Mortgage rates today are higher than they have been in almost a month. The last two weeks have brought slow but steady movements upwards. Conventional 30 year fixed rates are widely being offered at 3.5% for top tier mortgage scenarios. This current week has trended sideways mainly, with today's early morning weakness stemming from ECB President Draghi's commentary on monetary policy. Bond markets saw a spike towards the end of the day, which may be the result of a "three day weekend" of sorts (with no data in the queue for tomorrow). Next week will likely bring some volatility, as we anticipate policy announcements from the Fed and the Bank of Japan. Check back tomorrow for more rate updates and mortgage market news.
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• 30 year (FRM) rates at 3.44% (+0.02%).
• 15 year (FRM) rates at 2.77% (+0.01%).
• FHA 30 year Fixed rates at 3.25% (+0.00%).
• Jumbo 30 year Fixed rates at 3.55% (+0.01%).
• 5/1 ARM rates at 2.87% (+0.02%).
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