Mortgage rates change daily, but by historical standards, rates are still looking pretty good. However, according to the Federal Reserve’s September minutes, rates are expected to increase, and some experts believe a rate hike is on the horizon.
According to data from Bankrate, the 30-year fixed rate mortgage rose minimally to 4.07% from 4.06%; this time last year it was 3.62%. The 15-year fixed-rate mortgage rose to 3.33% from 3.32%, and the adjustable-rate mortgage declined to 3.54% from 3.55%.
If you’re in the market for a new home or a refi, now may be an optimal time to act. Although rates have increased slightly, they are still alluring. Head over to amerisave.com and take advantage of our great rates today!