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- UPDATED: May 1st, 2017 -
Investor concerns over weak economic data have helped to push interest rates lower than expected in recent weeks. Rising international tensions also have weighed heavily on the markets.
30-year fixed-rate conventional mortgages averaged 4.10%, and the 15-year fixed rate mortgage were holding at 3.35%.
The combined perceived risks in the stock and commodity markets have kept mortgage rates stable and affordable, as Spring buyers rush to secure their home purchases. This has been great news for home shoppers, so enjoy them while you can!
Although bonds and treasury securities are typically a favorite 'safe haven' for investors during times of market uncertainty, there are other factors at play which can cause interest rates to rise again. In the months to come, continuing interest rates hikes appear imminent by 'The Fed' as it prepares to deal with rising concerns over inflation. The Fed will hold another meeting in June, so we'll see how soon another round of rate hikes occur.
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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