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Is It Too Late to Get a Good Mortgage Rate?

Posted by Bonnie Martin Designated Broker on Monday, July 22nd, 2013 at 8:10am. - Freddie Mac released the results of its Primary Mortgage Market Survey this week, which indicated that average fixed mortgage rates have declined slightly in the wake of the sharp increase after the Federal Reserve’s announcement that it will slow its bond-buying program in the near future.

Average interest rates on a 30-year fixed mortgage have dropped to an average of 4.37 percent from last week’s 4.51 percent. Fifteen-year home loans also fell from 3.53 percent to an average of 3.41 percent this week. Though experts in the field are saying that rates may still continue to rise, albeit at a steadier pace than the initial spike.

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