On Monday, Nerdwallet released the average mortgage rates in the country.
| Date | 30-Year | 15-Year | 5-Year ARM |
|---|---|---|---|
| 1/9 | 6.29% | 5.61% | 6.57% |
| 1/17 | 6.13% | 5.28% | 6.61% |
| 1/23 | 6.22% | 5.26% | 6.64% |
| 1/30 | 6.24% | 5.30% | 6.63% |
| 2/6 | 6.24% | 5.46% | 6.62% |
| 2/13 | 6.72% | 5.77% | 6.79% |
| 2/21 | 6.79% | 5.84% | 6.82% |
| 2/27 | 6.93% | 6.11% | 6.91% |
| 3/6 | 7.09% | 6.06% | 7.05% |
| 3/13 | 7.88% | 5.29% | 6.99% |
| 3/20 | 6.49% | 5.84% | 6.83% |
| 3/27 | 6.85% | 5.89% | 6.78% |
| 4/3 | 6.91% | 6.10% | 6.90% |
| 4/10 | 6.66% | 5.81% | 6.96% |
| 4/17 | 6.71% | 5.97% | 7.16% |
| 4/24 | 6.57% | 5.70% | 7.21% |
| 5/1 | 6.60% | 5.70% | 7.12% |
| 5/8 | 6.72% | 5.59% | 7.13% |
| 5/15 | 6.50% | 5.64% | 7.15% |
| 5/22 | 6.81% | 5.97% | 7.47% |
| 5/30 | 7.28% | 6.34% | 7.50% |
| 6/5 | 6.67% | 5.90% | 7.39% |
| 6/12 | 6.85% | 5.98% | 7.50% |
| 6/20 | 6.83% | 6.16% | 7.51% |
| 6/26 | 6.64% | 5.91% | 7.50% |
| 7/5 | 6.81% | 6.13% | 7.63% |
| 7/10 | 6.81% | 6.13% | 7.62% |
| 7/17 | 6.737% | 5.898% | 7.568% |
| 7/24 | 6.846% | 5.965% | 7.575% |
| 7/31 | 6.883% | 6.131% | 7.547% |
| 8/7 | 6.882% | 6.292% | 7.639% |
| 8/14 | 7.169% | 6.266% | 7.899% |
| 8/21 | 7.387% | 7.376% | 7.984% |
| 8/28 | 7.251% | 6.542% | 8.166% |
| 9/6 | 7.298% | 6.486% | 8.044% |
| 9/11 | 7.334% | 6.442% | 8.079% |
| 9/18 | 7.266% | 6.506% | 8.063% |
The 30-Year fixed rate went down from last week while the other two we track rose slightly. The Federal Reserve meets on September 19th & 20th, addressing the US credit rating and the CPI report, so we expect some movement next week as a result.
What do we see in the New Orleans Market? Check out our Monthly New Orleans Market Review, which comes out the second Thursday of the month! Read the August Snapshot now!
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Link to full Nerdwallet article: https://www.nerdwallet.com/article/mortgages/mortgage-interest-rates-forecast