July Mortgage Rates

Mortgage interest rates remain the same as compared to last month. Of course, rates did push a bit higher in June, but there hasn’t been another increase…yet. Some reports indicate that rates may be leveling off for a time, and according to Mortgage News Daily COO, Matthew Graham:

Specifically, we’ve now seen rates do a good enough job of “not moving any higher” than they had been in June. Now, as opposed to simply bracing for the next impact, we can consider that the next significant move could be in either direction.

(View source)

 
Mortgage interest rates remaining at low rates like these is a good thing.
 

Mortgage Rates as of 7/28/15

Mortgage Type July 2015 June 2015
30-Year Fixed  3.937% APR 3.937% APR
15-Year Fixed  3.203% APR  3.203% APR
30-Year FHA  4.324% APR  4.324% APR
5/1-Year ARM  3.020% APR 2.849% APR
30-Year Fixed Jumbo  3.674% APR  3.551% APR

Source: totalmortgage.com

I will continue to keep and eye on mortgage rates and report my findings on the website. For now, rates appear to be semi-stable at a respectable 4% for a 30-year fixed mortgage.
 

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