Mortgage rates in the coming months

thats a damn long time for a closing, whats the deal?

Probably building and/or renovating...

quote:

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I am wondering if mortgage rates are expecting to fall in the coming months or should I try and lock in a low rate now?

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I'm no expert, but I would imagine they will hover around the same level all the way until spring. Its pretty much guaranteed the Fed isn't going to raise rates in Sept has predicted.

If the Fed starts raising rates in this environment, or next year in an election year, I would be absolutely shocked.

2017 barring a total economic meltdown and the raise will be .5-1%. That 5.5-6% area historically has been solid, but consumer mindset has become accustomed to 3-4% money.

Check the amount it will cost to lock 90 days out, it's usually not free. FWIW historically October is the lowest mortgage rate calendar month year over year. That would be in that free 45 day lock period. Stay on your builder to give you a 30 day notice of when to expect to close. Expect 30 days to mean 45.

It won't go up "significantly".

The market already has the expectation of the fed raising rates built into the current rates.

All things aside, I'd still lock in now. Rates are good and no reason collecting pennies in front of a bulldozer.

What are the rates today on a 15 and 30 yr?