Mortgage Rates 3-6-14

By Stevie Duffin Updated on 3/6/2014

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

Weekly Initial Jobless Claims fell to 323K, a difference of 26K and below the 338K expected. This data is the lowest since November. As a result, the four week moving average dropped by 2K to 336K.

CoreLogic reports that 4 million homes regain positive equity in 2013; 6.5 million are underwater (half the number toward the end of 2009). A total of about 42.7 million homeowners have some equity. 

ISM reported yesterday morning that service sector growth dipped to a four year low last month, from 55.4% to 47.5%. Disappointing news especially when coupled with ADP's report that service added only 120K new jobs last month, which represents a drop in year-over-year gains. Bad weather is still largely to blame for the bad numbers, according to ISM.

Look out for tomorrow's February Jobs report which will include the unemployement rate. 

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• 30 year (FRM) rates at 4.42% (+/-0.00).
• 15 year (FRM) rates at 3.43% (+/-0.00).
• FHA 30 year Fixed rates at 4.00%. (+/-0.00).
• Jumbo 30 year Fixed rates at 4.27% (-0.01).
• 5/1 ARM rates at 3.24% (+0.01).