Mortgage Rates 10-2-13

By Steven Roberts Updated on 10/2/2013

Will interest rates go down tomorrow? The mortgage market is likely to remain flat tomorrow, according to mortgage professionals voting on our live poll. Today the market leveled off at yesterday's rates, resisting change. Investors are hesitant, as everyone anticipates the political controversy to subside. The government shutdown is preventing key economic data, which drives stock market decisions and subsequently influences the bond market and interest rates. The uncertainty of our Fed's decision to Taper remains and the limitation of data won't allow further speculation. A lengthy shutdown, will directly affect the housing market and interest rates due to the understaffing of federal employees. Hold tight for tomorrow's rate update and Friday's prediction.

30-year fixed-rate mortgage (FRM) rates declined  by .01% to 4.29%. The 52-week high is 4.85%.

15-year FRM rates decreased by .01% to 3.40%. The 52-week high is 3.90%.

FHA 30-year FRM rates dropped by .02% to 4.00%. The 52-week high is 4.60%.

Non-conforming conventional rates declined by .01% to 4.33%. The 52-week high is 4.79%.

Adjustable-rate mortgage 5/1 year (ARM) held steady at 3.13%. The 52-week high is 3.37%.