Sep 29, 2015

September 2015 Mortgage Interest Rates

- originally posted September 1, 2015 -

Mortgage interest rates moved slightly lower the beginning of September. Last week's market turmoil in China sent investors fleeing from stocks into bonds, and that forced interest rates down. The 30-year conventional fixed rate mortgage is near 4%, as of Sept 1.

Recent news affecting interest rates is that the threat of inflation is almost non-existent. With the decline in economic activity in China and abroad, these markets are scrambling to lower their prices on goods to stimulate their economies. That, in turn, keeps inflation in check, especially with the current over-supply of oil and our declining energy prices.

Prior to the Chinese market tumble, most economists were anticipating a Federal Funds rate increase at the next Fed meeting in September. Any increase will likely be forestalled through the end of the year.

Till next month,

Michael Dagner

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