Interest Rates on the Rise
February 13, 2018
Interest Rate Increase
We have enjoyed a long streak with low interest rates. Looks like the streak is about to end.
The year started with rates holding below 4% for 26 straight weeks. Within a two-week period, the average 30-year rate nationwide raised to 4.15% according to Freddie Mac.
Now FHA Loans averaged 4.31% in December while Conventional Loans averaged 4.32%. You may wonder why rates are higher for FHA Rates and Conventional Rates this is due to loans being considered at all credit scores and down payment levels. Freddie Mac looks at the “perfect scenario”.
Rates Report as of February 12, 2018 with increase from day before.
|
Conventional 30 yr Fixed |
4.58 |
4.591 |
+0.04% |
|
Conventional 15 yr Fixed |
4.083 |
4.102 |
Unchanged |
|
Conventional 5 yr ARM |
3.938 |
4.303 |
Unchanged |
|
30 year fixed FHA |
4.417 |
5.423 |
+0.04% |
|
15 year fixed FHA |
3.688 |
4.638 |
+0.06% |
*www.themortgagereports.com
