Despite slight fluctuations, rates continue at mostly the same level as past weeks. The economy is improving, but the global market outlook keeps rates lower despite it. The Fed meets next week, so we could expect a rate hike after that time, if they suggest one. Now is a good time to keep an eye on rates, as we could soon see some bigger changes.
Here are this week's rates:
30-yr Fixed
Conventional: 3.875%* FHA/VA: 3.375%*
15-yr Fixed
Conventional: 3.250%* FHA/VA: 3.125%*
*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.
