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Daily Rate Update: Mortgage Rates Stabilize After Opening at Highest Levels Since September

Posted to: Mortgage Rates Update
Friday, January 04, 2013 5:55 PM

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Average Mortgage Rates
	TODAY	YESTERDAY	CHANGE
30 Yr FRM	3.53	3.49	0.04%
15 Yr FRM	2.87	2.84	0.03%
FHA 30 Year	3.26	3.25	0.01%
Jumbo 30 Year	3.73	3.69	0.04%
5/1 Yr ARM	2.97	2.98	-0.01%
» View Current Mortgage Rates » Compare Mortgage Rates		Updated: 1/4/13 3:32 PM

Jan 4, 2013 5:07PM

Mortgage Rates Stabilize After Opening At Highest Levels Since September

Mortgage rates continued higher today , reaching their worst levels since before the Fed announced the specific buying program of Mortgage-Backed-Securities (MBS) referred to as QE3. MBS are the tradable securities that have the most direct effect on lender's mortgage rates. Simply put, yesterday's news showed a less unified ideology among members of the FOMC ("Federal Open Market Committee," or simply, the Fed, which votes on the policies that dictate the MBS purchases). Markets aren't concerned...

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