Mortgage Rates - "Mortgage rates fell for the third week in a row, with the average 30-year, fixed-rate loan going for 3.81 percent, down from 3.92 percent last week.. ..."
Low Rates Are Likely Here For The Near-Term
In Spite Of Fed Rate Hikes, Turmoil In World Markets Keeps Interest Rates LowThere was some worry that the recent rise in interest rates put in place by the Federal Reserve last month was a precursor to higher home loan rates. This may be true in the longer run, especially if the Fed continues with incremental rate increases, but, for now, home interest rates are still historically low. If they're not actually declining, at least they're steady. Last week the average 30-year fixed-rate mortgage fell to as low as 3.81 percent. The 30 Year Fixed Rate Today is back up to 3.84 ... but that's not a big climb. So ... what's the deal? And, more importantly, what does it mean to the consumer? Amid current world-stock market troubles, price-war induced low oil prices, and economic chaos going on in China, most indicators show that Mortgage Home Loan Rates should remain low for the immediate future and may even get a bit cheaper in the near-term! Here's a recent post on the Redfin blog by Senior Analyst Lorraine Woellert. It contains the info you need to know from the latest survey of rates by Freddie Mac.
Mortgage Rates: Down They Go Again | RedfinRedfin Blog
"That’s (3.81 percent) the lowest they’ve been since October, according to Freddie Mac, which surveys lenders every week. And given all that’s going on in the world–stock market woes, falling oil prices, and economic unease in China–it’s a decent bet home loans will get even cheaper, at least in the near term."Read More Here: https://www.redfin.com/blog/2016/01/mortgage-rates-down-they-go-again.html