Mortgage Rates 3-31-15

What will mortgage interest rates do tomorrow? Mortgage professionals are voting in our daily poll. Two important economic indicators were released today. The first was Chicago PMI for the month of March. It was weak--registering at 46.3 instead of the forecasted 51.5. Since it is below 50, that indicates contraction. Second, consumer confidence was overall better than expected. It registered at 101.3 instead of the predicted 96.4. Mortgage rates have decreased this morning in response. Trade levels have been fluctuating all morning so expect rates to continue to be volatile for the rest of the week.

Check back Wednesday for ADP national employment, ISM Manufacturing PMI, and construction spending; Thursday for international trade, initial jobless claims, and ISM-New York index; Friday for March's non-farm payrolls, private payrolls, average workweek hours, manufacturing payrolls, and unemployment rate mm.

Monday: The most significant market movers this week will be the conclusion of the month and Q1. February's Incomes and Outlays data released this morning shows that personal income rose $58.6 billion. Wages and salaries were up $23.9 billion in February and personal outlays (PCE, personal interest payments, and personal current transfer payments) rose $14.2 billion after falling $25.4 billion in January. Bonds rallied after this data was released. This was short-lived and there will be little movement ahead of the end-of-the-month reports this week.

Bookmark this page for daily mortgage updates:

• 30 year (FRM) rates at 3.75% (-0.04).
• 15 year (FRM) rates at 3.05% (-0.03).
• FHA 30 year Fixed rates at 3.50% (0.00).
• Jumbo 30 year Fixed rates at 3.62% (-0.05).
• 5/1 ARM rates at 3.13% (-0.03).

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

Disclaimer

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.