Jan 01, 2015

December 2014 Mortgage Interest Rates

- originally posted December 1, 2014 -

In November mortgage rates fell to their lowest levels since summer of 2013. This drop in rates is fueled by weak economic data, including a poor jobs report and higher than expected umemployment numbers for this time of the year. Currently, rates are holding steady at near 4% for a conventional 30 year fixed, and slightly below that for a 30-year FHA loan.

Heading into December mortgage lenders are seeing very light mortgage activity across the country. Although the Denver market is reporting stronger than usual sales for this time of the year, those sales numbers are being held-back by our low inventory.

What to watch for through the remainder of the year is whether the unemployment numbers get revised downward, or if personal income and spending changes from the strong numbers we're seeing (and continue to expect through the holidays), or if inflation fears kick-in. To date, inflation hasn't been an issue and is in-line with expectations.

Till Next Month,

Michael Dagner

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