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Mortgage Rates 8-9-2013

By Gretchen Wegrich Updated on 8/9/2013

Are mortgage rates going up tomorrow? Today's mortgage moved lower, showing more movement than rates have trended towards during the past two weeks. The shift is attributed to the Jobless Claims report released earlier today. Will mortgage rates go down tomorrow? Tomorrow's rates could continue this downward trend, but any changes are not expected to be significant. Overall, mortgage rates are expected to rise.

30-year fixed-rate mortgage (FRM) interest rates decreased by 0.04%, averaging 4.43% and shifting away from the 52-week high of 4.73%.

The 15-year FRM rates also dropped to 3.63%, moving away from the 52-week high of 3.83%.

FHA 30-year FRM rates continued to hold steady at 4.25%, below the 52-week high of 4.56%.

Nonconforming conventional loans dropped a notch lower, reaching 4.45% and situating below the 52-week high of 4.78%.

Adjustable-rate mortgage (ARM) Loans decreased today by 0.03%. The 5/1 year ARM is at 3.21%.

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About The Author:
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.

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