Mortgage Rates 7-8-14

By Stevie Duffin Updated on 7/8/2014

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.

Today CoreLogic reported 47K completed foreclosures nationally in May, down from the 52K recorded in May 2013. About 660K homes in the US were in some stage of foreclosure in May, compared to 1 million in May 2013. 

Yesterday: Better than expected economic data along with a strong jobs report resulted in mortgage bonds sliding last week. Bonds are now working to stabilize. Mortgage rates increased. 

The economic calendar is light with this week save for Thursday's Weekly Initial Jobless Claims. For market moving data, wait until Wednesday for the release of June FOMC meeting minutes. On the Fed's plate? Wage growth gains are cause for inflation concerns, and a less than impressive Q1 GDP won't go unaddressed.

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• 30 year (FRM) rates at 4.23% (0.00).
• 15 year (FRM) rates at 3.36% (0.00).
• FHA 30 year Fixed rates at 3.75% (0.00).
• Jumbo 30 year Fixed rates at 4.08% (0.00).
• 5/1 ARM rates at 3.23% (-0.01).