Just as we expected, Monday was quite slow in terms of trading volume, but also volatile at the same time. Mortgage rates didn’t have any significant change, although a few lenders were displaying some weaker rates. Contrary to yesterday, Tuesday brings us a number of important economic data both from Europe and the U.S., that overall may have a bigger impact on mortgage interest rates.

Due to the rebound in consumer spending, U.S. Retail Sales for July increased 0.8%, which is more than what economists had forecasted, the Commerce Department said on Tuesday. The current data marks the first gain in the last four months, showing a positive sign for the U.S. economy. As a consequence of better retail sales and rise in consumer spending, stock markets around the world may rally today, which isn’t particularly a good sign for mortgage rates.

On the other hand, the latest economic reports from the Eurozone suggest that the EU-27 posted a 0.2% decline in economic growth in Q2 2012, which marks the second straight quarter of shrinking output. Germany posted a modest economic growth of 0.3% in the same period, better than the 0.2% uptick forecasted by economists. At the same time, the French economy stagnated in the second quarter of 2012.

Looking at the U.S. mortgage rates, Charlotte-based mortgage lender Bank of America (NYSE:BAC) advertises the benchmark 30-year fixed rate mortgage for home refinancing at a daily low of 3.875% which features an APR of 4.025%. The 15-year fixed option, which could be ideal choice for those who want to refinance their existing loan over a shorter-term, has an asking rate of 3.000% and bears an APR figure of 3.262%.

Bank of America’s adjustable rate mortgage (ARM) deals had no significant changes coming to Tuesday, with the 7/1 ARM starting at 2.750% and an APR sum of 3.240%, whilst the 5-year ARM package can be locked in at a rate of 2.500% plus an APR variable of 3.205%.

Fixed rate mortgages at TD Bank (NYSE:TD) retained their strength from last week, as we noticed only fractional fluctuations regarding interest rates. The 30-year FRM at TD Bank currently demands 3.750% in interest and it’s accompanied by an annual percentage rate of 3.800%. The 15-year version of this type of loan can be taken out at a rate of 3.000% with an APR amounting to 3.088%.

Refinance mortgage rates at Chase (NYSE:JPM) showed some improvement last week. However, in line with the recent hikes in national averages, the 30-year fixed rate loan has been raised to 3.750% which has an APR of 3.842%. Interestingly, the 15-year FRM has remained firm, and it’s coming out at 2.875% plus an APR sum of 3.054%.

Likewise, ARM packages may garner some attention from borrowers, with Chase’ 7/1 ARM now carrying a rate of 2.750% and an APR variable of 3.123%. The shorter 5/1 version of this loan is up for grabs at a rate of 2.500% and yields to an APR figure of 3.108% as of Tuesday.

For more information on current mortgage rates, please head over to lenders’ websites.