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Mortgage Rates Thursday, May 11: Higher on Favorable Economic News

May 11, 2017
Mortgage Rates, Mortgages
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Interest rates for 30-year fixed, 15-year fixed and 5/1 ARMs all moved slightly higher, according to a NerdWallet survey of current mortgage rates published by national lenders Thursday morning.

Mortgage rates are close to breaking out of a one-eighth-point range held for more than a month. Favorable news regarding the U.S. economy could provide the momentum to do just that.

Two economic reports released this morning — one a measure of inflation and the other a gauge of unemployment — both strengthened the case for the Federal Reserve to raise interest rates next month. Wholesale prices for products and some services sold in April ticked higher, while unemployment claims fell.

Movement of the 10-year Treasury note often provides a hint about mortgage rate trends, but yields were mostly unchanged this morning as traders contemplated their next move.


(Change from 5/10)
30-year fixed: 4.23% APR (+0.01)
15-year fixed: 3.59% APR (+0.03)
5/1 ARM: 3.86% APR (+0.01)

» MORE: How much home can you afford?

Homeowners looking to lower their mortgage rate can shop for refinance lenders here.

NerdWallet daily mortgage rates are an average of the published annual percentage rate with the lowest points for each loan term offered by a sampling of major national lenders. APR quotes reflect an interest rate plus points, fees and other expenses, providing the most accurate view of the costs a borrower might pay.

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Hal Bundrick is a staff writer at NerdWallet, a personal finance website. Email: [email protected]. Twitter: @halmbundrick.