Mortgage loan rates moved sideways to very slightly downward today. After last Friday any sort of holding pattern is preferable to upward movement, but there is plenty of potential this week for more upward pressure on mortgage loan rates including Wednesday afternoon’s auction of 10-year Treasuries and the release of jobless data and a Retail Sales report on Thursday.

Any one or all of those could be a factor in pushing rates up or down depending on the outcome of the reports and auction. Borrowers are getting advice from some companies that it might be safe to “float” over the very short term but that getting an interest rate lock after the Treasury auction tomorrow might be a safe course of action.

It’s not a good time to be undecided about a mortgage loan rate on a VA mortgage--Thursday’s economic data releases could well shore up last week’s mortgage rate spoiler (the Employment Situation Report) and if that happens rates could very well begin moving upward once more. It’s true that we’ve seen rates ignore some economic data or events that would normally send the numbers higher--could that happen on Thursday? Time will tell.

On Tuesday, same as Monday, VA mortgage rates did not move from their current best execution comfort zone. We could see some movement on Thursday if rates are indeed affected by the economic reports--potential borrowers and VA loan refinancers should be prepared for this possibility. Some who watch the markets professionally believe that rates are in an upwardly trending position for now in spite of the sideways movement from the last two days.

Here are the mortgage loan rates for Tuesday March 11 2014. The numbers you see here are reported as best execution rates. They are not available to all borrowers or from all lenders. Your experience may vary depending on FICO scores and other qualifying data plus the availability of a participating lender.


●    30-year fixed rate conventional mortgages: 4.5%
●    FHA mortgage loan rates: 4.00%
●    VA mortgage loan rates: 4.00%
●    15-year fixed rate mortgages: 3.375%
●    5-year adjustable rate mortgages: Between 3.0% and 3.50% depending on the lender