Mortgage Rate Update 8 21 14

By Stevie Duffin Updated on 8/21/2014

Stronger than expected economic data is bolstering mortgage bond weakness today. Existing Home Sales hit a high in July, topping June by 2.4 percent. Good news, despite being under year-over-year by 4.3 percent. The Philadelphia Fed business outlook was similarly optimistic; the index rose to 28 from 23.9 in July, blowing expectations for losses out of the water. Watch for rising mortgage interest rates. 

Yesterday: Little activity in the bond markets yesterday ahead of the release of additional insight into the recent FOMC meeting. 

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• 30 year (FRM) rates at 4.18% (+0.02).
• 15 year (FRM) rates at 3.31% (0.00).
• FHA 30 year Fixed rates at 3.75% (0.00).
• Jumbo 30 year Fixed rates at 4.08% (+0.03).
• 5/1 ARM rates at 3.26% (+0.01).