Bye Bye 4% Mortgage Rates

The end of an era is coming, the death of the 4% interest rate is not far off. If you’ve been watching mortgage rates for the past few months you’re well aware rates are on the rise, but it looks like they are about leave the 4% arena for good. In the past few weeks here in Massachusetts we’ve seen mortgage rates dance above 5% for a little bit but come back down. It is unlikely though we will see them go back down to the 50 year lows they were at earlier in the year. As mortgage rates begin to rise you can expect to see a small surge in the market with people looking to make a purchase before rates get too high.

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Mortgage Rates Below 5%

Just wanted to give a quick update to those savvy buyers looking to buy this fall. Mortgage rates are currently around or below 5%. The current 30-year fixed rate is 5.12% and there are some rates as low as 4.875% paying some origination/points. I will update this post with more info as it becomes available.