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Mortgage Rates 5-12-15

By Carolina Palmer Updated on 5/12/2015

What will mortgage interest rates do tomorrow? Mortgage professionals are voting in our daily poll. Yesterday mortgage rates rose quickly, and MBS have been pushed into even weaker territory today. The main factor causing the sell-off is a lack of liquidity and trading for the sake of trading. Even small levels of trading are having an exaggerated effect on treasuries and MBS. Expect mortgage rates to continue to push higher.

Check back 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.

Monday: 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.

Bookmark this page for daily mortgage updates:

  • 30 year (FRM) rates at 3.98% (+0.11).
  • 15 year (FRM) rates at 3.24% (+0.07).
  • FHA 30 year Fixed rates at 3.75% (0.00).
  • Jumbo 30 year Fixed rates at 3.81% (+0.04).
  • 5/1 ARM rates at 3.00% (0.00).

Displaying rates for Mortgage Refinance in CA for $200,000

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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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