Mortgage Rates 6-25-14

By Stevie Duffin Updated on 6/25/2014

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.

The final Q1 GDP reading showed a weak -2.9 percent this morning, significantly lower than the -1.8 percent expected. This marks the worst reading since Q1 of 2009, often considered the peak of the recession.

The Mortgage Bankers Association's Market Composite Index fell 1% last week, for both purchase and refinance loan appications. Combined with higher existing home sales (data released earlier this week), industry authorities are concerned that housing cannot recover without employment stability. 

Yesterday: Mortgage bonds greeted the morning in more positive territory after the release of a weaker than expected Case-Shiller report. The 20 city Index rose by 10.8 percent year-over-year in April, below the 11.6 percent expected and down from the 12.4 percent recorded for March. From March to April, the index rose by just 0.2 percent. 

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• 30 year (FRM) rates at 4.17% (-0.01).
• 15 year (FRM) rates at 3.32% (-0.01).
• FHA 30 year Fixed rates at 3.75% (0.00).
• Jumbo 30 year Fixed rates at 4.00% (-0.01).
• 5/1 ARM rates at 3.22% (-0.01).