Mortgage Rates 8-20-13

By Steven Roberts Updated on 8/20/2013

Are mortgage rates going up tomorrow?  According to our poll, mortgage experts predict rates will continue to peak. Today, market rates approached records highs, some higher than we have witnessed this year. A fifth consecutive day of sideway movement implies the market remains volatile. The Federal decision on tapering, still on the back burner until September, continues to deter market improvement. If it is good news you seek, experts forecast a calm before the storm. You may want to lock your rate, as future market stability is unpredictable. We may see stabilization in weeks to come before the Fed insinuates their intentions for Tapering.

 

30-year fixed-rate mortgage (FRM) rates increased by 0.06% to 4.75%. This is the new 52-week high.

15-year FRM rates increased by .06% to 3.78%. This is the new 52-week high.

FHA 30-year FRM rates have increased by .07% to 4.41%. The 52-week high is 4.56%.

Nonconforming conventional loans have increased by .05% to 4.75%. The 52-week high is 4.78%.

Adjustable-rate mortgage (ARM) Loans decreased today by 0.02%. The 5/1 year ARM is at 3.30%.