Mortgage Rates 7-12-2013

Will mortgage rates go up tomorrow? The likely answer is that rates are experiencing significant volatility and could easily shift in either direction. Today's rates moved downwards, reversing yesterday's losses. Will mortgage rates go down tomorrow? The likely answer is that while rates are low by historic standards and may continue to recover from last week' s losses, rates are not expected to return to the record lows achieved earlier this year.

The 30 year fixed rate mortgage best execution rate is 4.54%, a shift of -.09% from yesterday's rate of 4.63%. Today's rates shifted downwards from the 52-week high of 4.73%.

The 15 year fixed rate mortgage best execution rate is at 3.72%, an decrease of -0.07% from yesterday's rate of 3.79% and a shift away from the new 52-week high established this week.

The FHA 30 year fixed rate mortgage best execution rate dropped from 4.47% to 4.37%.

The Jumbo 30 year fixed rate mortgage best execution rate is at 4.60%, down from yesterday's mark of 4.70%.

The 5/1 year Adjustable Rate Mortgage (ARM) best execution rates saw the smallest downward movement, shifting from 3.37% to 3.34% and moving away from yesterday's new 52-week high.

Gretchen Wegrich

Gretchen Wegrich is an editor at Lender411. She specializes in mortgage basics, personal finance and green living. She graduated with a bachelor's degree in writing from University of California, San Diego and previously worked at the Santa Cruz Sentinel. Contact her at gretchen@lender411com.