Mortgage Rates 8-12-15

Another week, another update on the mortgage rates is in the books. The current rate for a 30-year fixed mortgage is 3.77 percent, which is up two basis points from this time last week. It started out a bit higher at the beginning of the week and fell to its current place on Wednesday.

 They rose after the Atlanta Fed claimed the interest rates might increase in September. Because China’s yuan has been decreasing in value, they are expecting the rates to go down a bit more.

 For the 15-year fixed rate mortgage settled at 2.96 percent, and for 5/1 ARMs, the rate is at 2.83 percent.

 Stay tuned next week for another update. Hopefully they don’t rise too high too quickly.  

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