mortgage

Mortgage Rate Trend Index Up: May 23, 2013

Will rates go up, down or remain unchanged?

Polyana da Costa
Senior mortgage reporter, Bankrate.com

Federal Reserve Chairman Ben Bernanke probably didn't mean to push rates up with his QE3 (third round of quantitative easing) comments during Wednesday's Congressional hearing, but the market overreacted and rates might rise a bit more before they stabilize or come back down.

John Walsh
President, Total Mortgage Services, Milford, Conn.

Mortgage rates have risen all month on fears that the Fed will begin to taper QE sooner than anticipated. I believe the trend will continue and rates will rise this week.

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Updated: May 23, 2013

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30 yr fixed average
3.73%

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Mortgage Overnight Averages

Product	Rate	+/-	Last week
30 yr fixed mtg	3.73%		3.65%
15 yr fixed mtg	2.85%		2.79%
5/1 ARM	2.60%		2.59%
30 yr fixed mtg refi	3.72%		3.64%

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