Feb 01, 2017

February 2017 Mortgage Interest Rates

- originally posted February 1, 2017 -

Mortgage rates were up in December, and began dropping again after the new year. As we enter February 2017, mortgage rates moved lower for the third consecutive week. Without much job and wage growth yet by the new Trump administration, mortgage rates are in a holding-pattern, of sorts.

The 30-year conventional rate is currently holding around the 4.25% mark, with the 15-year near 3.5%. Despite the recent ups and downs, mortgage interest rates continue to hover near the lows of last year.

With the chaos we've seen this past few weeks in Washington DC, markets and interest rates will likely experience high volatility during the months ahead. Looking further down the road, interest rates may well continue the upward trend that we witnessed in the weeks after the election. Occasional shifts in the market will bring some downward dips, so be prepared and be prepared to lock those rates.

Till next month,

Michael Dagner

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