Mortgage Rates 11-01-13

By Steven Roberts Updated on 11/1/2013

Will interest rates go up tomorrow? Market rates are predicted to remain stable or decrease slightly, according to mortgage professionals voting on our live poll. The mortgage market has moved sideways, resisting change, all week until yesterday. Interest rates rose slightly and may settle back to Wednesday’s rates tomorrow. Industrial economic data matched expectations this morning, illustrating growth in manufacturing despite the government shutdown. The FOMC announcement yesterday implied hesitation to taper before the economy has regained strength. The 10-Year Treasury Bond has increased today to 2.61, which can be a good indication of MBS strength and lower interest rates. However, investor’s speculation will drive bond markets as they react to economic data, so beware of volatility in the mortgage market. Check back this afternoon to see how rates will behave.

30-year (FRM) rates increased by .03% to 4.14%. The 52-week high is 4.85%.

15-year (FRM) rates moved up by .03% to 3.28%. The 52-week high is 3.90%.

FHA 30-year (FRM) rates rose by .03% to 3.83%. The 52-week high is 4.60%.

Jumbo 30 Year Fixed rates increased by .02% to 4.14%. The 52-week high is 4.79%.

5/1 year (ARM) rates increased by .01% to 3.12%. The 52-week high is 3.37%.