Mortgage Rates May Be Edging Up by End of Day

By Stevie Duffin Updated on 1/29/2015

December pending home sales data was released today, showing a drop of 3.4 percent, the largest decline since December of 2013. In more promising news, weekly jobless claims declined to the lowest point in about 15 years. The data is relatively skewed since it measured unemployment filings for the week of the Martin Luther King Jr. holiday, but nonetheless points to a healing labor market. 

Mortgage backed security trading paid little attention to the data, however, and continue to move sideways to weak. Watch for static or rising mortgage interest rates. 

For more potential mortgage interest rate movers, check back tomorrow for Chicago PMI. 

Bookmark this page for daily mortgage rate updates:

• 30 year (FRM) rates at 3.60% (-0.02).
• 15 year (FRM) rates at 2.98% (-0.02).
• FHA 30 year Fixed rates at 3.25% (0.00).
• Jumbo 30 year Fixed rates at 3.60% (-0.01).
• 5/1 ARM rates at 3.23% (0.00).