30-year Fixed Rate is at 4.000%* this week.
Following a string of losses in the stock market, mortgage rates hit a low for the year. This is a prime opportunity to buy or refinance in light of the Fed's scheduled rate hike in January.
*This is closest "par" rate for a conventional 30-year mortgage. It assumes very good credit, sufficient equity, and the absence of other negative risk factors (e.g. property use, cash-out or not, loan amount, etc.). Different mortgage types (such as FHA and VA) and specific risk factors will affect interest rates.
