Mortgage Rates 8-11-15

By Lisa Robison Updated on 8/11/2015

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

Mortgage rates have climbed up slightly across the board today.  Mortgage Backed Securities are at thier highest yields since early June, and Treasury yileds are at thier lowest.  Longer maturities typically out perform shorter maturities, as seen in the statistics.  For example, 30 year yields are outperforming the 2 year yields, which are at the highest point since 2011.  More importantly in the mortgage news is China's currency devaluation.  This could be interpreted by some as an attempt to avoid a growth slowdown in China.  There is no doubt that the Chinese economy is struggling.  The strength of the US currency in respect to the global currency may affect the impending Federal rate hike, which is likely to occur in the September - December timeframe.  There isn't anything on the economic calendar today, so expect news headlines and corporate debt issuance to have a relatively large impact on the rates today.

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