Mortgage Rates 6-12-15

What will mortgage interest rates do tomorrow? Mortgage professionals are voting in our daily poll. US rates have been following the path of EU rates today, which ultimately pushed them lower. However rates are still at their highest levels of the year. Home loan applications are on the rise as reported by the Mortgage Bankers Association. This indicates that the spring buying season is picking up, even as rates are increasing. Next week we have the Fed press conference, which will be a big market mover. Expect rates to stay the same ahead of the Fed meeting.

Thursday: 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.

Bookmark this page for daily mortgage updates:

• 30 year (FRM) rates at 4.11% (-0.07).
• 15 year (FRM) rates at 3.32% (-0.06).
• FHA 30 year Fixed rates at 3.75% (0.00).
• Jumbo 30 year Fixed rates at 3.94% (-0.05).
• 5/1 ARM rates at 3.04% (-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.