Mortgage rates have remained at historically lows for the past couple of months now as the economy and the housing market alike struggle to regain control. However, with the average interest rate on almost every type of mortgage well below five percent, this is a great sign for prospective home buyers who are looking to obtain a low interest rate on their purchase.
Always remember to shop around for the best deal available because different mortgage servicing companies will offer various rates on their home loan products. Also your current credit rating and the amount of down payment will play a role when determining the interest rate you will be offered. Therefore, the rates listed below may not reflect the rates you are offered.
“The 12-month growth rate in the core price index for personal consumption , which the Federal Reserve closely tracks, has been drifting lower over the past six months ending in August and suggests inflation is running at a tepid pace at best. This allowed mortgage rates to ease to new or near record lows this week.
Today’s mortgage rates:
10-Year Fixed 3.750% – 3.750%
15-Year Fixed 3.750% – 4.125%
20-Year Fixed 4.000% – 4.375%
30-Year Fixed 4.000% – 4.375%
