Mortgage Rates 3-20-14

By Stevie Duffin Updated on 3/20/2014

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

Yesterday's FOMC announcement confirmed that tapering off $10 billion from the Quantitative Easing bond buying program will continue, and projections are pointing to QE's complete demise by this coming fall. Mortgage interest rates are up today.

Weekly Initial Jobless claims are up 5K in the latest week, and down 10K from the expected. This resulted in a drop of 3.5 K in the four-week moving average, and marks a new low since November.

Existing Home Sales in February - 4.60 mln - were the lowest since July 2012. They haven't budged much from the last month's reading of 4.62 for January, however. 

Recap: RealtyTrac reports that February foreclosure filings dropped by 10% from January. Even more impressive is the 27% year-over-year drop in foreclosure filings. The greatest number of filings were found in Nevada, New Jersey, Florida, Illinois and Maryland.

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• 30 year (FRM) rates at 4.53% (+0.10).
• 15 year (FRM) rates at 3.52% (+0.07).
• FHA 30 year Fixed rates at 4.00%. (+/-0.00).
• Jumbo 30 year Fixed rates at 4.30% (+0.05).
• 5/1 ARM rates at 3.21% (-0.04).