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November 2014 Mortgage Interest Rates
- originally posted November 1, 2014 -
Mortgage rates dipped in mid October, and have been flat since. The rate on a 30-year FHA is near 3.75%.
The stock market took a tumble last month, and headline news about weakening European financial markets was also not good. Those issues may have contributed to our easing interest rates. Nothing else has been on the horizon though, that has shaken-up the mortgage or bond markets in recent weeks.
There has been talk about lower inflation and dropping unemployment numbers that could force the Fed to begin raising interest rates. Although inflation has been virtually non-existent, and unemployment numbers continue to drop (currently at 5.9% nationally), the Fed remains reluctant to raise rates.
One important factor that could have a lot to do with the reluctance of the Fed to raise interest rates, is their stimulus program (mortgage bond purchases) that just ended in October. They are watching cautiously to see how the markets react, before pursuing any further course of action about changing interest rates.
See "today's rates", below. 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