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Mortgage Rates 5-11-15

By Carolina Palmer Updated on 5/11/2015

What will mortgage interest rates do tomorrow? Mortgage professionals are voting in our daily poll. MBS opened the day in weaker territory due to the activity in Europe and corporate debt issuance. Specifically, Greece announced a 750 million euro payment to the IMF. Mortgage rates have decreased today, but rates are still high due to the bond sell-off that began early last week. The sell-off was shortly interrupted last Thursday and Friday, and then restarted again today. Expect MBS to stay in weaker territory tomorrow.

Check back Tuesday for the 3-year note auction; Wednesday for import prices, retail sales, and export prices from April as well as the 10-year note auction; Thursday for intital jobless claims, continued jobless claims, and the 30-year bond auction; Friday for Fannie Mae and Freddie Mac 15-year as well as NY Fed manufacturing.

Friday: The bond market is correcting itself after mortgage rates spiked earlier this week. We are seeing a rally that is pushing MBS into stronger territory. The weak NFP had a minimal effect on the direction of mortgage rates. Nonfarm payroll (NFP) increased by 223K in April, instead of the expected 228K. Expect mortgage rates to continue to decrease on Monday.

Bookmark this page for daily mortgage updates:

  • 30 year (FRM) rates at 3.87% (-0.08).
  • 15 year (FRM) rates at 3.17% (-0.05).
  • FHA 30 year Fixed rates at 3.75% (0.00).
  • Jumbo 30 year Fixed rates at 3.77% (-0.06).
  • 5/1 ARM rates at 3.00% (-0.02).

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About The Author:
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.

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