Mortgage Rates 7-2-14

By Stevie Duffin Updated on 7/2/2014

What will mortgage interest rates do tomorrow? Rates should go up, according to mortgage professionals voting on Lender411's mortgage interest rate prediction daily poll.

Mortgage Bonds started the day in more positive territory before yielding to ADP's report that private employers added 281K workers in June, a whopping 81K above the 200K expected. This is a jump from the 179K recorded for May. The 281K represents the largest gain since November 2012.

For market movers and mortgage rate predictions this week, look out for tomorrow's cornucopia of data including the June Jobs Report, released early for Independence Day.

Yesterday: Home prices, including distressed sales, rose 8.8% year-over-year in May, according to CoreLogic. This is down about 1% from April. From April to May prices rose by 1.4%. CoreLogic predicts a 6% rise from May 2014 to May 2015.

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• 30 year (FRM) rates at 4.14% (+0.04).
• 15 year (FRM) rates at 3.29% (+0.04).
• FHA 30 year Fixed rates at 3.75% (0.00).
• Jumbo 30 year Fixed rates at 3.99% (+0.04).
• 5/1 ARM rates at 3.25% (0.00).