30-yr Fixed Rate is at 4.375%* this week.
Though only an increase of 0.125%, rates are up to their highest point since July, continuing their gradual but steady increase since Spring.
All eyes are on the Fed who will likely take measures to increase the Fed rate in October.
*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.
