Real Estate Guides
Helpful Guides - At Your Fingertips
- First-Time Buyers Guide
- Moving & Relocation
- Home Financing Guide
- School Reports
- Neighborhood Reports
- Home Selling Guide
- Home Prep And Staging Guide
- Home Sale Marketing Guide
- UPDATED: August 1st, 2017 -
Mortgage rates dropped momentarily last month and then rebounded. The result was that interest rates are pretty much unchanged heading into August. The 30-year fixed-rate on a conventional mortgage averaged 3.99%, with the 15-year rate approx 3.29%.
Next week we'll have more potentially disruptive information coming our way as the market reacts to the Fed's balance sheet unwinding announcement. This is a process that should increase mortgage rates as the Fed's holding of bonds has helped keep rates low over the past few years.
Mortgage rates unchanged for now, but the pressure is certainly on for long term mortgage rates to be on the rise during the second half of this year.
Till next month,
Not all borrowers will receive the same mortgage interest rate. Rates can vary significantly according to loan type, down payment, credit score, length or term of loan, down-payment assistance programs or subsidies, and so forth.
The long term expectation is for interest rates to rise. Don't take our low mortgage interest rates for granted. If you're financing a home right now, my best advice is to "lock-in" these historical low rates, rather than gamble. It's alwasys better be safe than sorry!
If you're in the market for a home this year, allow us to help you find the right lender and loan program, and help you take advantage of our very reasonable and low mortgage interest rates. Today’s rates are still quite a bargain!
Michael Dagner is an expert in Denver-Area home sales.
Call today, (303) 514-4000, for help with your home sale or purchase.
by Michael Dagner: Google+
Image Attributions: percent sign - sxc.hu; jenga - wikipedia
The Michael Dagner Group, Brokers Guild Cherry Creek Ltd, 7995 E. Hampden Ave, Ste 100, Denver, CO 80231 Map
5 Minutes From The Denver Tech Center - Near Tamarac Square, 9-Mile Station, & Cherry Creek Reservoir