Mortgage Rates May Move From FOMC Minutes

By Stevie Duffin Updated on 1/8/2015

A suite of domestic economic data was released today, including slightly lower internation trade and strong ADP numbers for the end of 2014 including 241,000 new jobs. Mortgage bond trading was less concerned with domestic news, however, and took its greatest cues from Europe, as usual. Into the middle of today, MBS are in slightly weaker territory. The next piece of news to watch is the FOMC meeting minutes, which may have a moving effect on mortgage rates. In the meantime, watch for static or rising mortgage interest rates. 

For potential mortgage market movers, check back tomorrow for jobless claims, and Friday for non-farm payrolls and unemployment. 

Tuesday: ISM non-manufacturing data for December is in, and lower than the expected 58.5 at 56.2. The 56.2 is the lowest reading since June, but it was mostly ignored by MBS trading. MBS are in strong territory today, espcially following some volatility brought on by European market actiivity. Watch for falling mortgage interest rates.

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• 30 year (FRM) rates at 3.68 (-0.08).
• 15 year (FRM) rates at 3.02 (-0.04).
• FHA 30 year Fixed rates at 3.25% (0.00).
• Jumbo 30 year Fixed rates at 3.63% (-0.05).
• 5/1 ARM rates at 3.22% (-0.03).