Mortgage Rates 6-2-15

What will mortgage interest rates do tomorrow? Mortgage professionals are voting in our daily poll. The main event affecting MBS this morning was news from Europe. Greece has issued a new debt deal proposal. There was a false alarm last week that there a new deal being put together. However, this time around the news came straight from the Prime Minister. 

Also, factory orders came in weak. They fell in April by 0.4% after increasing by 2.2% in March. Mortgage rates have responded by increasing across the board.

Check back Wednesday for the ADP national employment, international trade, and ISM non-manufacturing PMI; Thursday for initial jobless claims; Friday for non-farm payrolls, private payrolls, unemployment rate, manufacturing payrolls, and average workweek hours.

Monday: The ISM manufacturing index for May hit 52.8. Also, US construction spending increased by 2.2% in April. It has reached its highest level in 6.5 years. This strong data increased the selling of MBS and led to widespread negative repricing. If this week continues to bring positive economic data, this could push the Fed to hike rates sooner rather than later. September is the month set for this hike.

Bookmark this page for daily mortgage updates:

• 30 year (FRM) rates at 3.97% (+0.04).
• 15 year (FRM) rates at 3.22% (+0.03).
• FHA 30 year Fixed rates at 3.75% (+0.15).
• Jumbo 30 year Fixed rates at 3.79% (+0.04).
• 5/1 ARM rates at 2.98% (+0.02).

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.