Mortgage Rates 5-1-14

By Stevie Duffin Updated on 5/1/2014

What will mortgage interest rates do tomorrow? Rates should stay the same, according to mortgage professionals voting on Lender411's daily poll.

Mortgage bonds didn't move much this morning thanks to another economic bag of tricks:

Weekly Initial Jobless Claims jumped to 344K, up 14K and above the 315K expected. This marks a high since February. However, Personal Spending leapt 0.9% in March, above the expected 0.6%. Impressively, this is the highest level since August 2009. Incomes inched up to 0.5%, topping the 0.4% estimated. 

Tomorrow's April Jobs Report is the one to watch.

Yesterday: Bonds remained strong despite disappointing news from 2014's first GDP reading, a measly 0.1% and a whopping 0.9% below the expected. Adding to the tumult was happy news from ADP, who reported 220K jobs were added in April, a high for this year. 

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• 30 year (FRM) rates at 4.37% (-0.05).
• 15 year (FRM) rates at 3.42% (-0.06).
• FHA 30 year Fixed rates at 4.00% (0.00).
• Jumbo 30 year Fixed rates at 4.12% (-0.05).
• 5/1 ARM rates at 3.21% (-0.02).