Mortgage Rates 6-11-15

What will mortgage interest rates do tomorrow? Mortgage professionals are voting in our daily poll. The bond market is rallying and 30-year rates have hit their highest level of the year at 4.18%. Since bond yields increased earlier this week, it follows that mortgage rates are tracing their path.

Domestic data came in overwhelming positive. Retail sales gained 1.2% in May vs the expected 1.3% gain. After only increasing 0.2% in April, this is great news. Weekly jobless claims were right on target at 279,000 vs the expected 275,000. The 30-year bond auction this afternoon is a potential market mover. The never-ending increase in mortgage rates this week makes it clear that the Fed's June meeting will not entail hiking rates any further.

Check back Friday for US PPI Final Demand.

Wednesday: Mortgage rates are slightly higher today, but the cause is not clear. Rates have been on an upward spike for the past few weeks due to a combination of factors--signs that the US economy is improving, the greek debt deal, and a lack of liquidity, among other things. Mortgage rates seem to have no ceiling at this point. Now is not a good time to refinance. However, there is no guarantee that rates will go back to the lows of the beginning of this year.

Bookmark this page for daily mortgage updates:

• 30 year (FRM) rates at 4.18% (+0.05).
• 15 year (FRM) rates at 3.38% (+0.04).
• FHA 30 year Fixed rates at 3.75% (0.00).
• Jumbo 30 year Fixed rates at 3.99% (+0.05).
• 5/1 ARM rates at 3.05% (+0.05).

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.