Mortgage Rates 5-30-14

By Stevie Duffin Updated on 5/30/2014

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

Mortgage bonds are in positive territory midday after a volatile morning. The Chicago Purchasing Manager's Index (PMI) released this morning showed considerable gains for May at 65.5 and above the 63.0 recorded for April. The data beat out expectations of around 62.0. 

Yesterday: The recent Q1 GDP was read at -1.0% after the initial 0.1%. GDP readings have not come back negative since the -1.3% recorded in Q1 2011. Negativity was expected, but only at -0.5%. Decline is being attributed to losses in private inventory investments, exports, plant, home and office construction, as well as local and state government spending. Staying static are consumer spending and inflation. 

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• 30 year (FRM) rates at 4.09% (+0.01).
• 15 year (FRM) rates at 3.25% (0.00).
• FHA 30 year Fixed rates at 3.75% (0.00).
• Jumbo 30 year Fixed rates at 3.91% (+0.01).
• 5/1 ARM rates at 3.24% (-0.01).