Mortgage Rates 2-4-14

By Stevie Duffin Updated on 2/4/2014

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

Mortgage bonds are down this morning, and mortgage interest rates are down across the board. Notably, FHA 30 year fixed rates are down by a quarter of a percent to 3.75%.

The jobs report for January will be released this Friday at 8:30 AM ET. It is predicted to have tremendous influence on trading, as usual. 

CoreLogic reported that home prices rose by 11% in December 2013 compared the the same time last year. However, this is a dip from the 11.8% gain seen when comparing November 2013 to November 2012. This 22 consecutive month year-over-year gain has slowed in the past few months overall. 

Recap: The conclusion of last Wednesday's FOMC meeting came with news that the Fed will continue to taper their QE bond buying program by another $10 billion every month. According to the Economic Policy Institute, the national number of people out of work for at minimum 27 weeks dropped to 3.8 million in December 2013, a vast improvement from the 4.7 million recorded in December 2012.

Bookmark this page for daily mortgage interest rates and market updates. 

30 year (FRM) rates at 4.28% (-0.06). 

15 year (FRM) rates at 3.32% (-0.05). 

FHA 30 year Fixed rates at 3.75%. (-0.25).

Jumbo 30 year Fixed rates at 4.19% (-0.06).

5/1 ARM rates at 3.17% (-0.04).