Interest Rates Feel Effects of Government Shutdown

REAL ESTATE & MORTGAGE NEWS

Interest Rates Feel Effects of Government Shutdown By Tory Barringer - View Though the early days of the shutdown in Washington haven't made a major impact on the economy yet, concerns about what might come next drove mortgage rates down for another week.

Freddie Mac's Primary Mortgage Market Survey showed average fixed rates dropping for the third straight week, with the 30-year fixed-rate mortgage (FRM) averaging 4.22 percent (0.7 point) for the week ending October 3, down a tenth of a percentage point. A year ago, the 30-year FRM averaged 3.36 percent, only a few basis points above its all-time low.>> Read More   

7 Day Mortgage Interest Rate lock or Float Advice:FLOAT With Caution

The cost for a 3.50% rate based on Mortgage Backed Securities is down 0.23 point

Rates look like they will continue up for the foreseeable future. Lock on any improvement

30 Day Mortgage Interest Rate Lock or Float Advice:  LOCK 

MARKET INDICATORS    

• National Average for 30-Yr Fixed Mortgage Rate is down 0.10% to 4.22% on Oct 3,.
  MBS (3.5%) - Currently 101.84, High: 101.98, Low: 101.78
  DJI Stocks currently $14,999.05, Up $2.57, Change 0.017%
  Asian & European Stock Market Indexes changed 0.33%
  Crude Oil (WTI) Currently $104.04 - Change 0.71%
  Gold 1 Once - $1,317.87