Mortgage Rate Update 8 1 14

By Stevie Duffin Updated on 8/1/2014

Mortgage bonds are in strong territory - look out for falling rates. The jobs report brought about pleasant news: about 209 thousand jobs were added in July. Jobless rates rose slightly, however, jumping to 6.2 percent from the 6.1 recorded for June. 

Yesterday: Mortgage bonds sank after the strong Q2 GDP reading was released Wednesday (pushing rates up), but bounced back midday. The Fed statement did little to combat the effect of the GDP reading. Weaker than expected Chicago PMI data and some common month's-end market activity helped bring bonds back to unchanged levels. 

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• 30 year (FRM) rates at 4.25% (+0.01).
• 15 year (FRM) rates at 3.37% (+0.01).
• FHA 30 year Fixed rates at 3.75% (0.00).
• Jumbo 30 year Fixed rates at 4.09% (+0.01).
• 5/1 ARM rates at 3.25% (+0.00).