Mortgage Rates 7-27-15

By Lisa Robison Updated on 7/27/2015

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

Mortgage rates have dropped slightly, with the exception of the 5/1 ARM, which has crawled up slightly. The amount of home sales is just short of hitting numbers seen before the recession, however one segment of the population is holding off on buying.  This is the Foreign investors.  This segment of buyers has dropped by 19 percent., according to the National Association of Realtors.  Interest rates are half a percent lower than they were this time last year, but even so, these figures on foreign buyers still exist.  The NAR mentions that this is the result of the american currency strength.  

A study conducted by CoreLogic shows that the United States dollar has appreciated when compared to most currencies, such as the Euro, Canadian dollar, UK Pound, and the Chinest Yuan.  The increase has been significant cince January 2014.  According to Econimist Frank Nothaft, most recent foreign buyers have originated out of Canada, composing roughly 65 percent of the buyers.  The dollar value will continue to fluctuate, and information coming out of China and Greece will be a factor in global currency levels as well. 

 

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• 30 year (FRM) rates at 4.02% (-0.01).
• 15 year (FRM) rates at 3.21% (-0.01).
• FHA 30 year Fixed rates at 3.75% (-0.00).
• Jumbo 30 year Fixed rates at 3.79% (-0.01).
• 5/1 ARM rates at 3.04% (-0.02).