Mortgage Rates 7-14-14

By Stevie Duffin Updated on 7/14/2014

Citigroup earnings came back stronger than expected and are pushing mortgage bonds down. Watch for mortgage rate increases. 

For market movers this week, look out for Fed Chair Yellen's congressional testimony tomorrow, as well as Empire State manufacturing and retail sales. Wednesday will see NAHB's housing market index, and Thursday is packed with Philly Fed business data, housing starts and bulding permits. 

Last week: The Federal Reserve's meeting minutes reinforced plans to continue tapering off the multibillion dollar bond buying program (Quantitative Easing) that has been keeping mortgage rates low. Given economic recovery persists, the Fed plans to cut $15B in bond buying at its October meeting, as opposed the $10B it has decided to cut at previous meetings. The Fed will continue to reinvest funds into Mortgage-Backed Securities, however, and low rates will still be supported.

Bookmark this page for daily mortgage interest rates and market updates.

• 30 year (FRM) rates at 4.14% (-0.01).
• 15 year (FRM) rates at 3.27% (-0.01).
• FHA 30 year Fixed rates at 3.75% (0.00).
• Jumbo 30 year Fixed rates at 3.98% (-0.01).
• 5/1 ARM rates at 3.23% (+0.01).