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John F. O'Hara

John F. O'Hara
731 W Skippack Pike  Blue Bell  PA 19422
Phone:  610-277-4060
Office:  215-643-3200
Cell:  267-481-1786
Fax:  267-354-6973
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Current Economy Keeps Lid on Mortgage Rates

July 18, 2016 1:18 am


Mortgage rates, slow to react to Brexit, remain below 4 percent.

According to Bankrate.com’s weekly rate report, the 30-year fixed mortgage rate is averaging 3.57 percent, with an average 0.23 discount and origination points. The 15-year fixed mortgage rate is averaging 2.85 percent, with an average 0.20 discount and origination points. The 7-year adjustable mortgage rate is averaging 3.23 percent, and the 5-year adjustable mortgage rate is averaging 3.04 percent. The jumbo 30-year fixed mortgage rate is averaging 3.67 percent.

Borrowers obtaining a 30-year fixed mortgage at the current average rate can expect to pay $905.92 monthly. 

Close to three-quarters of mortgage experts surveyed by Bankrate.com expect rates to rise only marginally in the next week, due to the sluggish state of inflation, interest rates and economic growth globally.

Source: Bankrate.com
 

Published with permission from RISMedia.