Mortgage Rates 6-15-15

What will mortgage interest rates do tomorrow? Mortgage professionals are voting in our daily poll. This morning was marked by weak economic data. The New York Fed's Empire State Manufacturing came in at -1.98 instead of the forecasted +6.0. Industrial Production data came in at -0.2 instead of +0.2. Rates haven't moved much since friday. The drop in rates last Friday has actually pushed some lenders to negatively reprice. This Wednesday is one of the most important days of the year with the FOMC rate decision coming up. It is unlikely they will be increasing rates, but no matter which way the decision goes, it will have a big effect on MBS.

Check back Tuesday for housing starts in May and building permits in May; Wednesday for Ginnie Mae 30-year and the FOMC rate decision; Thursday for core CPI for May, initial jobless claims, continued jobless claims, and Philly Fed Business Index.

Friday: 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.

Bookmark this page for daily mortgage updates:

• 30 year (FRM) rates at 4.12% (+0.01).
• 15 year (FRM) rates at 3.31% (-0.01).
• FHA 30 year Fixed rates at 3.75% (0.00).
• Jumbo 30 year Fixed rates at 3.94% (0.00).
• 5/1 ARM rates at 3.05% (+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.