Mortgage Rates Volatile After ECB Press Conference

By Stevie Duffin Updated on 12/4/2014

Jobless claims for the latest week dropped by 17,000 to 297,000, but above what economists expected. Largely unaffected by the data were MBS, which were up and down thanks to the European Central Bank's press conference. After the excitement over the ECB announcements, it's tough to say where mortgage rates are headed. For more potential market movers, check back tomorrow for a slew of data including non-farm payrolls and unemployment. 

Wednesday: Some weak data out of ADP was helping to lift mortgage bonds, but not quite enough to go positive. Private payrolls increased in November to 208,000, but below expectations, some around 223,000. ISM data brought good news for the service sector but a dip in employement, reinforcing some bond bounce-back. 

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• 30 year (FRM) rates at 3.93 (+0.02).
• 15 year (FRM) rates at 3.15 (+0.03).
• FHA 30 year Fixed rates at 3.40% (+0.05).
• Jumbo 30 year Fixed rates at 3.78% (+0.03).
• 5/1 ARM rates at 3.25% (+0.03).