Mortgage Rates 7-16-14

By Stevie Duffin Updated on 7/16/2014

Mortgage bonds are sideways despite positive economic data out of the housing sector and Labor Department. 

The NAHB announced today that home builder confidence surged to its highest levels in six months, indicating sales conditions are considered good. Additionally, the NAHB predicts more prospective buyer traffic in coming months. 

Yesterday: Mortgage bonds were volatile in the morning after mixed economic news: Empire State Manufacturing is at a four-year high and employment surged in June. Fed Chairwoman Janet Yellen's congressional testimony revealed the Fed will continue to support the U.S. economy, whose recovery is still only in the works. More early morning data showed weak retail sales for June. The mixed bag left mortgage rates at the mercy of ups and downs, but they rose by end of day. 

For market movers this week, look out for a packed Thursday: Philly Fed business data, housing starts and bulding permits. 

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• 30 year (FRM) rates at 4.20% (+0.03).
• 15 year (FRM) rates at 3.34% (+0.04).
• FHA 30 year Fixed rates at 3.75% (0.00).
• Jumbo 30 year Fixed rates at 4.05% (+0.04).
• 5/1 ARM rates at 3.25% (+0.01).