Mortgage Rates 11-08-13

By Steven Roberts Updated on 11/8/2013

What will interest rates do Monday? Market rates are likely to increase in response to better-than-expected data from the October Jobs Report. Wall Street is thriving today, both in stocks and bonds, but be weary of higher interest rates, as investors fear the Feds anticipation to begin tapering off mortgage-backed securities. The improvement in our Gross Domestic Product (GDP) is also a key leading economic indicator (LEI), implying the economy is regaining stability despite the government shutdown. Expect volatility today and early next week, as investors may be trigger happy with speculation before subsiding to higher yield stock investments. You may want to consult with your lender about locking rates today before a potential surge in interest rates. Check back this afternoon for a market rate and news update.

30-year (FRM) rates decreased by .01% to 4.29%. The 52-week high is 4.85%.

15-year (FRM) rates remained at 3.41%. The 52-week high is 3.90%.

FHA 30-year Fixed rates held steady at 3.95%. The 52-week high is 4.60%.

Jumbo 30 Year Fixed rates declined by .01% to 4.28%. The 52-week high is 4.79%.

5/1 year (ARM) rates decreased by .02% to 3.17%. The 52-week high is 3.37%.