Mortgage interest rates change daily. Keep up with current rates to make the best decision on your home mortgage.
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CURRENT MORTGAGE INTEREST RATES |
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MortgageRatesReported |
30-Year Fixed |
15-year Fixed |
5/1 ARM |
|
12/10/15 |
3.95%↑ |
3.19%↑ |
3.03%↑ |
|
12/3/15 |
3.93% |
3.16% |
2.99% |
|
11/25/15 |
3.95% |
3.18% |
3.01% |
|
11/19/15 |
3.97% |
3.18% |
2.98% |
|
11/12/15 |
3.98% |
3.20% |
3.03% |
|
11/5/15 |
3.87% |
3.09% |
2.96% |
Data: Freddie Mac PMMS
This Week’s Mortgage Rate Forecast
The 30 year fixed rate moved up slightly this week, up two basis points from 3.93% to 3.95%.
The 15 year fixed rate also moved higher to 3.19% from 3.16% from the previous weeks’ survey. The popular 5/1 Yr ARM edged up over the 3.00% mark once again from 2.99% to 3.03%.
One year ago, the 30 year fixed rate was at 3.89% and the 15 year at 3.10%, very near where they are today.
Click here to check current mortgage rates for FHA, VA, USDA and Conventional loans.
Will Mortgage Rates Rise or Fall?
- The Fed wraps up the last round of FOMC meetings for 2015 this week and most analysts are expecting the first rate increase in eight years. If in fact that happens don’t expect rates to rise accordingly, as investors have already priced a 0.25% rate bump some time ago.
- Rates could move upward before the end of the year but the economy does not appear strong enough to require or even sustain another rate increase of 0.25% in the near future. That means we can expect interest rates to remain very near where they are today for the next few weeks, barring any economic surprises.
- Most eyes will be on the FOMC meetings set for the 15th and 16th but we will also get a glimpse on retail inflation very early, as the Consumer Price Index is revealed for November.
Your Mortgage Rate Strategy
The economy appears to be showing some signs of waking up from its slumber yet Wall Street is still acting cautiously. The Dow is still struggling to close above the 18,000 mark and this keeps money in bonds and Treasuries.
For interest rates, a slow recovery means investors will tend to keep funds in securities longer and will leave stocks much more quickly should economic signs point to a slowdown.
Geopolitical events can also play a part when investors are seeking a safe haven for their funds. For the rest of the year, we can expect interest rates to remain relatively stable.
