Mortgage Rate Update 8 27 14

By Stevie Duffin Updated on 8/27/2014

No reports are due today, so bonds are taking cues from foreign markets and domestic trading. Mortgage bonds were in positive territory midday. Watch for falling rates. In housing news, the Mortgage Bankers Association reports that total loan application volume was up 2.8 percent in the latest week. 

For market movers this week, keep an eye out for tomorrow's GDP reading and Jobless Claims, and Friday's Personal Consumption and Chicago PMI.

Yesterday: Strong Durable Goods data didn't move mortgage bonds out of Monday's positive trend, but stronger than expected (and more viable) Consumer Confidence numbers pushed the bond down to unchanged levels. CC came in at a 7-year high, bumped to 92.4 from the 90.3 recorded in July. The Case Shiller report came in and home prices are up in the year ending in June, but down from the index recorded in the year ending in May. The 8.1 percent recorded for June was flush with expectations.

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• 30 year (FRM) rates at 4.13% (-0.01).
• 15 year (FRM) rates at 3.27% (0.00).
• FHA 30 year Fixed rates at 3.75% (0.00).
• Jumbo 30 year Fixed rates at 4.00% (-0.01).
• 5/1 ARM rates at 3.22% (+0.01).