Mortgage Rates 7-30-15

By Lisa Robison Updated on 7/30/2015

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

Mortgage rates have moved up since yesterday slightly.  Bond markets experienced some weakness after the losses just following  the overnight session.  10 year yields came in at 2.322 as markets in Asia responded to yesterday's FOMC announcement.  German Bunds rallied nicely, however the weakness remained.  After the GDP announcement, domestic bond markets suffered in the short  term, however they began improving as investors reviewed the past 3 years of GDP revisions.  The end result is increased uncertainty over the short term path.  

The Federal announcement yesterday indicated an important change in the verbiage of the policy statement.  The result was an indication that the impending rate hike was contingent upon an improvement in the labor market.  We are still expecting to see the rates increase in the September or December timeframe.  

 

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• 30 year (FRM) rates at 4.03% (+0.01).
• 15 year (FRM) rates at 3.22% (+0.01).
• FHA 30 year Fixed rates at 3.75% (-0.00).
• Jumbo 30 year Fixed rates at 3.80% (+0.01).
• 5/1 ARM rates at 3.03% (10.01).