August Mortgage Rates
Mortgage interest rates remain low! As mentioned last month, 5 year arms and 30 year fixed jumbo rates (as of today, loans above $546,250) were up slightly–but rates remained the same as July. I spoke with several sources and received varying opinions (of course), but the consensus seems to be that rates are going to remain about the same. Earlier in the year, it was predicted that rates were going to rise, especially in the fourth quarter, but now that doesn’t seem to necessarily be true. Predictions are always subject to changing market conditions, but the overall tenor seems to be continued low rates.
Here’s a chart with current mortgage rates. Since they are same as last month, I didn’t include a historical comparison.
Mortgage Rates as of 8/26/15
| Mortgage Type | August 2015 |
| 30-Year Fixed | 3.937% APR |
| 15-Year Fixed | 3.203% APR |
| 30-Year FHA | 4.324% APR |
| 5/1-Year ARM | 3.020% APR |
| 30-Year Fixed Jumbo | 3.674% APR |
Source: totalmortgage.com
While I feel like a broken record here, at least it’s a good tune–that is, mortgage rates are low. I’ll continue to keep you posted.
Ready to make your own move? Contact me to find out:
Want to be emailed any time a property comes to the market?
[ARForms id=107]
Related Links
- Compare local lenders mortgage rates
- Common types of home mortgages explained
- Factors Affecting Mortgage Rates: Your credit score
The information provided through this site is not financial or legal advice, but rather general information about financial and legal issues commonly encountered in the residential mortgage process. This site is not sponsored by a financial or legal services firm and is not a substitute for an expert financial and/or legal advisor familiar with the particular facts and circumstances of your personal mortgage matter. The sponsors of this site do not provide financial or legal advice, but rather facilitate consumer self help through provision of information.