30-yr Fixed Rate is at 4.000%* this week.
Rates kept at their lowest levels in over a year, keeping a 4-week stretch at 4%. However, the Fed signaled that it could increase its rate in 6 months, as opposed to its previous stance of keeping the rate at zero for a “considerable period of time”.
*This is closest “par” rate for a conventional 30-yr 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.
