Mortgage Rates 5-5-15

What will mortgage interest rates do tomorrow? Mortgage professionals are voting in our daily poll. The Institute for Supply Management released its non-manufacturing purchasing managers index for April, which came in strongly at 57.8 vs. the forecasted 56.3. On the other hand, the US trade deficit jumped up 43% in March to $51.5 billion. The trade deficit data caused a small rally. The last important occurrence surrounded corporate debt. Abbvie made a $16.7 offering, which got more than $65 billion in bids. After the fluctuations caused by these pieces of data, mortgage rates have increased across the board, leading to new high yields and negaitve reprices from mortgage lenders.

Check back Wednesday for ADP national employment; Thursday for the weekly initial jobless claims; Friday all the April data will be released including non-farm payrolls, private payrolls, unemployment rate, manufacutirng payrolls, and average workweek hours.

Monday: The economic data released today was overlooked by MBS. Factory orders were slightly above forecast, at +2.1 instead of +2.0.  Also, the Chicago Fed President Evans said there will be a rate hike in 2016, which comes as no surprise. The real market mover came from European bond pressure. Mortgage rates have been increasing, which could cause lenders to reprice negatively.

Bookmark this page for daily mortgage updates:

• 30 year (FRM) rates at 3.89% (+0.05).
• 15 year (FRM) rates at 3.18% (+0.02).
• FHA 30 year Fixed rates at 3.75% (+0.25).
• Jumbo 30 year Fixed rates at 3.81% (+0.04).
• 5/1 ARM rates at 3.01% (+0.05).

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.