Mortgage Rate Update 11 19 14

By Stevie Duffin Updated on 11/19/2014

Mortgage bonds are maintaining weak levels after German economic data came back far healthier than expected, throwing the stock market into a buying trend. Watch for rising mortgage interest rates. In housing news, building permits shot up in October, especially for multi-family units which jumped by 10 percent. Housing starts themselves were low, but  a greater number of building permits is a good sign for future construction. 

A week healthy with economic data may lend itself to moving rates. Check back tomorrow for CPI (a measure of inflation), jobless claims, Philly Fed business, and existing home sales. 

Tuesday: The National Association of Home Builders (NAHB) housing market index came back stronger than expected, jumping from October's 54.0 to 58.0, a few ticks above the prediction of 55.0. Since the reading is still above 50.0, the outlook for home sales is optimistic. 

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• 30 year (FRM) rates at 3.98 (-0.01).
• 15 year (FRM) rates at 3.18 (-0.01).
• FHA 30 year Fixed rates at 3.50% (0.00).
• Jumbo 30 year Fixed rates at 3.83% (-0.01).
• 5/1 ARM rates at 3.24% (+0.01).