Mortgage Rates 5-21-15

What will mortgage interest rates do tomorrow? Mortgage professionals are voting in our daily poll. MBS started rallying today. MBS started in positive territory and remained relatively unchanged after the jobless claims data. Initial jobless claims increased by 10,000 to a seasonally adjusted 274,000. Economists expected 271,000 new claims. Although applicants increased last week, unemployment benefits remain at historically low levels. 

The Philly Fed Index came in weaker than expected showing that regional manufacturing activity is increasing at a slower rate. It came in at 6.7 instead of the expected 8.0. 

Existing home sales data also came in weaker than expected. Existing home sales for April declined 3.3%. March was revised to 5.21 million from the intitially reported 5.19 million. Expect MBS purchases to go down tomorrow, which will push rates higher.

Check back Friday for core CPI index for April and core CPI mm for April.

Wednesday: The FOMC Minutes this afternoon will trigger an influx of trading. Until then, it will be a quiet day for bond markets. The European market will likely have a significant impact on MBS over the next few days, so keep an eye out for action overseas. Expect mortgage rates to decrease after the FOMC Minutes.

Bookmark this page for daily mortgage updates:

• 30 year (FRM) rates at 4.00% (-0.01).
• 15 year (FRM) rates at 3.24% (-0.01).
• FHA 30 year Fixed rates at 3.75% (0.00).
• Jumbo 30 year Fixed rates at 3.82% (0.00).
• 5/1 ARM rates at 2.97% (-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.