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Mortgage Rates 5-7-15

By Carolina Palmer Updated on 5/7/2015

What will mortgage interest rates do tomorrow? Mortgage professionals are voting in our daily poll. The jobless claims data was largely ignored today. First-time unemployment benefits are barely rising above a 15-year low. German bunds remain the dominating factor behind Treasury and MBS weakness. The 10-year bunds jumped to 0.80 overnight. To put that into perspective, they were at 0.05 two weeks ago. In response, MBS have started recovering from their weakness. Mortgage rates are no longer increasing at the rate they were earlier this week. Expect mortgage rates to decrease tomorrow.

Check back Friday all the April data will be released including non-farm payrolls, private payrolls, unemployment rate, manufacutirng payrolls, and average workweek hours.

Wednesday: ADP released employment for April today, which fell lower than expectations. There were 169,000 private sector jobs created in April instead of the predicted 205,000. Another factor pushing MBS into weaker territory is the German bund sell-off, which has been the largest in 10 years. Expect mortgage rates to continue to increase, as they have been doing so for the past week and a half.

Bookmark this page for daily mortgage updates:

  • 30 year (FRM) rates at 3.98% (+0.03).
  • 15 year (FRM) rates at 3.25% (+0.03).
  • FHA 30 year Fixed rates at 3.75% (0.00).
  • Jumbo 30 year Fixed rates at 3.85% (+0.02).
  • 5/1 ARM rates at 3.02% (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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