Mortgage interest rates change daily. Keep up with current rates to make the best decision on your home mortgage.
|
CURRENT MORTGAGE INTEREST RATES |
|||
MortgageRatesReported |
30-Year Fixed |
15-year Fixed |
5/1 ARM |
|
11/12/15 |
3.97%↓ |
3.18%↓ |
2.98%↓ |
|
11/5/15 |
3.98% |
3.20% |
3.03% |
|
10/29/15 |
3.87% |
3.09% |
2.96% |
|
10/22/15 |
3.76% |
2.98% |
2.89% |
|
10/15/15 |
3.79% |
2.98% |
2.89% |
|
10/8/15 |
3.82% |
3.03% |
2.88% |
Data: Freddie Mac PMMS
This Week’s Mortgage Rate Forecast
Mortgage rates held relatively steady this week, this according to Freddie Mac’s weekly mortgage rate survey. Freddie reports the 30 year fixed rate fell a basis point from 3.98% to 3.97%. The 15 year fixed rate dropped two basis points to 3.18% from 3.20%.
The popular 5-1 hybrid ARM dropped the most to 2.98% from 3.03%. One year ago, rates were nearly exactly where they are today with the 30 year fixed rate at 3.99% and the 15 year at 3.17% and the 5-1 at 3.01%.
Click here to check current mortgage rates for FHA, VA, USDA and Conventional loans.
Will Mortgage Rates Rise or Fall?
- Geopolitical unrest and events abroad resulted in a slight shift to safety. Mortgage bonds and Treasuries saw yields fall pretty much across the board. Lower yields translates to lower mortgage rates. This tension should help keep financing costs in a relatively tight range.
- Fed minutes from the most recent FOMC meetings indicate a December rate increase, the first such move in eight years. Consumers should notice that even after the minutes were released, mortgage rates barely moved as mortgage bond investors have previously priced in the bump.
- It will be a rather quiet week on Wall Street this week due to the Thanksgiving holiday however we will be witness to the second revision of Q3 GDP as well as the Durable Goods orders for October.
Your Mortgage Rate Strategy
Most analysts expect a Fed rate increase in December, but there shouldn’t be an additional increase until mid- to late-2016.
For the next few weeks, mortgage rates should still remain within a very tight range. For those who are waiting for rates to move lower in order to refinance, it appears that opportunity is lost.
For buyers who are closing this year, it’s probably a good time to talk to your loan officer about locking in your rate if you haven’t already done so. The next major move in interest rates will be to the upside.
Click here for up-to-the-minute rates.
↔ ↑ ↓
