Mortgage Rates Could Be on the Slide

By Stevie Duffin Updated on 1/23/2015

Existing home sales climbed by 2.4 percent in December, slightly below economist expectations and relatively anemic where first time buyer market share is concerned. Mortgage bond trading is seemingly ignoring the domestic data, however, and still riding the wake of yesterday's ECB announcement. MBS are in stronger territory today; watch for dropping mortgage interest rates.

Thursday: The big news from Europe is in - Europen Central Bank (ECB) President Mario Draghi anounced this morning that the ECB will begin its own asset buying program this March. Every month, the ECB will purchase €60 billion in assets in order to stimulate the European economy. By fall 2016 the program is supposed to halt, when the €1 trillion asset mark will have be reached. MBS fell into weaker territory as a result, and we have seen and may continue to see mortgage interest rates rise. 

Bookmark this page for daily mortgage rate updates:

• 30 year (FRM) rates at 3.69% (0.00).
• 15 year (FRM) rates at 3.05% (0.00).
• FHA 30 year Fixed rates at 3.25% (0.00).
• Jumbo 30 year Fixed rates at 3.65% (0.00).
• 5/1 ARM rates at 3.25% (0.00).