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May 2017 Mortgage Interest Rates
- originally posted May 1, 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,
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