Tuesday, May 05, 2015

Mortgage News Daily: Mortgage Rates Near 2015 Highs, Several major Lenders at 4%

by Bill McBride on 5/05/2015 05:56:00 PM

Wednesday:
• At 7:00 AM ET, the Mortgage Bankers Association (MBA) will release the results for the mortgage purchase applications index.

• At 8:15 AM, the ADP Employment Report for April. This report is for private payrolls only (no government). The consensus is for 205,000 payroll jobs added in April, up from 189,000 in March.

• At 9:15 AM, Speech by Fed Chair Janet Yellen, Finance and Society, At the Institute for New Economic Thinking Conference on Finance and Society, Washington, D.C

From Matthew Graham at Mortgage News Daily: Mortgage Rates Dangerously Close to 2015 Highs

In terms of conventional 30yr fixed rate quotes, several major lenders are now up to 4.0%, even for top tier scenarios, though many remain at 3.875%. Just one short week ago, 3.625% was widely available.

In the broader context, there has only been one day in 2015 where rates were any higher. Before that, you'd need to go back to November to see higher rates.
Here is a table from Mortgage News Daily: