Interest Rates Starting to Climb a Bit, Still Low

Checking interest rates today it looks like rates are beginning to climb a bit again with BankRate.com showing 4.10% for a standard 30 year fixed and 3.27 for 15 year fixed rate. Both are up from rates in the previous two weeks, however they are still historically very low and lower than we’ve seen in months.

This means if you’re sitting on the fence, hoping for lower interest rates, you need to make a decision soon as this trend of increasing rates could continue for the next few weeks or months and get back into the 4.5%+ range soon.

 

Mortgage rates 30-year fixed 15-year fixed 5/1 ARM 30-year jumbo
10/29/2014 4.10 3.27 3.11 4.11
10/22/2014 4.05 3.21 3.14 4.10
10/15/2014 4.01 3.23 3.09 4.09
10/8/2014 4.18 3.37 3.27 4.21
10/1/2014 4.27 3.44 3.29 4.29
9/24/2014 4.30 3.46 3.32 4.31
9/17/2014 4.33 3.46 3.35 4.37
9/10/2014 4.27 3.42 3.29 4.35
9/3/2014 4.24 3.37 3.25 4.29
8/27/2014 4.23 3.38 3.32 4.29

Check with your lender on their own current rates as they do vary by program and often by lender. Also, for those working with a bank, while banks do often have great programs, remember they are also often limited to their own loan programs so it wouldn’t hurt to get a quote from a Mortgage Broker as well just to ensure you’re getting the best deal. If you don’t know a mortgage broker, feel free to reach out to me, I have several I work with frequently that I would be happy to refer you to.

And of course, if you’re not already working with a Realtor for that home search, let me know so I can find that perfect home for you!

Scott

Everything. Portland. Real Estate. Blog.

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