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Mortgage Rates 5-13-15

By Carolina Palmer Updated on 5/13/2015

What will mortgage interest rates do tomorrow? Mortgage professionals are voting in our daily poll. Extreme MBS fluctuations continue their crash course today. This erratic behavior is mainly due to overseas action, which is overshadowing domestic economic data. Before April, the 2015 bond markets were fairly stable. European bond weakness has pushed the US bond market into negative territory. MBS and treasuries have been closely following German bunds.

The April retail sales report fell short of expectations--excluding autos and gas, retail sales rose 0.2% instead of the forecasted 0.6%. Most lenders have or will be repricing for the worst.

Check back 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.

Tuesday: 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.

Bookmark this page for daily mortgage updates:

  • 30 year (FRM) rates at 4.02% (+0.04).
  • 15 year (FRM) rates at 3.26% (+0.02).
  • FHA 30 year Fixed rates at 3.75% (0.00).
  • Jumbo 30 year Fixed rates at 3.83% (+0.02).
  • 5/1 ARM rates at 2.97% (-0.03).

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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