Mortgage rates have really shot upward pretty quickly/sharply since the Presidential Election results. This is primarily as a result of how the market/economy has reacted to the results (among other factors). Of course, there's no way of knowing for sure if this trend will continue, but I would continue to caution home-shoppers that it could be a very bumpy ride on mortgage rates over the coming weeks and months (or even longer). However, historically speaking, current mortgage rates are still INCREDIBLY low compared to most times throughout the history of the market, and it still remains an EXCELLENT time to buy a home! Here is a general range of current market
CURRENT AVERAGE MARKET RATES
4.0% to 4.25% (* APR 4.153% - 4.403%)
3.375% to 3.625% (* APR 3.572% - 3.822%)
4.0% to 4.375% (* APR 4.102% - 4.4.477%)
.0% to 4.375% (* APR 4.412% - 4.787%)
4.375% to 4.75% (* APR 4.475% - 4.875%)
NMLS ID: 204787
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The FEDERAL RESERVE decided to INCREASE the Federal Funds Rate today.
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