Mortgage Rates Friday, June 30: Leveling Off

Current mortgage rates leveled off today after climbing for three straight days, as the rate for the 30-year fixed loan was unchanged, and both the 15-year fixed and the 5/1 ARM fell by a single basis point, according to a NerdWallet survey of mortgage rates published by national lenders Friday morning.

As reported by Bloomberg, some experts feel the markets “overreacted” this week to recent comments made by European Central Bank President Mario Draghi. While Draghi stated that he believed the European Central Bank would soon begin to remove the stimulus it is currently providing to markets through its bond-buying program, the bond market here in the U.S. remains quite attractive to investors the world over.

“Yes, interest rates crept up but now have, we hope, stalled,” wrote Rob Chrisman, mortgage expert and senior advisor at the Stratmor Group, in his daily newsletter. “But hope is not a strategy. They crept up based on some news from Europe revolving around the prospects of the European Central Bank’s eventually tapering off its asset purchases — something we can look forward to. Nothing really has changed here in the U.S. — thus the potential stall.”

MORTGAGE RATES TODAY, Friday, JUNE 30:

(Change from 6/29)
30-year fixed: 4.08% APR (NC)
15-year fixed: 3.48% APR (-0.01)
5/1 ARM: 3.89% APR (-0.01)

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NerdWallet daily mortgage rates are an average of the published annual percentage rate with the lowest points for each loan term offered by a sampling of major national lenders. APR quotes reflect an interest rate plus points, fees and other expenses, providing the most accurate view of the costs a borrower might pay.

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The article Mortgage Rates Friday, June 30: Leveling Off originally appeared on NerdWallet.

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