Mortgage Rates 3-14-14

By Stevie Duffin Updated on 3/17/2014

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

With no new market moving reports out aside from weak Consumer Sentiment data, the bond markets were heavily influenced by geopolitical focus this morning, and volatile given headlines surrounding Ukraine. Perhaps surprisingly, bonds were losing traction and mortgage rates are mostly down. In times of international tension, investors often operate via a herd mentality. 

Recap: 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%.

RealtyTrac reports that February foreclosure filings dropped by 10% from January. Even more impressive is the 27% year-over-year drop in foreclosure filings. The greatest number of filings were found in Nevada, New Jersey, Florida, Illinois and Maryland.

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• 30 year (FRM) rates at 4.40% (-0.07).
• 15 year (FRM) rates at 3.42% (-0.06).
• FHA 30 year Fixed rates at 4.00%. (+/-0.00).
• Jumbo 30 year Fixed rates at 4.24% (-0.07).
• 5/1 ARM rates at 3.25% (+0.03).