by Bill McBride on 5/05/2015 05:56:00 PM
Tuesday, May 05, 2015
• 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.Here is a table from Mortgage News Daily:
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.