Jan 01, 2016

January 2016 Mortgage Interest Rates

- originally posted January 1, 2016 -

The long awaited rise in interest rates finally came. Job Creation beat expectations in the month of December and that put upward pressure on mortgage interest rates.

The interest rate hike was our first since prior to the great recession, which has translated into slightly higher payments for home-buying customers. Although the rate hike is slight, short-term interest rates will be affected more than the long-term home mortgages.

As of January 1st 2016, the average rate on a 30-year conventional mortgage loan was hovering around 4.1%.

With the financial markets still on vacation-mode through the first full week of January, there was little else to report as we began the new year. Not much will be occurring on the economic calendar until mid-January, so there should be few surprises through mid-month.

Happy New Year!

Michael Dagner

Michael Dagner is a real estate professional in Denver, Colorado.