Lower Mortgage Rates Likely Headed Our Way

By Stevie Duffin Updated on 12/8/2014

MBS are in more positive territory this morning, no thanks to falling oil prices, but certainly thanks to European trading cues. Watch for falling mortgage interest rates. This week's economic calendar is lighter overall, with the main focus being Thursday's plethora of data including jobless claims, import and export prices, and retail sales. For housing news, check in Wednesday for the mortgage refinance index.  

Friday: Strong non-farm payrolls data (NFP) threw MBS into weak levels this morning. The predicted 230,000 was majorly trumped by the actual 321,000, showing rapid hiring in November. Jobless rate remains 5.8 percent, inline with expectations. Watch for rising mortgage interest rates. 

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• 30 year (FRM) rates at 3.94 (+0.02).
• 15 year (FRM) rates at 3.18 (+0.03).
• FHA 30 year Fixed rates at 3.50% (+0.10).
• Jumbo 30 year Fixed rates at 3.79% (+0.02).
• 5/1 ARM rates at 3.25% (0.00).