Mortgage Rates 2-28-14

By Stevie Duffin Updated on 2/28/2014

What will mortgage interest rates do tomorrow? Rates should stay the same, according to mortgage professionals voting on our daily poll.

The second GDP reading for Q4 2013 showed a disappointing 2.4%. The initial reading had been 3.2% and well beneath Q3's 4.1%. The drop is being attributed to weak consumer spending and commercial export data, an indicator of still turbulent economic recovery. Additionally, many factors that detract from GDP growth saw gains: federal, state, and local government spending; residential fixed investment; and imports. 

Weekly Initial Jobless Claims were up in the latest week by 14K, nearly 13K over the expected; it marks a one month high but did not alter the four week moving average. For the big number, stay tuned for March 7 when the Labor Department releases the February jobs report.

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• 30 year (FRM) rates at 4.35% (-0.03).
• 15 year (FRM) rates at 3.39% (-0.02).
• FHA 30 year Fixed rates at 3.75%. (-0.25).
• Jumbo 30 year Fixed rates at 4.22% (-0.02).
• 5/1 ARM rates at 3.23% (-0.01).