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Mortgage Rates Update > 7/2/2013

Graph of 30-Year Conventional Mortgage Rate
Mortgage rates climbed higher again today while surging from the momentum of record rate increases seen at the end of last month. Current mortgage rates increased moderately above last weeks levels, though not at the rate of increase seen last month which could indicate a general leveling off of mortgage backed securities.

Average mortgage rates for 30-year mortgages today climbed slightly to the 4.5% range after large increases we saw last week while 15-year fixed mortgage rates showed more strength, remaining near 3.75%. Current FHA mortgage rates also climbed again to 4.375% and average 5/1 ARM rates remain a huge bargain near 3%.

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