Mortgage Rates 8-10-15

By Lisa Robison Updated on 8/11/2015

What will mortgage rates do this week?  Mortgage professionals are voting in our daily poll.

Bond markets have been doing relatively well over the last several weeks.  Because of this trend, there are questions about a potential pullback.  The reason for this is that the longer a particular market is over-bought or over-sold, the bigger the risk of a pull in the opposing direction.  This kind of four-week streak only occurs about once a year, typically following a spike in interest rates.  While this current run did not follow a spike in rates, such as the one we saw in October 2014, there is still the chance that there will be a week or so of corrections.  Mortgage Backed Securities data, which has a great impact on mortgage rates has rallied, as expectations of a Federal rate increase have caused short term increases in the interest rate.  This week's economic calendar is very light, at least for the first three days. While the economic outlook is uncertain, there is the high probability that there will be a pull-back in the bond markets.  This is historically very normal, and won't necessarily impact the big picture trend.

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• 30 year (FRM) rates at 3.98% (-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 3.77% (-0.02%).
• 5/1 ARM rates at 3.00% (-0.02%).