While rates are still relatively the same there was a slight decline. This is a great time to take advantage of interest rates being this low. Due in part to the fact that China's growth rate dipped below 7%, there is speculation the Fed might even wait to raise rate until next year but here is no sure way to tell how long they will stay this way!
Here are this week's rates:
30-yr Fixed
Conventional: 3.625%* FHA/VA: 3.250%*
15-yr Fixed
Conventional: 2.875%* FHA/VA: 2.875%*
*These are the closest “par” rates for the different types of mortgages. They assume 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 specific risk factors will affect interest rates.
