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September 2016 Mortgage Interest Rates
- originally posted September 1, 2016 -
Average fixed mortgage rates are virtually unchanged from the previous month, and remain near all-time record lows.
The 30-year fixed-rate mortgage is averaging 3.4%, while the FHA rate was closer to 3.25%. The 15-year conv fixed is currently hovering around 2.75%.
Mortgage rates have consistently been stable and in a holding pattern for much of the summer. That said, with the recent and positive news from the labor market and improving economic activity, the Fed may be eyeing a rate increase for later this month. All bets are off the table on where that would utimately go,
however. The last time the Fed raised it's rate, long-term mortgage rates actually dropped.
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