Mortgage rates are on the rise, but remain historically low and well under the 4% threshold. The benchmark 30-year fixed rate home loan creeped 6 points higher this past week and currently stands at 3.93%. The 15-year fixed rate mortgage (a popular option for refinancing homeowners) jumped 11 points to 3.17%, whereas the 30-year fixed jumbo loan actually decreased by ten basis points to 4.20%.
Each week, Bankrate.com surveys a panel of mortgage lenders and experts to assess their opinion on whether or not rates will trend higher, lower, or remain unchanged for the following week. The majority of the panelists predict that rates will remain stable over the following week, or trend slightly higher.
If you’re interested in learning more about financing your next home or would like to meet with a lender, be sure to give us a call at (215) 699-5555.