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- UPDATED: October 1st, 2017 -
Mortgage rates moved 'slightly' higher in the past two weeks, but remain mostly unchanged from a month ago. Interest rates have fallen 1/2 percent from their highs back in March when they were approaching 4.5%. The 30-year fixed rate is currently 3.9%, with the 15-year fixed holding around 3.25%.
2017 hasn't turned out to be a year of skyrocketing mortgage rates as originally thought. Why have mortgage rates steadily been dropping? A number of factors have been at play in keeping rates in decline, including low inflation, lingering economic concerns, serious geopolitical issues, all which have played into the bigger picture.
Despite these low rates, market 'trends' do not show signs of these low rates continuing much longer. With the prospects of significant tax reforms coming out of Washington soon, this will suggest higher rates may be here sooner than later.
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.
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The Michael Dagner Group, Brokers Guild Cherry Creek Ltd, 7995 E. Hampden Ave, Ste 100, Denver, CO 80231 Map
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