While the June rate hike anticipated by the Fed hasn't happened, the economy is improving, and with some soft inflation, rates are continuing to move up. The Fed has pushed the expected rate hike to September, so these rates are still good compared to what we can expect to see in coming months.
Here are this week's rates:
30-yr Fixed
Conventional: 4.000%* FHA/VA: 3.625%*
15-yr Fixed
Conventional: 3.250%* FHA/VA: 3.000%*
*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.
