Mortgage News Rate Update

Here’s some good news, mortgage rates for the 30-year fixed mortgages rose this week. The current rate borrowers were quoted at 3.62 percent, which is up 6 basis points from last week. The 30-year fixed mortgage rate rose early last week, and hovered around 3.65 percent, and fell to 3.62 percent.

Experts believe the rate increase was due to strong economic activity in the U.S. and Europe. They are also expecting some volatility since the monthly job report will come out on Friday.

For the 15-year fixed mortgage rate, it was 2.87 percent, and for the 5/1 ARMs, the rate was 2.75 percent.

Just a quick update on the mortgage rates.

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