Mortgage Rates 2-3-14

By Stevie Duffin Updated on 2/3/2014

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

Mortgage bonds are near unchaged with the new month of February, and as of today mortgage interest rates are down across the board. 

Janet Yellen will officially take her place as the first Chairwoman of the Federal Reserve today, inheriting a $4 trillion balance sheet as the Fed tries to transition out of QE3.

The jobs report for January will be released this Friday at 8:30 AM ET. It is predicted to have tremendous influence on trading, as usual. 

Recap: The conclusion of last Wednesday's FOMC meeting came with news that the Fed will continue to taper their QE bond buying program by another $10 billion every month. According to the Economic Policy Institute, the national number of people out of work for at minimum 27 weeks dropped to 3.8 million in December 2013, a vast improvement from the 4.7 million recorded in December 2012.

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30-year (FRM) rates at 4.34% (-0.07). 

15-year (FRM) rates at 3.37% (-0.07). 

FHA 30-Year Fixed rates at 4.00%. (+/-0.00).

Jumbo 30 Year Fixed rates at 4.25% (-0.06).

5/1 ARM rates at 3.21% (-0.04).