Mortgage Rates Start the Week on a Lower Note

By Stevie Duffin Updated on 1/12/2015

MBS are in stronger territory moving into today. Watch for dropping mortgage interest rates. The latter half of this week will be most significant for economic reports. For more potential mortgage rate movers, check back Wednesday for import prices, export prices and retail sales, Thursday for NY Fed manufacturing, Philly Fed business, and jobless claims, and Friday for CPI, a measure of inflation. 

Friday: December saw solid job growth in 2014 according to the latest payroll data. Non-farm payrolls showed a 252,000 increase, and unemployment sank to its lowest in over six years, sitting at 5.6 percent. News on average hourly wages was not as strong; a five cent per hour drop was reported today. 

Bonds had a much more significant reaction to the hostage standoff in France and ECB hints about a less imminent quantitative easing (QE), gaining ground into the morning before tapering off and moving sideways. Watch for static or dropping mortgage interest rates. 

Book this page for daily mortgage rate updates:

• 30 year (FRM) rates at 3.71 (-0.03).
• 15 year (FRM) rates at 3.04 (-0.02).
• FHA 30 year Fixed rates at 3.25% (0.00).
• Jumbo 30 year Fixed rates at 3.64% (-0.03).
• 5/1 ARM rates at 3.24% (0.00).