Forgotten Your Password?

Need to Register?

Mortgage Rates May Start March on a High Note

By Stevie Duffin Updated on 3/2/2015

MBS are in weaker territory today, despite this morning's weak ISM data. Typical end-of-month corporate debt issuance is partially to blame. For now, watch for rising mortgage interest rates. 

For more potential mortgage market movers, check back Tuesday for ISM New York, Wednesday for ADP national empoyment and ISM PMI, Thursday for jobless claims, and of course Friday for February's big jobs report. 

Friday: Mortgage bonds were stronger this morning, aided in part by a veritably weak Chicago PMI reading. Hitting its lowest levels since February 2009, Chicago PMI came in at 45.8, far below the expected 58 and a grim fall from January's 59.4. Keep in mind that any reading over 50 marks upturn and expansion; readings below 50 point to decline. 

GDP data was mixed, but considering its alignment with expectations did little to boost MBS buying. This fourth-quarter 2014 reading showed 2.2 percent expansion and 2014 as a whole averaged 2.4 percent, at least higher than the previous three years' average of 2.2 percent. For now, watch for falling mortgage interest rates. Bookmark this page for daily mortgage rate updates:

  • 30 year (FRM) rates at 3.77% (-0.02).
  • 15 year (FRM) rates at 3.08% (-0.01).
  • FHA 30 year Fixed rates at 3.50% (0.00).
  • Jumbo 30 year Fixed rates at 3.77% (-0.01).
  • 5/1 ARM rates at 3.12% (-0.01).

Displaying rates for Mortgage Refinance in CA for $200,000

Related Searches:
About The Author:
Stevie Duffin
Stevie is the Senior Editor at Lender411. She manages the site's Authorship Program and social media pages. Stevie graduated from UC Santa Barbara with a BS. Contact her: stevie@lender411com.

Didn't find the answer you wanted? Ask one of your own.

Get an answer

Related Articles

Subscribe to our news feed.