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Mortgage Rates Update > 2/16/2013

After a rising trend in previous weeks, rates bounced around in a narrow range for the past week.  U.S. and European economic indicators continue to show positive signs, creating more headwinds for mortgage rates   which were recently at historic lows.

Average 30 year mortgage rates for the past week hovered around 3.8% while average 15 year mortgage rates remained near 3.05%.  30 Year FHA mortgage rates remained exceptionally low for the week at 3.4% and 5/1 ARM rates improved to around 2.7%.

The outlook for mortgage rates moving forward remains uncertain with much still depending on economic performance.  Historically, current rates are still at previously unheard of levels with significant risk to move higher.

 

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