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 |
|
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% |
|
10/29/15 |
3.76% |
2.98% |
2.89% |
|
10/22/15 |
3.79% |
2.98% |
2.89% |
Data: Freddie Mac PMMS
This Week’s Mortgage Rate Forecast
Mortgage rates drifted a bit lower, this according to Freddie Mac’s most recent mortgage rate survey.
The survey reported the 30 year fixed rate fell from 3.97% to 3.95% while the 15 year fixed rate held steady at 3.18%. The popular 5/1-ARM rose slightly to 3.01% from 2.98%.
Mortgage rates in general have been in a very tight range for the past four weeks with little to indicate a major move in either direction.
Click here to check current mortgage rates for FHA, VA, USDA and Conventional loans.
Will Mortgage Rates Rise or Fall?
- Investors are still putting funds into mortgage bonds and Treasuries as a safety play, keeping mortgage rates in check while equities are holding their own. Conforming rates have been below 4.00% since late July.
- There will be a host of economic reports released this week with the November jobs numbers potentially having the most impact. While the unemployment rate is expected to fall, it won’t be by much, according to industry analysts. The rate for October came in at 5.1% and November could fall to 5.0%.
- Job creation rather than the unemployment rate will hold the most sway. October’s surprise saw 271,000 new non-farm jobs created but for November we could see job creation falter slightly as a count under 200,000 is expected. If this holds true, rates should remain well below 4.00%.
Your Mortgage Rate Strategy
It’s almost a given there will in fact be a rate boost at the Fed’s next round of FOMC meetings December 15-16.
There will also be a press conference held by Fed Chair Janet Yellen at the conclusion of the two day event. Comments by various Fed officials have indicated a definite bias toward the first Fed Funds rate increase in eight years.
The expectations of a rate move this month by so many is helping to keep rates in a very tight range while the Dow appears to be settled in just below 18000.
In fact, should the Fed stay on the sidelines and not raise the Fed Funds rate this time around, investors could read that non-action as an economy much weaker than expected. If this happens, we could see rates drift a bit lower throughout the rest of the month.
Click here for up-to-the-minute rates.
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