Mortgage Rates 7-16-2013

Are mortgage rates going up tomorrow? Mortgage rates continue to demonstrate instability and could easily shift in either direction. Today's rates moved lower yet again, recovering the losses experienced last week. Are mortgage rates going down tomorrow? Although rates are quite low by historic standards and may continue to recover from recent losses, rates are not expected to acvhieve the record lows of the first quarter of 2013.

The 30 year fixed rate mortgage best execution rate is 4.46%, a downward movement of -.04% from yesterday. Today's rates shifted further from the 52-week high of 4.73%.

The 15 year fixed rate mortgage best execution rate is 3.66%, a small decrease of -0.03% from yesterday's rate of 3.69% and a shift away from the new 52-week high established last week.

The FHA 30 year fixed rate mortgage best execution rate also dropped from 4.30% to 4.25%.

The Jumbo 30 year fixed rate mortgage best execution rate lowered to 4.57%, moving lower by -0.03%..

The 5/1 year Adjustable Rate Mortgage (ARM) best execution rates followed the trend, decreasing from 3.30% to 3.27% and moving away from yesterday's new 52-week high.

Gretchen Wegrich

Gretchen Wegrich is an editor at Lender411. She specializes in mortgage basics, personal finance and green living. She graduated with a bachelor's degree in writing from University of California, San Diego and previously worked at the Santa Cruz Sentinel. Contact her at gretchen@lender411com.