Mortgage rates held steady last week ahead of Federal Reserve Chair Jerome Powell’s Friday speech at the Jackson Hole Economic Symposium. We will see more fully this week how the mortgage market responds to Powell’s hawkish tone regarding rising interest rates.
Here’s the latest report from Mortgage News Daily as of August 26, but please note: these interest rates do not constitute an offer to lend but are meant to represent and compare current trends. Rates are subject to change without notice and may fluctuate on any business day. All loans are subject to credit approval.
| August 26, 2022 | 52-Week Low | 52-Week High | |
| 30-year fixed | 5.73% | 2.91% | 6.28% |
| 15-year fixed | 5.10% | 2.37% | 5.45% |
| FHA 30-year fixed | 5.12% | 2.57% | 5.75% |
| Jumbo 30-year fixed | 4.92% | 3.03% | 5.25% |
| 5/1 ARM | 5.93% | 2.58% | 5.93% |
If you have questions about mortgage rates, please don’t hesitate to contact us. At 616 Realty, our agents are there for you, whether you are buying or selling, and your goals are our priority.