Mortgage Rate Update 10 6 14

Updated on 10/6/2014

Mortgage bonds are in stronger territory today in absence of economic data (which may not have prompted market movement either way). Watch for dropping mortgage interest rates. For other potential market moving data, tune in Wednesday when the Fed releases FOMC meeting minutes, Thursday for jobless claims and Friday for import and export prices. 

Friday: Strong employment data was released: 248,000 jobs were added in September, outperforming the 215,000 expected, and the unemployment rate fell to a six-year low of 5.9 percent. Mortgage bonds would normally plummet at the news and mortgage interest rates would jump, but bonds barely got weaker and mostly did not move. 

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• 30 year (FRM) rates at 4.15 (+0.02).
• 15 year (FRM) rates at 3.32 (+0.02).
• FHA 30 year Fixed rates at 3.75% (0.00).
• Jumbo 30 year Fixed rates at 4.02% (+0.02).
• 5/1 ARM rates at 3.25% (+0.01).