ECB Announces Stimulus Program; Mortgage Rates Rise

By Stevie Duffin Updated on 1/22/2015

The big news from Europe is in: Europen Central Bank (ECB) President Mario Draghi anounced this morning that the ECB will begin its own asset buying program this March. Every month, the ECB will purchase €60 billion in assets in order to stimulate the European economy. By fall 2016 the program is supposed to halt, when the €1 trillion asset mark will have be reached. MBS fell into weaker territory as a result, and we have seen and may continue to see mortgage interest rates rise. 

Today's news out of Europe is the biggest of the week where market movements is concerned, but for other potential mortgage rate movers, check back tomorrow for existing home sales.

Bookmark this page for daily mortgage rate updates:

• 30 year (FRM) rates at 3.69% (+0.04).
• 15 year (FRM) rates at 3.05% (+0.04).
• FHA 30 year Fixed rates at 3.25% (0.00).
• Jumbo 30 year Fixed rates at 3.65% (+0.03).
• 5/1 ARM rates at 3.25% (+0.02).