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June 2016 Mortgage Interest Rates
- originally posted June 1, 2016 -
We are now seeing some of the lowest mortgage interest rates in over a year. Keeping that in perspective though, rates have been hovering close to rock-bottom since February 2016. Disappointing employment news and numbers continues to push interest rates lower. As of June 1st, the rate on 30-year FHA loan is 3.30%, and 15 year loans are almost 3% even.
Home buyers in the Denver market continue to take advantage of these falling interest rates, which have actually remained low throughout all of 2016 so far.
Sentiment from industry experts is that any interest rate hike is largely off the table for this months' Fed meeting, mid-June. There just isn't enough economic support for raising rates right now, barring something earth-shattering happens before then. Aside from daily ebbs and flows, interest rates should remain pretty low and relatively stable for the next few weeks.
Till next month,
Michael Dagner is a real estate professional in Denver, Colorado.
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