Mortgage Rates 4-16-15

What will mortgage interest rates do tomorrow? Mortgage professionals are voting in our daily poll. There were three pieces of important economic data today. The Philly Fed manufacturing index showed that economic growth could be increasing in April with a reading of 7.5. That is above the forecasted reading of 6. In comparison, in March the reading was at 5. Also, jobless claims increased by 12,000, making this a six week high of 294,000. Construction on new homes rebounded by 2% in March at 926,000. This was below the predicted 1 million. MBS rallied after this data and pushed rates slightly higher, though not completely erasing the gains of yesterday. Expect rates to stay within a narrow range tomorrow.

Check back Friday there will be the Consumer Price Index and the Consumer Sentiment Report.

Wedneday: This morning has been flooded with negative data. After the positive reports from yesterday, there has been a complete reversal. The economy continues to take one step forward, and then another step back, without any real progress. MBS are not headed in a clear direction. The NY Fed Manufacturing Survey came in at -1.19 instead of the forecasted +7.0. Industrial Production was also lower than forecasted at -0.6 instead of -0.3. Mortgage rates have decreased across the board today.

Bookmark this page for daily mortgage updates:

• 30 year (FRM) rates at 3.65% (+0.01).
• 15 year (FRM) rates at 3.00% (+0.01).
• FHA 30 year Fixed rates at 3.30% (+0.05).
• Jumbo 30 year Fixed rates at 3.61% (+0.01).
• 5/1 ARM rates at 3.06% (+0.01).

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.