Mortgage Rates 8-26-15

By Lisa Robison Updated on 8/26/2015

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

Rates are on the move upward today, a bond corrections continue.  Bond markets have over a month of improvements to make.  Bond selling was also spurred by Durable Goods data, which came in higher than expected.  The big picture is still driving the market for the time being, unless the 5 year auction, set for 1:00pm today has any impact.  All of this recent volatility is not just because it's summertime lack of liquidity.  What is important now is the questions of whether or not there is an impending downturn in the domestic economic cycle.  Historically, there is pattern of years ending in 3 or 8 being of significance.  The last four cycles have bottomed out at 1993, 1998, 2003, and 2008.  The low rates of 2013 were the result of different reasons than the previous cycles.  It could be speculated that the downturn is overdue, and we may be seeing the beginning of the next major dip.  This is a once in a while occurence when stocks, bonds, growth take a downward turn at the same time.  

 

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• 30 year (FRM) rates at 3.96% (+0.06%).
• 15 year (FRM) rates at 3.21% (+0.05%).
• 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 3.00% (+0.02%).