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Mortgage rates for 30-year and 15-year fixed loans, as well as 5/1 ARMs, all slipped lower today, according to a NerdWallet survey of daily mortgage rates published by national lenders Thursday morning.

The Federal Reserve is in a “wait and see” mode for now — monitoring the economy and delaying interest rate hikes until later in the year, at the earliest.

The bond market seems to be on hold as well, with little direction. A big news event can change that. Meanwhile, stocks are reaching new highs, in a bull market now well into its ninth year.

This morning, mortgage rates took back most of yesterday’s gains. And that’s been the summer pattern. Since mid-May, fixed-rate mortgage loans have been simply wobbling, mostly within a one-eighth-point (0.125%) range. Lenders aren’t making any significant moves on pricing.

That’s good news for borrowers looking to be at a loan-closing table soon.


(Change from 7/26)
30-year fixed: 4.07% APR (-0.04)
15-year fixed: 3.46% APR (-0.02)
5/1 ARM: 3.88% APR (-0.01)

NerdWallet daily mortgage rates are an average of the published annual percentage rate with the lowest points for each loan term offered by a sampling of major national lenders. APR quotes reflect an interest rate plus points, fees and other expenses, providing the most accurate view of the costs a borrower might pay.

Hal Bundrick is a staff writer at NerdWallet, a personal finance website. Email: Twitter: @halmbundrick.

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