Mortgage rates remained relatively stable this week, despite continued global economic unrest. The average 30-year fixed rate loan increased slightly to 4.10% from 4.08% a week earlier, according to the Mortgage Bankers Association (MBA). Jumbo loans remain a bit lower at 4.03%.
While rates remain historically low, mortgage applications dipped 6.2% this past week. The indecisive mortgage market may be spurned in part by the Federal Reserve’s upcoming meeting. Some industry insiders speculate that the Fed will raise interest rates, which may affect mortgage rates. Other experts believe that rates won’t rise significantly until December or later.