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Mortgage Rates 6-29-15

By Carolina Palmer Updated on 6/29/2015

What will mortgage interest rates do tomorrow? Mortgage professionals are voting in our daily poll. Mortgage rates have sharply increased today, which should come as no surprise considering the MBS trend for the past month. Over the weekend Greece closed its banks due to fears that the country is headed towards default. This is sending shock waves throughout global markets.

The domestic data released today is of secondary importance. The Pending Home Sales Index for May came in at 112.6, this is an increase from 112.4 in April. The Dallas Fed Survey for June came in at -7.0, which is better than the expected -13.5. This positive slant is not nearly enough to counteract the Greek turmoil. This week should prove to be very volatile for MBS due to Greece and the holiday weekend.

Check back Tuesday for Chicago PMI and consumer confidence; Wednesday for ADP National Employment, ISM Manufacturing PMI, and construction spending; Thursday for non-farm payrolls, private payrolls, June's unemployment rate, initial jobless claims, and ISM-New York index.

Friday: Mortgage rates have been largely flat this week and that trend continues today. Greek drama is to blame for some of the MBS weakness, but it is not the only culprit. The lack of liquidity is an ongoing problem. There are a lot of headlines indicating that Greece will finalize a debt deal over the weekend. Although this could very well be more hype and speculation that doesn't come to fruition. The only sure thing is that Greek news is making waves until we get some riveting econ data next week.

Bookmark this page for daily mortgage updates:

  • 30 year (FRM) rates at 4.20% (+0.06).
  • 15 year (FRM) rates at 3.37% (+0.04).
  • FHA 30 year Fixed rates at 3.85% (+0.10).
  • Jumbo 30 year Fixed rates at 3.98% (+0.05).
  • 5/1 ARM rates at 3.15% (+0.02).

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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