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% |
| 9/25 | 7.441% | 6.650% | 8.152% |
| 10/2 | 7.500% | 6.719% | 8.172% |
Rates only ticked up by a few percentage points with the 15-Year Fixed Mortage Rate having the most significant increase of .069, bringing the total to 7.719%. With Congress reaching a 45-day extension for the government shutdown, we’ll see the consumer and economic reports for September, allowing the Federal Reserve to decide on future rates during their October 31st meeting. Hopefully, good reports and a final agreement from Congress will allow for rates to settle down.
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Link to full Nerdwallet article: https://www.nerdwallet.com/article/mortgages/mortgage-interest-rates-forecast