Mortgage Rates 5-9-14

By Stevie Duffin Updated on 5/9/2014

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 weaker territory today, and with little market moving data to influence trading, investors are keep their eyes on one another. Mortgage rates are up. 

Yesterday: Mortgage rates were down thanks to some major gains in mortgage bonds after European Central Bank announcements pointed to hesitation, and then most notably from Fed Chairwoman Janet Yellen who said that for Quantitative Easing to cease this coming fall, the U.S. labor markets will need to improve significantly. She also mentioned that rates in general are unlikely to rise until the U.S. is showing more sure signs of strong economic recovery. No new news there, but some good news for home buyers looking to lock. 

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• 30 year (FRM) rates at 4.21% (+0.03).
• 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 3.99% (+0.02).
• 5/1 ARM rates at 3.23% (+0.03).