Mortgage Rates 2016Interest on mortgages 2016
What are the mortgage rates? Luckily, mortgage rates are profiting from the poor information. Last night we received our first Post-Brexit Freddie Mac Primary Mortgage Market Survey (PMMS).
Not surprisingly, mortgage interest rates have fallen a little and are now at new low levels. For a 30-year straight mortgage, the mean interest paid dropped to 3.48% (0.5 points); for a 15-year straight, the mean interest paid dropped to 2.78% (0.4 points); and for a 5-year straight, the mean interest paid dropped to 2.70% (0.5 points).
Last year, when mortgage rates were so low, was May 2013, and perhaps the most striking thing is that the 30-year benchmark is only 17 base points above the all-time low of 3.31%. Please click here to get the latest mortgage rates. There'?s a hunch where the prices go from here.
Please click here to get the latest mortgage rates. Mortgages have a powerful trend to catch up with 10-year yields, so all this is good news for potential home buyers or home owners looking to re-finance at a lower interest rates. Everybody's most popular feeding monitoring instrument - the Federal Reserve Fund's future - still shows a very small possibility of a 2016 interest rate-raise.
This means that July, September and November are almost certain that there will be no interest increase. You actually have an oh-so-small shot at a fall in interest rates. Before Brexit, December was seen as a nearby block on interest rates. A 1% opportunity to raise the interest rates. It is quite possible that this figure will shift in the coming week and month, but at the moment a 2016 interest rate-raise seems to be a very unlikely one.
The rates are still close to records low. Mortgages rates are on new 3. 5-year lows. Yeah. There are many occasions to latch at a low rate, I would just suggest that you do it earlier rather than later as there is no cognition when rates are jumping back up. Please click here to get the latest mortgage rates.
Today's business data: The rates are still close to records low. If he' s not currently penning on mortgage-related subjects, you can find him gambling ping-pong or whammying on his electrician.