Mortgage Interest Rates Keep Dropping Making Now A Great Time to Buy or Refinance

We’re at a period in the real estate market where many people thought interest ratwes would be climbing back up into the 5’s or higher but they are dipping down to 3.5%, making right now an excellent time to either buy a home in Austin or refinance your home.

What’s driving mortgage rates today?

Average mortgage rates edged down again yesterday, in line with our prediction. That makes three days of falling rates and one when they held steady in the last four business days. But recent falls have barely made a dent in the damage wreaked during the Sept. 5-13 period. Of course, mortgage rates today still remain remarkably low by almost all standards.

So far this morning, markets look set for another subdued day. And with no economic reports due for publication, things might stay that way. However, there’s always the risk of a big news story — or even just a shift in market sentiment — creating disruption

Mortgage rates today look likely to hold steady or just inch either side of the neutral line. But, as always, events might overtake that forecast.

Program Rate APR* Change
Conventional 30 yr Fixed 4.125 4.125 Unchanged
Conventional 15 yr Fixed 3.75 3.75 Unchanged
Conventional 5 yr ARM 4.625 4.42 Unchanged
30 year fixed FHA 3.458 4.444 Unchanged
15-year fixed FHA 3.458 4.407 Unchanged
5-year ARM FHA 3.458 4.703 Unchanged
30-year fixed VA 3.458 3.63 Unchanged
15-year fixed VA 3.458 3.769 Unchanged
5-year ARM VA 3.458 3.904 Unchanged

 

Search for Homes in Austin

To learn more about mortgage interest rates, or to search for a home in the area, contact me today by calling 512-944-7378 or connect with me online by clicking here.


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