Mortgage rates are up this week with inflation concerns circulating. Some market participants believe that the Federal Reserve will raise rates more aggressively over the year than previously thought, according to Frank Nothaft, Freddie Mac vice president and chief economist.
So, if you were considering waiting for mortgage rates to drop lower before buying your next home, you may want to reconsider and make your move now.
Check out this weekend's mortgage rates provided by
Covenant Mortgage Corporation:
Conforming Loans: Loan amounts $417,000 & under
30 Year Fixed - 6.375%
15 Year Fixed - 6.00%
5/1 ARM - 5.875%
Jumbo Loans: Loan amounts over $417,000
30 Year Fixed - 7.25%
5/1 ARM - 6.625%
If you would like help with your next real estate transaction, please contact our team at
Vanderhoff Real Estate today. We can be your bridge to success!