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- UPDATED: April 1st, 2018 -
The Fed raised short-term interest rates 2-weeks ago, but this had little change to mortgage rates, which actually fell for the first time this year. Although the impact on mortgage rates was negligible, ARM loans and HELOCS are rising. The decision to raise rates by a quarter-point, now raises the federal funds rate to its highest level in 10 years.
The 30-year conventional mortgage averaged 4.48% for the week ending April 1st, 2018.
Denver's housing market remains pretty resilient despite higher mortgage rates. Prices continue to rise as we enter the spring market. Read market report, BELOW.
CURRENT MORTGAGE INTEREST RATES
30 yr FHA - 4.25%
30 yr Conv - 4.48%
15 yr - 3.86%
Jumbo - 4.50%
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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