Mortgage Rates 8-27-13

By Steven Roberts Updated on 8/27/2013

Will mortgage rates go down tomorrow? Forecasts imply market stabilization for tomorrow’s market rates. According to our poll as of 11:43 ET, our mortgage experts predict slightly lower, but mostly steady rates as a response to the Feds statement and a series of weak economic data. Friday’s New Home Sale Report triggered a brief response by the Feds, implying an act of deliberation regarding their decision on Tapering. The anticipation for September’s decision invites inconsistent speculation and fluctuation in market rates.

30-year fixed-rate mortgage (FRM) rates sunk by 0.06% to 4.61%. The 52-week high remains at 4.67%.

15-year FRM rates decreased by .05% to 3.71%. This 52-week high is 3.85%.

FHA 30-year FRM rates sunk to 4.31% by .04%. The 52-week high is 4.56%.

Nonconforming conventional rates lowered by .03% to 4.62%. The 52-week high is 4.78%.

Adjustable-rate mortgage 5/1 year (ARM) dropped by .02% to 3.28%. The 52-week high is 3.37%.