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Mortgage Rates 05-09-16

By Lisa Robison Updated on 5/9/2016

Mortgage rates are literally one day away from being able to claim the title of being at "Three Year Lows".  While the consolidation effort continues in the bond markets, we haven't seen an upward bounce yet.  The overnight session was quiet, and bonds rallied at a steady pace through the close of the domestic session.  Bonds cleared the only hurdle for the day with ease, which was the issuance of corporate debt.  Oil had a significant drop, which didn't have any effect on the bonds either.  We look to be following Europe, whose markets dropped lower during our overnight session.  In evaluating the technicals, it appears that we are due for a bounce, but today was not the day for it.  Check back tomorrow to get the latest updates in the mortgage rates and news.  

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• 30 year (FRM) rates at 3.61% (0.00%).
• 15 year (FRM) rates at 2.90% (0.00%).
• FHA 30 year Fixed rates at 3.25% (0.00%).
• Jumbo 30 year Fixed rates at 3.60% (+0.01%).
• 5/1 ARM rates at 3.02% (+0.02%).

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About The Author:
Lisa Robison
My name is Lisa Robison. I am an Associate Editor on Lender411com and lenderhomepagecom. I'd be happy to answer any question you have about our products and services.

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