Weekly Mortgage Update ~ Oct. 22nd: Lock or Float & the Week Ahead

The 15-Year Fixed Rate Mortgage averaged 6.08%, up from 6.06% just last week.

The 1-Year Adjustable Rate Mortgage averaged 5.76%, up from 5.73% just last week.

Fannie Mae 30-Year Fixed (60) Sixty Day Average is at 6.19%.

Fannie Mae 30-Year Fixed (30) Thirty Day Average is at 6.16%.

Long-term mortgage rates held steady in light of mixed economic reports. As you can see however, short-term rates have rallied downward as the bond market has improved through increased demand. We can expect yet lower interest rates today but we'll be monitoring the market closely as earnings and credit reports will continue to influence the market.

Mortgage Rates Report:
Be sure to visit our new section titled Daily Mortgage Rates Report for a view of current interest rates trends. Don't play the guessing game and don't let yourself be seduced by low-ball offers. Instead, make a financial decision based on guided, real-time market research!

Mortgage Rates Report - October 19, 2007

Mortgage Rates Report - October 18, 2007

Mortgage Rates Report - October 17, 2007

The Fed Funds Rate:
The next scheduled meeting is October 31st at which point we expect the Fed to hold the Fed Funds Rate steady at 4.75%.

The Fed Funds Rate was cut the first time around in an effort to loosen the credit markets and help economic expansion. Amidst a somewhat improved credit market, it does not appear the Fed will...

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