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Mortgage Rates 6-16-15

By Carolina Palmer Updated on 6/16/2015

What will mortgage interest rates do tomorrow? Mortgage professionals are voting in our daily poll. MBS and treasuries are consolidating ahead of the Fed meeting tomorrow; they are positively skewed. 30-year FRM, 15-year FRM, and 30-year FHA remain the same as yesterday. They will not budge ahead of tomorrow's meeting. Jumbo 30-year and 5/1 ARM have dropped by 0.01. Expect rates to drop after tomorrow's Fed meeting. The Fed is unlikely to raise interest rates tomorrow since rates have already been spiraling upwards.

Check back Wednesday for Ginnie Mae 30-year and the FOMC rate decision; Thursday for core CPI for May, initial jobless claims, continued jobless claims, and Philly Fed Business Index.

Monday: This morning was marked by weak economic data. The New York Fed's Empire State Manufacturing came in at -1.98 instead of the forecasted +6.0. Industrial Production data came in at -0.2 instead of +0.2. Rates haven't moved much since friday. The drop in rates last Friday has actually pushed some lenders to negatively reprice. This Wednesday is one of the most important days of the year with the FOMC rate decision coming up. It is unlikely they will be increasing rates, but no matter which way the decision goes, it will have a big effect on MBS.

Bookmark this page for daily mortgage updates:

  • 30 year (FRM) rates at 4.12% (0.00).
  • 15 year (FRM) rates at 3.31% (0.00).
  • FHA 30 year Fixed rates at 3.75% (0.00).
  • Jumbo 30 year Fixed rates at 3.93% (-0.01).
  • 5/1 ARM rates at 3.04% (-0.01).

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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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