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Mortgage Rates Update > 10/07/2013

After slight increases last week with the government shutdown looming, mortgage rates have resumed the downward trend. They have been falling since the Federal Reserve said last month it will not begin tapering its monthly purchases of mortgage-backed securities and Treasuries, which has kept interest rates low.

The 30 year fixed rate fell to the 4.30% range, down from last weeks ending mark of 4.33%. The 15 year fixed rate fell to the 3.42% range down from last week’s low of 3.45%, and the 5/1 year ARM slipped from 3.15% last week, to 3.12% to start the week. The FHFA 30 year rates rose slightly to 4.45% range, while the 15 year rate settled in the 3.67% range.

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