Mortgage Rates 2-14-14

By Stevie Duffin Updated on 2/14/2014

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

Foreclosure reports out today from RealtyTrac show an 8% increase from December to January. However, January 2014 saw an 18% decrease in foreclosures from January 2013. This marks the 40th consecutive year-over-year decrease in foreclosure, albeit the smallest since September 2012. 

Yesterday the Labor Department released the Weekly Initial Jobless Claim report, and claims rose by 8K in the latest week to 339K (335K expected). The  four week average jumped to 336,750 from 333,250 the week before.

The Mortgage Banker's Association reported the latest from its Market Composite Index: total loan application is down 2%, refinance index down 0.2% and the purchase index is down 5%.

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• 30 year (FRM) rates at 4.38% (-0.04).
• 15 year (FRM) rates at 3.40% (-0.03).
• FHA 30 year Fixed rates at 4.00%. (+/-0.00).
• Jumbo 30 year Fixed rates at 4.30% (-0.03).
• 5/1 ARM rates at 3.22% (-0.02).