Today’s Rates and Your Choice of a Mortgage Rate

Anyone would all want to be in the loop for the latest in mortgage rates. When rates go down as they have done the past few weeks, expect homeowners’ or homebuyers’ hopes to go up for a purchase or a refinance. Relatedly, it’s a common dilemma to choose between fixed and variable types for a mortgage rate. Which type is right for you? Mortgage Rates Are Going Down Markets that react to geopolitical and economic conditions in and outside of the U.S. carry mortgage rates wherever they need to be. As of late, mortgage rates have descended closer to pre-election results levels. Freddie Mac, which has tracked prevailing rates on conventional conforming mortgages, reported that as of the week ended June 29, 30-year fixed-rate mortgages (FRM) averaged 3.88%. Based on the historical weekly data released by Freddie Mac, 30-year FRM rates stood at 3.57% on November 10. A week after that, they climbed to 3.94% and thus began their ascent to 4.32% by the time 2016 ended. The 30-year FRM fell a few notches at the start of 2017 with 4.20%, reached a new peak in March at 4.30%, and fell to 3.88% in late June. Freddie Mac’s current weekly survey also covered average rates on...


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