Reported 7 months ago
Mortgage rates have remained stable, with the 30-year fixed rate at 6.74%, 15-year fixed rate at 6.32%, and 5/1 ARM rate at 6.73%. These rates have stayed elevated in expectation of the Federal Reserve maintaining the federal funds rate this month. Despite the high rates, it might be a decent time for hopeful home buyers to act, as inventory is increasing in summer and mortgage rates are not expected to drop significantly soon.
Source: YAHOO