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What’s Ahead For Mortgage Rates This Week – January 13, 2014

By
Mortgage and Lending with First Midwest Bank - a division of Old National Bank - Conventional / VA / Jumbo / FHA/ USDA 143306

Mortgage Rates Mixed

Freddie Mac’s Primary Market Survey reported mixed results for average mortgage rates last week. The rate for a 30-year fixed rate mortgage dropped to 4.51 percent from 4.53 percent with discount points lower at 0.70 percent; the rate for a 15-year fixed rate mortgage was 3.56; this was one basis point higher than for last week.

Discount fell from 0.70 to 0.60 percent. The rate for a 5/1 adjustable rate mortgage jumped by 10 basis points to 3.15 percent with discount points unchanged at 0.50 percent.

This Week

This week’s scheduled economic news includes retail sales and retail sales except autos, the Federal Reserve’s Beige Book report, Weekly Jobless Claims, Freddie Mac’s PMMS. The NAHB Home Builders HMI and the Housing Starts report will also be released. Friday’s release of the University of Michigan’s consumer sentiment index rounds out the week.

To see what rate you would qualify for (home purchase or refinance), please email me at n.coleman@Comcast.net or call me at 708-349-7467.

Posted by

Neil Coleman

Licensed Mortgage Professional

NMLS # 143306

Office: 708.349.7467

Serving Illinois, Indiana, Wisconsin, Iowa, Michigan, Florida, California, Colorado, Arizona, Utah

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