Mortgage Rates on the Rise Pre-ECB Announcement?

By Stevie Duffin Updated on 1/21/2015

Mortgage bonds had a volatile morning, resulting in a new sideways effect. It's difficult to say where rates are heading, although the market weakness indicates rates could be on the rise. This week is anemic where meaningful domestic reports are concerned. For potential mortgage rate movers, check back tomorrow for jobless claims, and Friday for existing home sales.

This week's biggest news will come from Europe Thursday, when the European Central Bank (ECB) is expected to make some announcement about initiating their own bond buying program. In recent months, MBS trading has been taking its strongest cues from European activity, and it's likely we'll see the biggest domestic reaction from the foreign announcement. 

Bookmark this page for daily mortgage rate updates:

• 30 year (FRM) rates at 3.65% (+0.02).
• 15 year (FRM) rates at 3.01% (+0.01).
• FHA 30 year Fixed rates at 3.25% (0.00).
• Jumbo 30 year Fixed rates at 3.62% (+0.02).
• 5/1 ARM rates at 3.23% (+0.01).