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Mortgage Rates Update > 10/09/13

The Primary Mortgage Markets had a relatively calm day with no major changes in rates across the board. Major lenders have warned though, that expectations for the 2nd half of the year are not promising. Yet, these warnings come even though the U.S. housing market is posting its strongest year-over-year gains since the tail end of the real-estate boom in 2006. Major lenders have ramped up their mortgage businesses in the last couple of years to take advantage of a surge in refinancing activity that was encouraged by historically low rates.

The 30-year fixed rate held firm in the 4.30% range, as did the 15-year fixed rate, holding in the 3.42 range, while the 5/1 year ARM increased to the 3.14% range. The FHA 30-year rate also increased, for a third straight day, to the 4.49% range.

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