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Mortgage Rates Update > 10/16/13

The U.S. Mortgage Markets saw modest improvements today amid progress in the capitol. The developments in Washington, pushing the debt ceiling debate to next February and confidence in a speedy end to the government shutdown which would release important employment data from the Fed, sent markets on a late rally.

The average 30-year fixed rate fell to 4.35%, back from yesterday’s closing at the 4.39% range. The average 15-year fixed rate closed the day at 3.46%, down from 3.52%, while the average 5/1 year ARM increased slightly to the 3.16% range.

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