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Mortgage Rates 5-26-15

By Carolina Palmer Updated on 5/26/2015

What will mortgage interest rates do tomorrow? Mortgage professionals are voting in our daily poll. Even though this week will be short, the bond market action will likely make up for it. This week is packed with important economic data. For the past month, mortgage rates climbed to their highest rates of the year. Then last week they began stabilizing. This signals a calm before a volatile storm.

Today it was released that orders for durable goods decreased by 0.5% in April, which was predicted by economists. This caused bond prices to fall and rates to slightly increase. Consumer confidence rose to 95.4 in May after being 94.3 in April. The expected reading was 95.1. This had a positive effect on mortgage rates. After all the fluctuations caused by today's data, mortgage rates remain relatively unchanged.

Check back tomorrow for the 5-year note auction; Thursday for initial jobless claims and the 7-year note auction; Friday for GDP prelim for Q1 and Chicago PMI for May.

Friday: The Consumer Price Index came in strong this morning at +0.3 instead of the forecasted +0.2. The bond markets quickly reacted to this data, pushing mortgage rates slightly lower. Bond market liquidity has been forceful this morning, partially due to Memorial day weekend cutting today short. Yellen's speech at 1 pm ET will likely have a big impact on MBS. Expect mortgage rates to decrease in response.

Bookmark this page for daily mortgage updates:

  • 30 year (FRM) rates at 3.98% (0.00).
  • 15 year (FRM) rates at 3.23% (+0.01).
  • FHA 30 year Fixed rates at 3.75% (0.00).
  • Jumbo 30 year Fixed rates at 3.80% (0.00).
  • 5/1 ARM rates at 2.95% (-0.02).

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4.661%

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5.041%

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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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