Reported 10 months ago
As of June 19, 2024, mortgage rates have slightly increased, with the 30-year fixed rate at 6.60%, the 15-year fixed rate at 5.87%, and the 5/1 ARM rate at 6.73%. Recently, ARM rates have been resembling or surpassing fixed rates, prompting borrowers to consider their options. While ARMs offer potentially lower initial rates, the unpredictability of future rate changes makes fixed-rate mortgages a safer choice. The article also discusses the current housing market conditions, the advantages of getting a HELOC in 2024, and provides guidance on choosing the right mortgage rate in the present climate.
Source: YAHOO