Mortgage Rates 8-20-15

By Lisa Robison Updated on 8/20/2015

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

Mortgage rates have dropped across the board today following the release of the FOMC minutes yesterday. The minutes revealed that the Fed rate hike will largely be dependent on data coming in relating to the domestic and global economy.  The Feds will very likely increase rates, however, there needs to be "some" improvement in the general economic outlook.  Data that the Fed is looking at includes job creation, inflation, and the possibility for oil prices to hit rock borttom and head back up again in March.  Today's data comes in the form of two or three important reports.  The release of Existing Home Sales, the Philly Fed Index, and the Jobless Claims have the ability to be market-movers today.       

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• 30 year (FRM) rates at 3.96% (-0.05%).
• 15 year (FRM) rates at 3.21% (-0.04%).
• FHA 30 year Fixed rates at 3.65% (-0.05%).
• Jumbo 30 year Fixed rates at 3.75% (-0.05%).
• 5/1 ARM rates at 2.97% (-0.03%).