Mortgage Rate Update 9 30 14

By Stevie Duffin Updated on 9/30/2014

Nothing major has happened for mortgage bonds today, which opened on the weak side and jumped closer to unchanged levels later in the morning. Where mortgage rates will go at this point is unclear. Economic data released today included a slowed home price growth from Case Shiller, plummeting consumer confidence numbers for September, and a lower than expected but stil positive purchasing manager's index out of Chicago. True to recent trend, bonds were not moved much by the announcements. 

For other potential market movers this heavier week, tune in tomorrow for ADP employment data and construction, Thursday for jobless claims, and Friday for employment data galore. 

Yesterday: Mortgage bonds were higher thanks to overseas data and month-end trading dynamics. This is despite stronger than expected personal spending and personal income data out of our own economy, with 0.5 and 0.3 percent jumps, respectively. 

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• 30 year (FRM) rates at 4.18 (-0.03).
• 15 year (FRM) rates at 3.33% (-0.03).
• FHA 30 year Fixed rates at 3.75% (0.00).
• Jumbo 30 year Fixed rates at 4.04% (-0.02).
• 5/1 ARM rates at 3.23% (-0.02).