Mortgage Rates 5-27-15

What will mortgage interest rates do tomorrow? Mortgage professionals are voting in our daily poll. MBS started the day in weaker territory. After news leaked that Greece was close to finishing a debt deal, there was a sudden spike in selling and yields quickly rose. This information seemed suspicious, but the markets rolled with it. Soon after, an EU official said that they could not confirm that a debt deal is being arranged. The selling quickly haulted after this revelation, and yields stopped increasing. Keep an eye out for the 5-year note auction at 1 p.m. It will likely have a significant impact after the bond market fluctuations this morning.

Check back Thursday for initial jobless claims and the 7-year note auction; Friday for GDP prelim for Q1 and Chicago PMI for May.

Monday: Even though this week will be short, the bond market action will likely make up for it. This week is packed with important economic data. For the past month, mortgage rates climbed to their highest rates of the year. Then last week they began stabilizing. This signals a calm before a volatile storm. Today it was released that orders for durable goods decreased by 0.5% in April, which was predicted by economists. This caused bond prices to fall and rates to slightly increase. Consumer confidence rose to 95.4 in May after being 94.3 in April. The expected reading was 95.1. This had a positive effect on mortgage rates. After all the fluctuations caused by today's data, mortgage rates remain relatively unchanged.

Bookmark this page for daily mortgage updates:

• 30 year (FRM) rates at 3.97% (-0.01).
• 15 year (FRM) rates at 3.22% (-0.01).
• FHA 30 year Fixed rates at 3.75% (0.00).
• Jumbo 30 year Fixed rates at 3.79% (-0.01).
• 5/1 ARM rates at 2.98% (+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.