Mortgage Rates 10-23-13

By Steven Roberts Updated on 10/23/2013

What will interest rates do tomorrow? Mortgage professionals believe market rates will decrease slightly, remaining moderately stable, according to our live poll. The market improved yesterday due to weak Non-Farm Payroll data and there is no reports to be released today. Our economic instability will continue to prevent tapering off mortgage-backed securities. Interest rates are expected to remain low until 2014 as the Fed stimulates the housing and bond markets with $85 Billion per month. Stock and bond markets have opened in negative territory in response to China’s debt concern. Join us this afternoon to see how interest rates respond.

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%.