30Y Mortgage Rate in 2015
30Y Mortgage Rate opened 2015 at 3.73% and closed at 4.01%, a +7.51% move for the year. The high of 4.09% was reached on July 16, and the low of 3.59% on February 5.
Monthly Breakdown
| Month | Open | Close | High | Low | Change |
|---|---|---|---|---|---|
| Jan | 3.73% | 3.66% | 3.73% | 3.63% | -1.88% |
| Feb | 3.59% | 3.80% | 3.80% | 3.59% | +5.85% |
| Mar | 3.75% | 3.69% | 3.86% | 3.69% | -1.60% |
| Apr | 3.70% | 3.68% | 3.70% | 3.65% | -0.54% |
| May | 3.80% | 3.87% | 3.87% | 3.80% | +1.84% |
| Jun | 3.87% | 4.02% | 4.04% | 3.87% | +3.88% |
| Jul | 4.08% | 3.98% | 4.09% | 3.98% | -2.45% |
| Aug | 3.91% | 3.84% | 3.94% | 3.84% | -1.79% |
| Sep | 3.89% | 3.86% | 3.91% | 3.86% | -0.77% |
| Oct | 3.85% | 3.76% | 3.85% | 3.76% | -2.34% |
| Nov | 3.87% | 3.95% | 3.98% | 3.87% | +2.07% |
| Dec | 3.93% | 4.01% | 4.01% | 3.93% | +2.04% |
Events During 2015
The PBoC devalued the yuan by 1.9% in a single day on August 11, 2015, the first meaningful devaluation since 1994. Global risk assets convulsed.
Brent crude fell from $115 in June 2014 to $27 in January 2016, a 77% collapse. Shale oversupply and OPEC's refusal to cut production broke the commodity supercycle that had dominated markets since 2003.
The Swiss National Bank abandoned its 1.20 EUR/CHF floor on January 15, 2015. The franc immediately surged 30%, blowing up retail FX brokers and exposing the fragility of exchange rate commitments.
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