Mortgage Rate Update 9 25 14

By Stevie Duffin Updated on 9/25/2014

August durable goods came in at an 18.2 percent drop from July levels, not too far off expectations. Jobless claims, on other hand, rose less than expected, pointing to good news in the job sector. True to recent trend, mortgage bonds did not react much to the data, but instead took cues from European trading and opened higher, climbing higher still into midday. Watch for dropping mortgage rates. 

For other potential market movers this week, look out for the big, fat, final Q2 GDP reading tomorrow. 

Yesterday: New home sales went through the roof in August to 504 thousand, marking a six-year high and surpassing the 430 thousand expected. Sales soared a third above the rate year-over-year. July was also revised to be higher. 

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• 30 year (FRM) rates at 4.22 (+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 4.07% (+0.01).
• 5/1 ARM rates at 3.24% (+0.01).