Mortgage Rates 10-1-13

By Steven Roberts Updated on 10/1/2013

What will interest rates do tomorrow? Market rates are predicted to resist change tomorrow morning, according to mortgage professionals voting on our live poll. The mortgage market remained stable today, increasing slightly in response to the decision to temporarily shut down the government. An estimated 800 thousand employees will be dismissed from key government agencies, adversely affecting the lending process and release of crucial economic data. The FHA announced a bailout plea for $1.7 billion due to foreclosed reverse mortgages. The market remains volatile as there is limited data available to prevent the Feds anticipation to taper. If it is good news you seek, the 10-year Treasury bond regains strength today rising by 1.19% to 2.65. This could be an indication of market improvement. Join us tomorrow morning for your rate update and Thursday’s mortgage rates prediction.

30-year fixed-rate mortgage (FRM) rates rose slightly by .01% to 4.30%. The 52-week high is 4.85%.

15-year FRM rates remained stable at 3.41%. The 52-week high is 3.90%.

FHA 30-year FRM rates increased by .02% to 4.02%. The 52-week high is 4.60%.

Non-conforming conventional rates elevated by .01% to 4.34%. The 52-week high is 4.79%.

Adjustable-rate mortgage 5/1 year (ARM) rose by .03% to 3.13%. The 52-week high is 3.37%.