Mortgage Rates 5-2-14

By Stevie Duffin Updated on 5/2/2014

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

Employment came back with positive numbers this morning - 288K jobs were added in April, well below the projected 218K. Revised data from February and March revealed gains as well. Unemployment is sitting pretty at 6.3%, prettier than the 6.7% reading in March and below the 6.6% expected. 

Yesterday: 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. 

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• 30 year (FRM) rates at 4.29% (-0.08).
• 15 year (FRM) rates at 3.38% (-0.04).
• FHA 30 year Fixed rates at 3.95% (-0.05).
• Jumbo 30 year Fixed rates at 4.03% (-0.09).
• 5/1 ARM rates at 3.25% (+0.04).