Mortgage Rates 4-2-15

What will mortgage interest rates do tomorrow? Mortgage professionals are voting in our daily poll. The strong economic data presented today signals continued recovery in the US market. Jobless claims for last week are near their lowest level in 15 years. Weekly applications fell by 20,000 to a seasonally adjusted 268,000. As well, factory orders rose 0.2% for the first time in six months. Mortgage rates have continued to dip across the board. In relation to where mortgage rates began in 2015, they have held steady.

Check back Friday for March's non-farm payrolls, private payrolls, average workweek hours, manufacturing payrolls, and unemployment rate mm.

Wednesday: Two big market movers today have continued to push rates under. ADP employment was significantly lower than expected. It was 189k instead of the forecasted 225k. This is the first time since January 2014 that the ADP report is below 200k. The Institute for Supply Management report was weak as well. It came in at 51.5 instead of 52.5. This shows that manufacturing is expanding at its slowest pace since 2013. These weak reports were due to a variety of factors including the West Coast port issue, lower oil prices, the effects of a harsh winter, and the higher costs of healthcare premiums. Mortgage rates are retracing their steps to the lows of early last week.

Bookmark this page for daily mortgage updates:

• 30 year (FRM) rates at 3.65% (-0.08).
• 15 year (FRM) rates at 3.00% (-0.03).
• FHA 30 year Fixed rates at 3.30% (-0.10).
• Jumbo 30 year Fixed rates at 3.59% (-0.01).
• 5/1 ARM rates at 3.05% (0.00).

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.