Mortgage Rates 12-17-13

By Steven Roberts Updated on 12/17/2013

Will interest rates go down tomorrow? It is difficult to be sure, as the direction of mortgage rates are directly correlated to the Feds Monetary Policy Statement tomorrow. However, mortgage professionals voting on our live poll are confident the Fed will announce their decision to taper off mortgage backed securities, subsequently driving a surge in interest rates. The mortgage market has been calm for day's, because investors are hesitant to make a move until the announcement. Today's economic data, the Consumer Price Index, illustrated a growth of confidence in the economy and increased spending this holiday season. In addition, a compromise on our 2014 fiscal budget has led to a stronger interest in stocks and less in bond markets. Positive economic data may give the Feds support to beging easing off their current stimulus. Due to the volatility of the mortgage market, industry experts suggest that you lock today and avoid the potential surge in interest rates. Check back at 11 A.M. PT tomorrow for an update on the Feds announcement and the effect on mortgage rates.

 

 30-year (FRM) rates resisted change at 4.57%. The 52-week high is 4.85%.

15-year (FRM) rates remained steady at 3.58. The 52-week high is 3.90%.

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

Jumbo 30 Year Fixed rates escalated by .01 to 4.51%. The 52-week high is 4.79%.

5/1 Year (ARM) rates decreased by .01% to 3.25%. The 52-week high is 3.37%.