Mortgage Rates 9-30-13

By Steven Roberts Updated on 9/30/2013

What will interest rates do tomorrow? The mortgage market may remain flat tomorrow as investors hold off bets on US stocks and bonds as the Government intends to shutdown tomorrow morning. The government shutdown is expected to drive up mortgage rates this week, according to mortgage professionals voting on our live poll. Federal employees will be temporarily dismissed from key administrative agencies, directly affecting the lending process and subsequently preventing home sales. The FHA also announced a bailout plea for $1.7 billion due to foreclosed reverse mortgages. The mortgage market is volatile, however it may remain an attractive alternative to stocks, depending on this week’s Chicago PMI and ISM Manufacturing Index Reports. Join us tomorrow for your rate update and Wednesday's prediction.

 30-year fixed-rate mortgage (FRM) rates rose slightly by .01% to 4.29%. The 52-week high is 4.85%.

15-year FRM rates increased by .01% to 3.41%. The 52-week high is 3.90%.

FHA 30-year FRM rates reamined flat at 4.00%. The 52-week high is 4.60%.

Non-conforming conventional stabilized at 4.33%. The 52-week high is 4.79%.

Adjustable-rate mortgage 5/1 year (ARM) rose by .02% to 3.10%. The 52-week high is 3.37%.