Mortgage rates slowly continue to creep up but that’s not discouraging borrowers from purchasing homes. In fact, due to historically low mortgage rates, home sales are increasing at a pace we haven’t seen since 2008.
According to data, the 30-year fixed- rate mortgage increased to 3.48% from last week’s 3.45%, and the 15-year fixed- rate mortgage increased to 2.78% from last week’s 2.75%. The adjustable rate mortgage remained the same at 2.78%.
Even with the slight increase, mortgage rates remain low and now is still an optimal time to purchase or refinance a home. Speak with a professional adviser and check out our page at www.amerisave.com to view today’s rates and get your mortgage quote in minutes.