Mortgage Rates 1-30-14

By Stevie Duffin Updated on 1/30/2014

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

The conclusion of yesterday's FOMC meeting came with news that the Fed will continue to taper their QE bond buying program by another $10 billion every month. 

Two market moving reports were due out today: GDP and the Department of Labor's unemployment update. GDP is on the steady rise and is reported to have grown by 3.2% in Q4 2013. Economists attribute GDP health to robust household spending, but speculate that stationary wage in 2014 could reverse the progress.

Recap: The Durable Goods report came back less than impressive for December - 4.3% under, as opposed to the expected 2.1% boost. Mortgage bonds bounced back to nearly unchanged levels since yesterday. Consumer Confidence, on the other hand, is sitting pretty - the index rating is up to 80.7, an improvement from the 77.5 reported in December. While the 80.7 pales in comparison to the triple digit ratings of pre-downturn 2007, it comes with promise that buyers are feeling more primed to buy. 

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30-year (FRM) rates at 4.40% (-0.09). 

15-year (FRM) rates at 3.43% (-0.07). 

FHA 30-Year Fixed rates at 4.00%. (-0.24).

Jumbo 30 Year Fixed rates at 4.31% (-0.07).

5/1 ARM rates at 3.25% (+0.04).