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Mortgage Rates 6-3-15

By Carolina Palmer Updated on 6/3/2015

What will mortgage interest rates do tomorrow? Mortgage professionals are voting in our daily poll. Mortgage rates shot up to some of the highest levels seen in 2015. This is mainly due to commentary from ECB President Draghi. In this morning's press conference he said the ECB would end purchases sooner than expected if conditions are favorable. This is only months after the ECB announced a new stimulus package.

In other news, the ISM data for May fell to 55.7 vs the expected 57.0. ADP National Employment shows that private sector employment increased to 201,000 positions in May. This is the best month since January.

Check back Thursday for initial jobless claims; Friday for non-farm payrolls, private payrolls, unemployment rate, manufacturing payrolls, and average workweek hours.

Tuesday: The main event affecting MBS this morning was news from Europe. Greece has issued a new debt deal proposal. There was a false alarm last week that there a new deal being put together. However, this time around the news came straight from the Prime Minister. Also, factory orders came in weak. They fell in April by 0.4% after increasing by 2.2% in March. Mortgage rates have responded by increasing across the board.

Bookmark this page for daily mortgage updates:

  • 30 year (FRM) rates at 4.04% (+0.07).
  • 15 year (FRM) rates at 3.27% (+0.05).
  • FHA 30 year Fixed rates at 3.75% (0.00).
  • Jumbo 30 year Fixed rates at 3.85% (+0.06).
  • 5/1 ARM rates at 3.00% (+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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