Mortgage Rates 10-11-13

By Steven Roberts Updated on 10/11/2013

Will interest rates rise Monday? Mortgage experts predict a minimal rise, but mostly stable market rates on Monday, according to our live poll. The stalemate continues as House Republicans and Democrats negotiate an adjustment to next year’s fiscal budget. Stocks rose and bond markets declined, however interest rates ended nearly unchanged from yesterday. The market is volatile without sufficient economic data. Investors are making drastic movements on pure speculation, like our "potential" short-term compromise yesterday. Keep in mind, weak economic data and political controversy may improve interest rates, as it will prevent the Feds from tapering off mortgage-backed securities. The Federal deadline for a budget compromise is essential to avoid US default on national debt. Check back Monday for your rate update and Tuesday's prediction.

30-year fixed-rate mortgage (FRM) rates stabilized at 4.38%. The 52-week high is 4.85%.

15-year FRM rates remained stable at 3.47%. The 52-week high is 3.90%.

FHA 30-year FRM rates were unchanged at 4.05%. The 52-week high is 4.60%.

Non-conforming conventional rates declined by .02% to 4.35%. The 52-week high is 4.79%.

Adjustable-rate mortgage 5/1 year (ARM) decreased by .01% to 3.10%. The 52-week high is 3.37%.