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Mortgage Rates Update 10/14/13

U.S.  Mortgage Rates held firm today after a hectic closing last week. The government shutdown and the debt ceiling have been causing rates to fluctuate. With talks ongoing between both parties in the capital, the markets were quiet amid hopes of a speedy outcome.

The average 30-year fixed rate held firm at 4.35%, the average 15-year fixed rate starts the week at 3.47%. The average 5/1 year ARM rose slightly to 3.14%, up from last week’s closing at 3.13%.

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