Nov 02, 2015

October 2015 Mortgage Interest Rates

- originally posted October 1, 2015 -

Mortgage rates danced up-and-down for much of last month. Rates are now improving, and they're actually the best we've seen them over the past 90 days. The 30-year conventional fixed rate mortgage was hovering around 3.9%, as of Oct 1st.

The big news is that The Fed held off on hiking interest rates mid-September, citing continuing concerns over global economic issues in China and the European nations.

China is struggling with a continuing down-slide of their industrial output, and this has forced US stocks down. That's been good new for interest rates, as bond prices have risen on the increased demand over safety.

Pressure to raise interest rates hasn't gone away, its just been delayed. The Fed continues to signal that they're "more likely than not" to raise interest rates yet this year. Home buyers may still have a few more months to take advantage of the current low rates. See today's market rates, below.

Till next month,

Michael Dagner

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