Mortgage Rates 1-23-14

By Stevie Duffin Updated on 1/23/2014

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

The National Association of Realtors reported that last month showed disappointing home sales - a 4.2% slump since October. December 2013's numbers were also lower than those of December 2012.

However, 2013 on the whole not only showed an overall improvement in home sales over 2012 (by 9.1%), it was the most robust year since the halcyon days of 2006. NAR economists are confident that the housing market is still fleshing out for a healthy recovery. 

New borrower data showed that buyers in December 2013 had credit scores on average 21% lower than their December 2012 counterparts; the exact figures are 727 and 748, respectively. 

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 4.50% (+0.02). 

15-year (FRM) rates at 3.52% (+0.02). 

FHA 30-Year Fixed rates held at 4.25%. 

Jumbo 30 Year Fixed rates at 4.38% (+0.02).

5/1 Year (ARM) rates at 3.23% (-0.02).