Apr 01, 2016

April 2016 Mortgage Interest Rates

- originally posted April 1, 2016 -

Mortgage rates are slightly higher now than this time last month, when interest rates hit rock bottom. Rates went so low that they now have nowhere to go but up. The interest rate on a 30-year fixed-rate conventional mortgage is currently about 3.75%. While the 15-year is hovering around the 3% mark. That's really great news for home buyers heading into April.

Federal Reverse chair, Janet Yellen, announced earlier this week that future interest rates increases will be slow to come. She essentially took-off the table any immediate rate-hike threats for the coming few months. The Fed does not appear too concerned with inflation hurting the economy either, at least not right now.

There's much more data and news arriving in the days to come, and that may bring some adjustments to this market report early next week. For now, that's all folks!

Till next month,

Michael Dagner

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