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Mortgage Rates Thursday, Aug. 17: Steady Following Fed Comments

Finding the Right Mortgage, Mortgage Rates, Mortgages
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Mortgage rates for 30-year fixed loans ticked up slightly, while 15-year fixed and 5/1 ARMs remained unchanged, according to a NerdWallet survey of daily mortgage rates published by national lenders Thursday morning.

Yesterday, minutes from the Federal Reserve’s July meeting were released. They indicate that some members have concerns about raising interest rates while inflation stubbornly remains below 2%. While there were mixed opinions on whether now is the right time to increase the federal funds rate, there was consensus that the Fed will soon be ready to reduce its bond holdings.

The U.S. central bank meets again in late September, but at the moment, it appears unlikely that rates would be increased before the December meeting.


(Change from 8/16)
30-year fixed: 4.01% APR (+0.01)
15-year fixed: 3.45% APR (NC)
5/1 ARM: 3.89% APR (NC)

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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