Mortgage Rates 5-28-14

By Stevie Duffin Updated on 5/28/2014

What will mortgage interest rates do tomorrow? Rates should stay the same, according to mortgage professionals voting on Lender411's daily poll.

Mortgage bonds started the morning at higher levels thanks partly to the Fed raking up MBS supply as well as the ECB intimating its plans to cut interest rates. The euro is now down and the dollar and bonds are up. 

The Mortgage Bankers Association reports its Market Composite Index (total loan applications) for the latest week dropped by 1.2%. Refinances continue to fall, this time by 1%

Look out for the final Q1 GDP reading out Thursday.  

Yesterday: The holiday weekend and mixed economic data are contributing to unchanged mortgage bonds levels. Durable Goods rose in April, thanks to spikes in military hardware orders. Consumer Confidence is up as well, rising to 83 from the 81.7 recorded for April.

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• 30 year (FRM) rates at 4.08% (-0.08).
• 15 year (FRM) rates at 3.29% (+0.01).
• FHA 30 year Fixed rates at 3.75% (0.00).
• Jumbo 30 year Fixed rates at 3.96% (0.00).
• 5/1 ARM rates at 3.25% (+0.01).