If you were looking to buy a home or refinance, you might want to start thinking seriously about it soon!
Mortgage rates are holding at a low for 2017, with a 30-year fixed loan at 4% interest. To put it into perspective, the average rate for a 30-year fixed mortgage in June 1987 was 10.54%!
Although not the lowest they’ve been this year, this rate is exceptional, and it seems to be holding for the time being. However, the lack of movement by fixed mortgage rates may be the pause before they begin to ascend once again.
"Experts in the field expect that mortgage rates will remain at this plateau for now or will rise in the near future," says Christina Lane, senior mortgage loan officer with Movement Mortgage.
Redfin has now updated its…
