Mortgage Rate Update 10 3 14

By Stevie Duffin Updated on 10/3/2014

Strong employment data out today: 248,000 jobs were added in September, outperforming the 215,000 expected, and the unemployment rate fell to a six-year low of 5.9 percent. Mortgage bonds would normally plummet at the news and mortgage interest rates would jump, but as of now, bonds barely got weaker and mostly did not move. Watch for static or rising interest rates. 

Yesterday: Mortgage bonds started strong, likely because of rumors surrounding China's military activity. Eventually they sank to weaker levels. In economic news, jobless claims dropped in the latest weak, optimistically pointing to labor market strength. 

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• 30 year (FRM) rates at 4.13 (0.00).
• 15 year (FRM) rates at 3.30 (0.00).
• FHA 30 year Fixed rates at 3.75% (0.00).
• Jumbo 30 year Fixed rates at 4.00% (0.00).
• 5/1 ARM rates at 3.24% (+0.01).