Last week the Fed decided to keep interest rates instead of raise them. While home mortgage rates are still holding relatively steady, they have decreased slightly. If you are thinking about refinancing, now may be a good time before the rates rise instead of decrease.
Here are this week's rates:
30-yr Fixed
Conventional: 3.750%* FHA/VA: 3.250%*
15-yr Fixed
Conventional: 3.000%* 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.
