Quiet Week for Markets Leaves Little Inspiration for Mortgage Rates

By Stevie Duffin Updated on 12/22/2014

Existing home sales hit a six-month low according to this morning's data from the National Association of Realtors. Sales are down by 6.1 percent, the most significant dip since May. Despite this less than exciting news, mortgage backed securities (MBS) are not gaining any traction, and even dipped a little. They are riding in negative territory as of the middle of today. Watch for static or rising mortgage interest rates. 

Thursday is Christmas Day and markets will be closed in observance of the holiday. This shorter week is a little data-poor to boot, with the most significant economic reports coming in tomorrow: durable goods, new home sales, personal consumption, and a final GDP reading. Jobless claims will come in Wednesday of this week instead of the usual Thursday. 

Friday: MBS are in more positive territory thanks to Euro markets influencing domestic trading. There's little else to go off of, considering today's lack of economic data. Watch for falling mortgage interest rates. 

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• 30 year (FRM) rates at 3.86 (-0.02).
• 15 year (FRM) rates at 3.12 (-0.02).
• FHA 30 year Fixed rates at 3.35% (0.00).
• Jumbo 30 year Fixed rates at 3.73% (-0.02).
• 5/1 ARM rates at 3.25% (0.00).