Mortgage Rate Update 9 29 14

By Stevie Duffin Updated on 9/29/2014

Mortgage bonds are higher today thanks to overseas data and month-end trading dynamics. This is despite stronger than expected personal spending and personal income data out of our own economy, with 0.5 and 0.3 percent jumps, respectively. Watch for falling mortgage interest rates. 

For other potential market movers this heavier week, tune in tomorrow for consumer confidence, Case Shiller, and Chicago PMI, Wednesday for ADP employment data and construction, Thursday for jobless claims, and Friday for employment data galore. 

Friday: The final second quarter 2014 GDP reading came in, and revised up to 4.6%. The bond markets did experience some drops, but not all because of the GDP. News that Bill Gross, CEO of the world's larget bond fund PIMCO, left the building pushed bonds down. Mortgage bonds were not hit too hard, however.

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