Mortgage rates current should stay low for the foreseeable future thanks to the Federal Open Market Committee (FOMC). The FOMC had their meeting and released their statement pretty much saying the economy is still moving along slowly and they will keep interest rates where they are at zero percent, this will keep mortgage rates near record lows.
More importantly the Fed will continue to by U.S Treasuries to keep interest rates low. Mortgage rates are usually tied to bond yields, when yields go lower mortgage rates go lower. When you search for mortgage rates use a mortgage calculator with taxes and insurance to help you figure out which mortgage fits your financial needs.
30 year conforming mortgage rates are under 5.00% and have been under 5.00% since the third quarter of 2010. Rates were as low as 4.25% but have since come back up and current mortgage rates on 30 year loans are around 4.75%.
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