Mortgage Rates 7-29-2013

Are mortgage rates going up or down tomorrow? The answer falls somewhere in line with Friday's minor improvements, which analysts say are simply preparing for major market events set to take place this upcoming week. The directional movement of mortgage rates is unknown, but extreme volatility is possible. Rates could shoot back up to the highs reached July 5, or may plummet down into the low 4s. In general, rates are rising.

The 30 year fixed rate mortgage best execution rate is 4.44%, a decrease of 0.04% from Friday. Today's rates shifted away from the 52-week high, which remains 4.73%.

The 15 year fixed rate mortgage best execution rate is 3.64%, an decrease of 0.02% from yesterday. The 52-week high is 3.83%.

The FHA 30 year fixed rate mortgage best execution rate held steady at 4.25%.

The Jumbo 30 year fixed rate mortgage best execution rate receeded to 4.51%, moving lower by 0.04%.

The 5/1 year Adjustable Rate Mortgage (ARM) best execution rate climbed to 3.24% and moved slightly nearer to the 52-week high of 3.37%.

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.