Mortgage Rates 1-20-14

By Stevie Duffin Updated on 1/20/2014

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

Mortgage rates are the lowest they've been in 6 weeks.  The beginning of this month showed an 11.9% increase in mortgage applications, a relative comeback after a 12-year low during the New Year holiday week. Refinance applications fell 1% to 62% of all mortgage applications in the same week - the lowest since September. 

Data last week showed continued moderate growth in the retail sector, which accounts for about 70% of economic activity. Investors will keep their eye on this progress to monitor economic vitality.

The Fed will keep a close eye on upcoming data to support further changes in monetary policy. Two weeks of holidays brought momentary stability in the market place, but expect fluctuation and a steady climb in interest rates as we near the January 29 FOMC meeting. Bookmark this page for daily mortgage news and your rate update.  

30-year (FRM) rates dropped by 0.03 to 4.47%. The 52-week high is 4.85%.

15-year (FRM) rates dropped by 0.01 to 3.49%. The 52-week high is 3.90%.

FHA 30-Year Fixed rates held at 4.25%. The 52-week high is 4.60%.

Jumbo 30 Year Fixed rates dropped by 0.03 to 4.35%. The 52-week high is 4.79%.

5/1 Year (ARM) rates dropped by 0.01 to 3.24%. The 52-week high is 3.37%.