Mortgage Rate Update 8 8 14

By Stevie Duffin Updated on 8/8/2014

Bond markets gained strong ground with the announcement of the U.S. air strike in Iraq last night, but notably lacking were MBSs. As of the middle of today's trading, mortgage bonds were in slightly positive territory. Watch the headlines to see if any upticks or easing in geopolitical risk moves the bond up or down, respectively. Look out for static or dropping rates. 

Yesterday: A large drop in unemployment claims did little to move mortgage bonds into weak territory yesterday morning, largely thanks to Fed buying. Fannie and Freddie reported higher earnings, which did little to move bonds as well, along with lower Initial Jobless Claims (289 thousand, below the 309 thousand expected). Mortgage rates dropped.     

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• 30 year (FRM) rates at 4.18% (-0.04).
• 15 year (FRM) rates at 3.29% (-0.04).
• FHA 30 year Fixed rates at 3.75% (0.00).
• Jumbo 30 year Fixed rates at 4.02% (-0.03).
• 5/1 ARM rates at 3.25% (+0.01).