Mortgage Rates 7-09-15

By Lisa Robison Updated on 7/9/2015

What will mortgage interest rates do tomorrow? Mortgage professionals are voting in our daily poll.

Mortgage rates continue on their downward trend for July, even though today brought about a slight spike. This has been the trend across the board with stock prices, commodities, and global markets.  Greece still seems to be having a major impact  on the US interest rates, and we are waiting for an imminent deal with respect to Greece.  The upcoming several days may bring some interesting news out of the region.  MBS are doing better than Treasuries in today's selling, but mostly because they have seen a greater impact throughout the rally.     

It seems overall, that investors are moving away from risk, and this is good news for mortgage rates.  In reality, mortgage rates have benefitted from the increased competition for bonds, due to the fact that investors are being forced to accept smaller yields.  The turmoil abroad may just keep the Feds from implementing the rate hike expected to happen in the latter part of the year.

 

• 30 year (FRM) rates at 4.03 (-0.04%).
• 15 year (FRM) rates at 3.23% (-0.02%).
• FHA 30 year Fixed rates at 3.75% (0.00%).
• Jumbo 30 year Fixed rates at 3.84% (-0.02%).
• 5/1 ARM rates at 3.10% (+0.02%).