Mortgage Rate Update 9 2 14

By Stevie Duffin Updated on 9/2/2014

Mortgage bonds are weaker today, though they weren't pressured much lower by strong ISM data. United States manufacturing was recorded at a three-year high last month, jumping above expectations of 56.9 to 59. Look out for static or rising mortgage interest rates. 

This short, post-holiday week will be rife with employment figures: watch out for Thursday's ADP National Employment and Friday's big boy, the August job report, including Unemployment and Payrolls data. 

Friday: Mortgage interest rates barely budged from Thursday's levels, and aside from Chicago PMI, which exceeded expectations and jumped by 11.7 points in August, effectively recovering from the lows recorded in July, few significant reports were due. Strong data out of Chicago, but not enough to push bonds into negative territory given activity overseas.

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• 30 year (FRM) rates at 4.10% (0.00).
• 15 year (FRM) rates at 3.26% (0.00).
• FHA 30 year Fixed rates at 3.75% (0.00).
• Jumbo 30 year Fixed rates at 3.98% (+0.01).
• 5/1 ARM rates at 3.22% (0.00).