30-yr Fixed Rate is at 3.875%* this week.
Rates are up from the lows of the end of January/beginning of February, due in part to some stability in the Ukraine/Russia crisis and oil prices. Still, they are lower than the 2014 average.
All but 2 Fed chairpersons have signaled that they will vote to raise the Fed rate in June. Mortgage rates will likely increase before in anticipation.
*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.
