Mortgage Rate Update 10 28 14

By Stevie Duffin Updated on 10/28/2014

Mortgage bonds are weaker now, increasing the possibility for rising rates. Durable goods came back so bad that bonds did experience a jump, however consumer confidence data came back its highest in seven years, pushing bonds back down. Watch for rising mortgage interest rates. In housing news, the Case Shiller index showed that home price gains are still paced at a crawl. 

A busy week for month-end trading and several economic reports leaves room for bond market movement. Check back tomorrow for the all important FOMC rate decision (the Fed is expected to talk about the end of bond buying, which would ultimately lead to higher mortgage rates), Thursday for GDP and jobless claims, and Friday for personal consumption and Chicago manufacturing.   

Monday: Pending home sales data came back positive - although below the expected mark - but mortgage bonds became stronger thanks to weakness in European markets. 

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• 30 year (FRM) rates at 3.99 (0.00).
• 15 year (FRM) rates at 3.16 (0.00).
• FHA 30 year Fixed rates at 3.50% (0.00).
• Jumbo 30 year Fixed rates at 3.90% (-0.01).
• 5/1 ARM rates at 3.23% (-0.02).