Mortgage Rates 2-26-14

By Stevie Duffin Updated on 2/26/2014

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

Today the Treasury will be auctioning $35 billion five-year notes. Treasury note auctions will continue tomorrow with $29 billion seven-year notes. For the rest of the week, watch out for Yellen's meeting with the Senate Banking Committee Thursday, and Consumer Sentiment and GDP, both out Friday.

The Mortgage Bankers Association reported that total loan application volume for over 75% of retail residential mortgage applications (via its Market Composite Index), dropped 8.5% in the recent week, the refi index by 11.4%, and the purchase index by 3.5%.

Recap: The Case Shiller 20 city Index rose by 13.4% from the same time last year, just below the expected 13.6%. From November to December, prices climbed 0.8%. According to the Dow Jones Index Committee, we could be seeing the last leg of the housing recovery.

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• 30 year (FRM) rates at 4.41% (-0.08).
• 15 year (FRM) rates at 3.45% (-0.05).
• FHA 30 year Fixed rates at 4.00%. (-0.25).
• Jumbo 30 year Fixed rates at 4.30% (-0.05).
• 5/1 ARM rates at 3.22% (-0.03).