Average U.S. rates on fixed mortgages declined again this week.

The following was posted by Polyana da Costa • Bankrate.com

Mortgage rates stayed down this week as  investors waited for Congress to reach a budget agreement, end the shutdown and  raise the country’s debt ceiling.

30 year fixed rate mortgage – 3 month trend

30 year fixed rate mortgage – 3 month  trend

The benchmark 30-year fixed-rate mortgage fell to 4.39 percent from 4.41  percent last week, according to the Bankrate.com national survey of large  lenders. The benchmark 15-year fixed-rate mortgage was 3.47 percent, the same as last  week, and the benchmark 5/1 adjustable-rate mortgage fell to 3.34 percent from  3.4 percent. The benchmark 30-year fixed-rate jumbo stayed at 4.58 percent.

Read more:  http://www.bankrate.com/finance/mortgages/mortgage-analysis.aspx#ixzz2hnsSqoOQ

The low rates continued to attract buyers and refinancers even during the  shutdown, lenders say.

“We’ve seen a nice uptick in applications,” says Brett Sinnott, director of  secondary marketing for CMG Mortgage in San Ramon, Calif.

The volume of refinance applications increased 3 percent last week from the  previous week, according to the Mortgage Bankers Association. The volume of  applications from buyers decreased 1 percent.

Many lenders had feared they wouldn’t be able to process and close loans  until the government reopened, mainly because with closures at the Internal  Revenue Service, lenders cannot obtain tax transcripts as they normally do when  underwriting loans. But Fannie Mae and Freddie Mac have issued guidelines  allowing lenders to obtain the transcripts after the loan closes, after the IRS  reopens.

Although some lenders have encountered obstacles and some delays, for the  most part, loans are closing as scheduled, mortgage professionals say.

Read more:  http://www.bankrate.com/finance/mortgages/mortgage-analysis.aspx#ixzz2hntglQ6y