Mortgage rates dropped yet again, and buyers across the country are carefully watching the market to see if rates will increase sharply before the busy spring market. While it’s hard to accurately predict rates more than six months in advance, industry experts speculate that they won’t climb above 4% in 2017.
The nation’s most popular loan, the 30-year fixed, fell 8 basis points in the past week and currently stands just under 3.49%. The 15-year fixed rate loan, a more common choice among refinancing homeowners, dropped sharply to 2.74% and triggered a surge of mortgage applications just in time for the election.
In the market for a new home, but haven’t yet spoken with a lender? Be sure to ask your EveryHome agent to introduce you to a few local, knowledgeable and friendly loan officers — or just give us a call at (215) 699-5555.