Nov 01, 2014

October 2014 Mortgage Interest Rates

- originally posted October 1, 2014 -

Mortgage interest rates rose mid-September on concerns that the Fed could raise rates sooner, than later. Although that's the market speculating again, it's also the reason for the recent volatility with interest rates.

Even if mortgage rates remain unchanged and at current levels (4%-4.5% -30-yr fixed), we're definitely moving into a market where there's upward pressure on rates. Barring some geo-political disaster or anything of similar affect, rates should continue to creep upward.

That's where we are heading into October 2014. If you've been on the fence about buying a home, do not wait.
Higher interest rates will only cost you more when you do buy a home.

Nothing affects affordability more than a couple points uptick in the rates. I suggest you buy sooner than later and get into the market while we're in a seasonal slowdown through the end of the year, and while interest rates are low.

See "today's rates", below.  Till Next Month,

Michael Dagner

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