Mortgage Rate Update 10 14 14

By Stevie Duffin Updated on 10/14/2014

Strong mortgage bond market gains over the weekend - the strongest in a while, in fact - resulted in significant drops for mortgage interest rates. Now bonds are edging back a bit so it's a great time to lock in case rates find themselves creeping back up. For other potential market movers this week, keep an eye out for retail sales and Empire State manufacturing tomorrow, initial jobless claims, NAHB housing market index, and the Philly Fed business index Thursday, and housing starts and building permits Friday. For strictly housing news, tune in tomorrow for the mortgage market index.

Yesterday: Markets were closed in observance of Columbus Day. 

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• 30 year (FRM) rates at 4.02 (-0.06).
• 15 year (FRM) rates at 3.25 (-0.02).
• FHA 30 year Fixed rates at 3.75% (0.00).
• Jumbo 30 year Fixed rates at 3.95% (-0.02).
• 5/1 ARM rates at 3.22% (-0.01).