Mortgage Rate Update 9 26 14

By Stevie Duffin Updated on 9/26/2014

Today the final second quarter 2014 GDP reading is in, and revised up to 4.6%. The bond markets did experience some drops, but not because of the GDP. News that Bill Gross, CEO of the world's larget bond fund PIMCO, just left the building (left or thrown out? - speculation continues) pushed bonds down. Mortgage bonds were not hit too hard, however. Watch for static or rising mortgage interest rates. 

Yesterday: 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. Mortgage rates fell.

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• 30 year (FRM) rates at 4.20 (-0.02).
• 15 year (FRM) rates at 3.35% (-0.02).
• FHA 30 year Fixed rates at 3.75% (0.00).
• Jumbo 30 year Fixed rates at 4.05% (-0.02).
• 5/1 ARM rates at 3.25% (+0.01).