Mortgage Rates August 20, 2013
Well, quite unexpectedly, bonds finally made a bit of a recovery this morning. After far too many days of slipping further and further south, investors have decided they look attractive again. Everyone is looking for the bargain bin deal and bonds seem to be it (for the moment at least). Interestingly enough, stocks are also higher this morning. However, we don’t expect it to stay that way. And if stocks move lower (as we think they might) then bonds could gain an extra bounce off of the support.
Also in the news, the Stochastic report shows that bonds have been oversold. So we may be in for a reversal. Expect to begin today floating but don’t take your eye off the ball. Be prepared to lock your rates if there are any changes; things have been so up and down recently we wouldn’t be surprised.
August 20, 2013 our updated mortgage rates in Florida are:
- 30 Year Fixed Rate Mortgage – 4.25% (4.45% APR)
- 15 Year Fixed Rate Mortgage – 3.25% (3.593% APR)
There are no major reports being released today, but tomorrow we’ll see the Mortgage Applications, Existing Home Sales, and Fed minutes. This should give us a better idea as to what the Fed plan to do about tapering, as that fateful date in Sept is inching closer and closer. As stated before, the Treasury will not be releasing any notes this week. We’ll have to wait and see if this affects bonds at all. Certainly, it did not seem to help them at all last week.
Check back tomorrow to get the newest rate updates!
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