Monday, May 13, 2013

US Mortgage Rates Trending Up: Record Week for Stocks Impacting Bond Market

Tuesday, May 7th marked the first day the Dow Jones Industrial Average closed above 15,000. This is the fastest start to any year since the bull year of 1999.

This success on the stock market is coupled with losses in the bond market. Bonds finished the week down 53bps. This caused interest rates to drop below the 50 day moving average and the average rate on a 30-year fixed mortgage to increase to 3.60% with .31 in discount points.

Since interest have broken a crucial floor by going under the 50 day moving average, it will be interesting to chart the fluctuation over the next few days. Has the market already bottomed out for 2013, or will we see interest rates go back down?

United Home Loans keeps their borrowers in Illinois, Indiana, Michigan, Minnesota and Wisconsin well informed of market fluctuations by advising on the best time to lock in a rate. Stay updated on the market to take advantage of low interest rates before they disappear.


United Home Loans provides Illinois mortgage loans in addition to mortgages in Indiana, Michigan, Minnesota and Wisconsin. Check out our rates below and call us with any mortgage related questions at (708) 531-8388.


Illinois Mortgage Rates
IL 30 Year Fixed mortgage as of May 13, 2013 3.490%/3.500 APR
IL 15 Year Fixed mortgage as of May 13, 2013 2.625%/2.694 APR

Please click this link for APR assumptions and more IL mortgage rates


Indiana Mortgage Rates
IN 30 Year Fixed mortgage as of May 13, 2013 3.490%/3.500 APR
IN 15 Year Fixed mortgage as of May 13, 2013 2.625%/2.694 APR

Please click this link for APR assumptions and more IL mortgage rates


Michigan Mortgage Rates
MI 30 Year Fixed mortgage as of May 13, 2013 3.490%/3.500 APR
MI 15 Year Fixed mortgage as of May 13, 2013 2.625%/2.694 APR

Please click this link for APR assumptions and more MI mortgage rates

Minnesota Mortgage Rates
MN 30 Year Fixed mortgage as of May 13, 2013 3.490%/3.500 APR
MN 15 Year Fixed mortgage as of May 13, 2013 2.625%/2.694 APR

Please click this link for APR assumptions and more MN mortgage rates

Wisconsin Mortgage Rates
WI 30 Year Fixed mortgage as of May 13, 2013 3.490%/3.500 APR
WI 15 Year Fixed mortgage as of May 13, 2013 2.625%/2.694 APR

Please click this link for APR assumptions and more WI mortgage rates


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