Mortgage Rates 5-16-14

By Stevie Duffin Updated on 5/16/2014

What will mortgage interest rates do Monday? Rates should go up, according to mortgage professionals voting on Lender411's daily poll.

Housing Starts data out today shows a 13.2% rise in April; Building Permits are up 8%. These numbers are not enough to move mortgage bonds, however, which are mostly sideways. 

Yesterday: Filings for unemployment benefits dropped to levels we saw in May 2007, a sign the labor market is getting stronger. Weekly Initial Jobless Claims fell to 297K, a full 24K below the expected 325K. The other market mover for today is Empire State Manufacturing, coming in at 19.0 in May, far above the 4.8 expected.

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• 30 year (FRM) rates at 4.15% (-0.02).
• 15 year (FRM) rates at 3.28% (-0.01).
• FHA 30 year Fixed rates at 3.75% (0.00).
• Jumbo 30 year Fixed rates at 3.93% (-0.02).
• 5/1 ARM rates at 3.20% (-0.01).