Mortgage Rate Update 11 6 14

By Stevie Duffin Updated on 11/6/2014

This morning's much anticipated European Central Bank announcement and ensuing press conference with President Mario Draghi gave way to some volatility for mortgage bonds, but MBS were up and down enough to just about break even, and now bonds are at unchanged levels. Watch for static or rising mortgage interest rates. Jobless claims for the first week of November are in today as well, and down to 278,000, below expectations of 285,000. 

Another busy week bursting with potential market movers is upon us: check back tomorrow for the big October employment report. 

Wednesday: ADP employment data came back relatively inline with expectations: 230,000 private jobs were added, above the projected 220,000. The data did not move bonds much, but perhaps bolstered the morning's weakness ahead of the European Central Bank announcement Thursday. Mortgage rates rose. 

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• 30 year (FRM) rates at 4.06 (+0.02).
• 15 year (FRM) rates at 3.25 (+0.03).
• FHA 30 year Fixed rates at 3.60% (0.00).
• Jumbo 30 year Fixed rates at 3.96% (+0.02).
• 5/1 ARM rates at 3.25% (0.00).