Mortgage Rates 8-14-13

By Steven Roberts Updated on 8/14/2013

Are mortgage rates going up tomorrow?  Unfortunately, it seems tomorrow’s rate will increase as it has today. The fluctuation is due to the reaction to yesterday’s Retail Sales Report. The Employment Report released August 2^nd had stabilized lower market rates until today’s peak. Expect an increase in rates tomorrow unless action is taken by the Federal government regarding tapering, which may take place in upcoming months. Fortunately, the FHA 30-year FRM and ARM loan rates were not affected.

30-year fixed-rate mortgage (FRM) interest rates increased by 0.10% to 4. 51%.  Rates are increasing, however remain lower than the 52-week high of 4.73%.

The 15-year FRM rates increased by .07% to 3.69%. The 52-week high is 3.83%.

FHA 30-year FRM rates have stabilized at 4.25%. The 52-week high of 4.56%.

Nonconforming conventional loans increased slightly to 4.54%, still less than the 52-week high of 4.78%.

Adjustable-rate mortgage (ARM) Loans decreased today by 0.01%. The 5/1 year ARM is at 3.23%.