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Daily Rate Update: Mortgage Rates Creep Higher Despite Closed Markets

Posted to: Mortgage Rates Update
Tuesday, October 30, 2012 5:38 PM

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Average Mortgage Rates
	TODAY	YESTERDAY	CHANGE
30 Yr FRM	3.43	3.41	0.02%
15 Yr FRM	2.80	2.78	0.02%
FHA 30 Year	3.25	3.25	0.00%
Jumbo 30 Year	3.83	3.81	0.02%
5/1 Yr ARM	2.99	2.98	0.01%
» View Current Mortgage Rates » Compare Mortgage Rates		Updated: 10/30/12 2:59 PM

Oct 30, 2012 3:38PM

Mortgage Rates Creep Higher Despite Closed Markets

Mortgage rates rose slightly on Tuesday, even though financial markets were fully closed due to Hurricane Sandy. The market closure meant that there was no trading on the secondary mortgage market, but most lenders remained open, and released rate sheets accordingly. Without indications from MBS (the Mortgage-Backed-Securities that most directly influence rates), there was no unified theme among lenders, though perhaps a bit of " uncertainty premium ." Some rate sheets were unchanged from Friday...

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