Mortgage Rates 3-24-15

What will mortgage interest rates do tomorrow? Mortgage professionals are voting in our daily poll. Rates have continued to decrease, except for the 5/1 ARM rates which increased by 2 points. The consumer price index was released for February which rose for the first time in four months. It increased 0.2% over the prior month signaling that the economy is recovering. The data from new home sales in February was also positive. These sales climbed to the highest level in seven years at 7.8%. This spring looks to be a promising season for the housing market and MBS.

Check back Wednesday for durable goods and the 5-year note auction, Thursday for initial jobless claims and the 7-year note auction, and Friday for the Q4 GDP.

Monday: Rates have continued to lower over the course of the weekend. The existing home sales from February were released today. They rose 1.2% to an annual rate of 4.88 million units, which fell short of the forecast 4.9 million units. This is a gain of 4.7% compared to February of 2014 and marks the fifth consecutive month of positive year-over-year growth since 2013. Expect rates to continue to decrease tomorrow.

Bookmark this page for daily mortgage updates:

• 30 year (FRM) rates at 3.72% (-0.02).
• 15 year (FRM) rates at 3.02% (-0.01).
• FHA 30 year Fixed rates at 3.25% (-0.05).
• Jumbo 30 year Fixed rates at 3.63% (-0.01).
• 5/1 ARM rates at 3.12% (+0.02).

Displaying rates for Mortgage Refinance in CA for $200,000

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Carolina Palmer

Carolina Palmer is the Senior Editor at Lender411. She graduated from Concordia University Irvine with a Bachelor's Degree in Communication Studies and Marketing. She has multiple years of experience in marketing and writing, and has previously worked with 3D Systems and Microsoft.