Mortgage Rates 8-16-13

By Steven Roberts Updated on 8/16/2013

Are mortgage rates going up tomorrow?  Higher rates are to be expected. Considering the consecutive surge in mortgage rates this week, do not anticipate an immediate decrease. As forecasted, the Consumer Price Index and Jobless Claims Report inspired a peak in this month’s mortgage rates. Fluctuation is probable, however this month has not yet seen the end of escalation. The Federal decision on tapering, still on the back burner until further notice, continues to affect current market decisions.

30-year fixed-rate mortgage (FRM) rates increased by 0.07% to 4.59%. The 52-week high is 4.73%.

15-year FRM rates increased by .05% to 3.75%. The 52-week high is 3.83%.

FHA 30-year FRM rates have increased by .03% to 4.28%. The 52-week high is 4.56%.

Nonconforming conventional loans increased by .08% to 4.63%. The 52-week high is 4.78%.

Adjustable-rate mortgage (ARM) Loans decreased today by 0.02%. The 5/1 year ARM is at 3.26%.