Mortgage Rates Increase Slightly on Friday, September 12
Today, mortgage rates saw a small uptick compared to yesterday’s rates. Here are some key points to consider:
- The average 30-year fixed mortgage rate is currently at X.XX%, up from yesterday’s rate of X.XX%.
- The average 15-year fixed mortgage rate is now at X.XX%, a slight increase from yesterday’s rate of X.XX%.
- Adjustable-rate mortgages (ARMs) also saw a modest increase, with the 5/1 ARM now at X.XX% compared to yesterday’s rate of X.XX%.
Possible Questions and Answers
Why did mortgage rates increase today?
There are several factors that can influence daily fluctuations in mortgage rates, including changes in the bond market, economic data releases, and geopolitical events. Today’s increase may be due to a combination of these factors.
Should I lock in my rate or wait for rates to drop again?
Deciding whether to lock in a mortgage rate or wait for a potential decrease can be a challenging decision. It’s a good idea to consult with a financial advisor or mortgage broker to determine the best course of action based on your individual financial situation.
Will mortgage rates continue to rise in the coming days?
It’s difficult to predict with certainty how mortgage rates will move in the future. Keeping an eye on economic indicators and staying informed about market trends can help you make more informed decisions about when to lock in a rate.
Overall, while today’s increase in mortgage rates may be a bit disappointing for potential homebuyers, it’s important to remember that rates are still historically low, making this an opportune time to take advantage of favorable borrowing conditions.
