Mortgage Rates 10-22-13

By Steven Roberts Updated on 10/22/2013

What will interest rates do tomorrow? Mortgage rates are likely to decrease, according to mortgage pros voting on our live poll. The Employment Situation Report illustrated weaker than expected job creation, indicating economic instability for September. The hesitation to hire is the result of uncertainty influenced by the shutdown. As we’ve discussed, weak data implies the Feds will continue stimulating the MBS and Treasury Bond Markets with $85 Billion per month and this keeps interest rates low. Experts believe the bond market may be safe from tapering until after February’s debt ceiling negotiation. However, Federal action is unpredictable and we have more anticipated reports coming this week. Join us tomorrow for tomorrow for your rate update and Thursday's prediction.

The 30-year fixed-rate mortgage (FRM) rates dropped by .14% to 4.14%. The 52-week high is 4.85%.

15-year FRM rates declined by .10% to 3.30%. The 52-week high is 3.90%.

FHA 30-year FRM rates decreased by .12% to 3.88%. The 52-week high is 4.60%.

Non-conforming conventional rates moved lower by .09% to 4.20%. The 52-week high is 4.79%.

Adjustable-rate mortgage 5/1 year (ARM) declined by .02% to 3.15%. The 52-week high is 3.37%.