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Mortgage Rates 5-8-14

By Stevie Duffin Updated on 5/8/2014

What will mortgage interest rates do tomorrow? Rates should stay the same, according to mortgage professionals voting on Lender411's daily poll.

Mortgage rates are down thanks to some major gains in mortgage bonds after European Central Bank announcements pointed to hesitation this morning, and then most notably from Fed Chairwoman Janet Yellen who said that for Quantitative Easing to cease this coming fall, the U.S. labor markets will need to improve significantly. She also mentioned that rates in general are unlikely to rise until the U.S. is showing more sure signs of strong economic recovery. No new news there, but some good news for home buyers looking to lock. 

Yesterday: A disappointing first reading of Q1 Productivity (down 1.7%) and increased labor costs are contributing to stronger mortgage bonds today. In better news, mortgage applications were up 5.3% in the latest week, according to the Mortgage Bankers Association's Market Composite Index. The upswing is being attributed to lower mortgage rates and taken as a sign of improving housing market health. 

Bookmark this page for daily mortgage interest rates and market updates.

  • 30 year (FRM) rates at 4.20% (-0.04).
  • 15 year (FRM) rates at 3.32% (-0.03).
  • FHA 30 year Fixed rates at 3.75% (-0.15).
  • Jumbo 30 year Fixed rates at 3.98% (-0.02).
  • 5/1 ARM rates at 3.21% (-0.04).

Displaying rates for Mortgage Refinance in CA for $200,000

5.067%

APR
30 Year Fixed
4.990% Rate $1,073/mo
  • Updated September 24, 2018
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4.836%

APR
30 Year Fixed
4.750% Rate $1,044/mo
  • Updated September 24, 2018
  • Save when you borrow from PenFed!

5.176%

APR
30 Year Fixed
5.125% Rate $1,089/mo
  • Updated September 24, 2018
  • Fast, Powerful and Completely Online
  • Get an approval to buy a home or refinance your mortgage in minutes.
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5.250%

APR
30 Year Fixed
5.250% Rate $1,105/mo
  • Updated September 24, 2018
  • Get a free and no obligation rate quote in California.
  • Direct Lender.
  • Call now and lock-in your low rate!

5.176%

APR
30 Year Fixed
5.125% Rate $1,089/mo
  • Updated September 24, 2018
  • Refinance to a get a lower payment, cash back or a faster payoff.
  • Rates are still low, but they may rise. Lock your rate today.
  • We have the right loans for first-time and experienced home buyers.

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About The Author:
Stevie Duffin
Stevie is the Senior Editor at Lender411. She manages the site's Authorship Program and social media pages. Stevie graduated from UC Santa Barbara with a BS. Contact her: stevie@lender411com.

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