Mortgage Rates 8-05-15

By Lisa Robison Updated on 8/5/2015

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

Mortgage rates have climbed up today from yesterday.  The highest jump being in the FHA 30 year loans, moving from 3.65% to 3.75%.  Last week was one of the best weeks for mortgage applications compared to the previous week, particularly among refinance applications.  The Mortgage Bankers Associations Market Composite Index reported that the volume of applications rose by 4.7%, and the refinances were up 6% from the previous week.  This was a reaction to lower rates last week.  MBA obtains the volume of applications from the Mortgage Application Survey, which spans 3/4 of the U.S. residential applications.  This survey, conducted since 1990 bases it's statistics off of LTV of 80%.  According to Lynn Fisher, MBA's VP of Research and Economics, refinance activity was the highest since May, when rates were at this level.  Last year at this time was also a good time for purchases, but this year showed a 23% increase over last year.  

 

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• 30 year (FRM) rates at 3.98% (+0.03%).
• 15 year (FRM) rates at 3.23% (+0.04%).
• FHA 30 year Fixed rates at 3.75% (+0.10%).
• Jumbo 30 year Fixed rates at 3.77% (+0.04%).
• 5/1 ARM rates at 3.00% (+0.03%).