Mortgage Rates 10-10-13

By Steven Roberts Updated on 10/10/2013

What will interest rates do tomorrow? Market rates have risen today and may follow this same behavior tomorrow. Lender's rate sheets showed improvement and a short-term compromise is in negotiation by House Republicans and Democrats, regarding a temporary increase in the debt ceiling. Stocks rose and bond markets declined. Expect fluctuations in this volatile market place as trigger happy investors are anxious and speculation is high. Keep in mind, weak economic data and political controversy may improve interest rates, as it prevents the Feds from tapering off mortgage-backed securities. The October 17^th Federal deadline for a budget leaves one week for error, a stalemate in negotiation could lead to a US default. Check back tomorrow for your rate update and Monday's rate prediction.

30-year fixed-rate mortgage (FRM) rates remained at 4.33%. The 52-week high is 4.85%.

15-year FRM rates staggered back to 3.42%. The 52-week high is 3.90%.

FHA 30-year FRM rates declined by .01% to 4.01%. The 52-week high is 4.60%.

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

Adjustable-rate mortgage 5/1 year (ARM) decreased by .02% to 3.12%. The 52-week high is 3.37%.