Mortgage Rates 10-17-13

By Steven Roberts Updated on 10/17/2013

Will interest rates go up tomorrow? Market rates are likely to decrease tomorrow as they have done today. Washington will reopen the government and the debt ceiling has been temporarily increased. Compromise on next year’s fiscal budget must be final by January to avoid another Federal gridlock. The shutdown had adverse effects on the stock, bond and housing markets. Speculation of Federal tapering will subside as experts predict the Fed will wait for a strong improvement in economic stability and market rates may be volatile in response to much anticipated economic data reports. Fluctuation is to be expected this following week. Join us tomorrow for your rate update and Monday's prediction.

The 30-year fixed-rate mortgage (FRM) rates dropped by .10% to 4.29%. The 52-week high is 4.85%.

15-year FRM rates declined by .07% to 3.41%. The 52-week high is 3.90%.

FHA 30-year FRM rates decreased by .06% to 4.00%. The 52-week high is 4.60%.

Non-conforming conventional rates declined by .06% to 4.30%. The 52-week high is 4.79%.

Adjustable-rate mortgage 5/1 year (ARM) increased by .05% to 3.17%. The 52-week high is 3.37%.