuries and the S&P are holding close together, even moreso than the typical Treasuries and German Bunds correlation.  We are still on the lookout for any large corporate debt issuance, as this could complicate things, such as the release of Intel's 6 billion dollar debt yesterday, which shifted the focus of investors to buy stocks instead of Treasuries.  

 

Bookmark this page for daily mortgage updates:

• 30 year (FRM) rates at 4.04% (-0.02).
• 15 year (FRM) rates at 3.23% (-0.01).
• FHA 30 year Fixed rates at 3.75% (-0.00).
• Jumbo 30 year Fixed rates at 3.80% (-0.03).
• 5/1 ARM rates at 3.03% (-0.02).