Mortgage Rate Update 8 18 14

By Stevie Duffin Updated on 8/18/2014

A stronger than expected NAHB housing report is contributing to mortgage bond weakness this morning, and is the only significant economic news for today. Builder confidence rose two points in August to 55, the highest levels since January. Watch for static or rising mortgage interest rates. 

For market movers this week, keep an eye out for tomorrow's Building Permits, Housing Starts and Core CPI, and Thursday's Jobless Claims, Philly Fed Business, and Existing Home Sale numbers. 

Friday: Empire State Manufacturing came back weak at 14.69, below the 20 expected and well below the previous recording of 25.6. However, economic data was dwarfed by the consistent and disconcerting headlines concerning Russian and Ukrainian conflict, fueling mortgage bond strength. Mortgage rates dropped.

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• 30 year (FRM) rates at 4.09% (-0.05).
• 15 year (FRM) rates at 3.25% (-0.04).
• FHA 30 year Fixed rates at 3.75% (0.00).
• Jumbo 30 year Fixed rates at 3.95% (-0.03).
• 5/1 ARM rates at 3.19% (-0.02).