Mortgage Rate Update 10 30 14

By Stevie Duffin Updated on 10/30/2014

Mortgage bonds are in stronger territory today - a curious reality, since today's GDP reading came in at 3.5, surpassing the 3.0 predicted. This week's jobless claims did came back higher than last and higher than the expected 281,000 at 287,000, but are still hanging around their lowest levels in 14 years. Watch for dropping mortgage interest rates. 

A busy week for month-end trading and several economic reports leaves room for bond market movement. Check back tomorrow for personal consumption and Chicago manufacturing.   

Wednesday: The all important FOMC Quantitative Easing decision came in, and QE3 is done as expected. The Fed's statement was released yesterday afternoon and the news created drops in the stock market and bonds. Mortgage rates rose.

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• 30 year (FRM) rates at 4.04 (+0.05).
• 15 year (FRM) rates at 3.21 (+0.05).
• FHA 30 year Fixed rates at 3.60% (+0.10).
• Jumbo 30 year Fixed rates at 3.93% (+0.03).
• 5/1 ARM rates at 3.21% (-0.02).