Mortgage Rates 1-21-14

By Stevie Duffin Updated on 1/21/2014

What will mortgage interest rates do tomorrow? Rates should stay the same, according to mortgage professionals voting on our daily poll.

The beginning of this month showed an 11.9% increase in mortgage applications, a relative comeback after a 12-year low during the New Year holiday week. Refinance applications fell 1% to 62% of all mortgage applications in the same week - the lowest since September. 

Data last week showed continued moderate growth in the retail sector, which accounts for about 70% of economic activity. Investors will keep their eye on this progress to monitor economic vitality.

The Fed will keep a close eye on upcoming data to support further changes in monetary policy. Two weeks of holidays brought momentary stability in the market place, but expect fluctuation and a steady climb in interest rates as we near the January 29 FOMC meeting. Bookmark this page for daily mortgage news and your rate update.  

30-year (FRM) rates at 4.39% (-0.03). 

15-year (FRM) rates at 3.45% (-0.02). 

FHA 30-Year Fixed rates held at 4.25%. 

Jumbo 30 Year Fixed rates at 4.66%.

5/1 Year (ARM) rates at 3.54% (-0.15).