Mortgage Rates Rising Next Year?

Posted by Anastasia Sheldon on Tuesday, December 10th, 2013 at 8:03pm.

Job creation is up. Unemployment is down.
Hot on the heels of a very strong 3rd Quarter GDP report (+3.0%); The November Jobs Report was released a few days ago and it revealed that employers created 203K jobs last month -- well above the 188K expected.  The Unemployment Rate fell to a 5-year low of 7%.  The general consensus now is that the Fed will have no choice but to begin tapering sooner than later…
Here are the rates as of Dec. 6th:
CONFORMING RATES
($200,000 - $417,000) 0 POINTS
• 30 Year Fixed:
4.625% (4.70% APR)
• 5/1 ARM: 3.125% (3.20% APR)
JUMBO RATES
($625,501 - $2,000,000) 0 POINTS
• 30 Year Fixed: 4.500
% (4.55% APR)
• 5/1 ARM: 3.000% (3.05% APR)
CONFORMING (HIGH-BALANCE) RATES
($417,001 - $625,500 cap by county) 0 POINTS
• 30 Year Fixed: 4.875% (4.94% APR)
• 5/1 ARM:
3.500% (3.56% APR)
RATE TRENDS
Rates are UP compared to last week.
Rates are UP
 compared to last month.
Rates are UP
compared to one year ago
 
Anastasia Sheldon

Anastasia Sheldon

Direct 415-302-4123

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