Mortgage Rates 12-11-13

By Steven Roberts Updated on 12/11/2013

Will mortgage rates go up tomorrow? According to mortgage professionals voting on our live poll, interest rates are likely to rise tomorrow. Politicians in Washington reached a 2-year budget deal that will prevent a potential government shutdown. This is good news for economic financial stability, but it is unclear how bond markets will respond. As we have discussed, good news is bad news for interest rates as speculation of federal tapering grows stronger. Expect volatility in the mortgage market until the Feds December 18th meeting, in which they will announce their decision on tapering off the bond purchase program. However, industry experts believe tapering will be postponed until March 2014. Check back daily for mortgage news and your daily rate update.

 

30-year (FRM) rates declined by .05% to 4.47%. The 52-week high is 4.85%.

15-year (FRM) rates fell by .04% to 3.49. The 52-week high is 3.90%.

FHA 30-Year Fixed rates remained steady at 4.25%. The 52-week high is 4.60%.

Jumbo 30 Year Fixed rates dropped by .05 to 4.42%. The 52-week high is 4.79%.

5/1 Year (ARM) rates increased by .02% to 3.25%. The 52-week high is 3.37%.