Sep 01, 2016

September 2016 Mortgage Interest Rates

- originally posted September 1, 2016 -

Average fixed mortgage rates are virtually unchanged from the previous month, and remain near all-time record lows.

The 30-year fixed-rate mortgage is averaging 3.4%, while the FHA rate was closer to 3.25%. The 15-year conv fixed is currently hovering around 2.75%.

Mortgage rates have consistently been stable and in a holding pattern for much of the summer. That said, with the recent and positive news from the labor market and improving economic activity, the Fed may be eyeing a rate increase for later this month. All bets are off the table on where that would utimately go,
however. The last time the Fed raised it's rate, long-term mortgage rates actually dropped.

Till next month,

Michael Dagner

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