Mortgage Rates 3-12-14

By Stevie Duffin Updated on 1/2/2015

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

Today at 1PM ET the results from the $21 billion 10-year treasury note auction will be released. Stock market action could influence bond trading during the session.

The Mortgage Bankers Association's Market Composite Index indicated that total loan applications fell by 2.1% in the latest week. The previous week saw a 9.4% jump. The refinance index dropped by 3% and the purchase index crawled up to 1%.

The Treasury will continue auctioning a total of $64 billion in 3 and 10-year notes as well as 30-year bonds through tomorrow.

Recap: 175K jobs were created in February, notably above the 163K expected. Revisions to the December and January reports were also positive, showing about 25K additional jobs. Unemployment crept up from 6.6. to 6.7%, but so did hourly earnings, by 0.4%. Earnings have steadily increased by 2.2% over the last year. 

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• 30 year (FRM) rates at 4.50% (-0.01).
• 15 year (FRM) rates at 3.51% (-0.01).
• FHA 30 year Fixed rates at 4.00%. (+/-0.00).
• Jumbo 30 year Fixed rates at 4.35% (-0.01).
• 5/1 ARM rates at 3.25% (+/-0.00).