Mortgage Rates 6-17-14

By Stevie Duffin Updated on 6/18/2014

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

Mortgage bonds are at weaker levels today after inflation data came back high. May's Consumer Price Index (CPI) grew by 0.4% versus the 0.3% expected, thanks to higher costs for gas, electricity and food, marking the highest monthly reading since September 2012. CPI levels, a sign of inflation gains, are walking the line of the Federal Reserve's comfort zone. Investors will be all the more interested to see how CPI influences the FOMC monetary policy statement, out tomorrow at 2:00 PM ET. 

Yesterday: Another reading for Q1 GDP came back much lower than the initial (2.0% as opposed to 2.8%) and contributed to mortgage bonds gaining ground into the day. This is despite solid Empire State Manufacturing data for June: 19.28, well above the expected 12.8. 

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• 30 year (FRM) rates at 4.20% (-0.03).
• 15 year (FRM) rates at 3.34% (-0.02).
• FHA 30 year Fixed rates at 3.75% (-0.05).
• Jumbo 30 year Fixed rates at 4.03% (-0.03).
• 5/1 ARM rates at 3.24% (-0.01).