Mortgage Rates 1-9-14

By Stevie Duffin Updated on 1/9/2014

What will mortgage interest rates do tomorrow? The mortgage market should resist change or lead to an increase in interest rates tomorrow, according to mortgage professionals voting on our daily poll. However, this week will provide a few market moving economic reports. Today Fed Chairwoman-designate Janet Yellen said she predicts greater housing market recovery for 2014 as well as GDP growth, up to 3%. She added that slow moving inflation will likely reach the 2% mark, which is the Federal Reserve's target. This activity, if realized, would ultimately lead to higher mortgage interest rates.

The most influential report comes Friday in the the form of a Non-Farm Payroll report. 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 rose by 0.03 to 4.62%. The 52-week high is 4.85%.

15-year (FRM) rates rose by by 0.03 to 3.64%. The 52-week high is 3.90%.

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

Jumbo 30 Year Fixed rates rose by 0.03 to 4.55%. The 52-week high is 4.79%.

5/1 Year (ARM) rates held at 3.25%. The 52-week high is 3.37%.