Mortgage rates for 30-year fixed loans held steady, while 15-year fixed loans slipped by one basis point and 5/1 ARMs fell by two basis points, according to a NerdWallet survey of mortgage rates published by national lenders Thursday morning.
This morning, the Federal Housing Finance Agency’s monthly House Price Index reported that U.S. home prices rose 0.7% in April and were up by 6.8% year-over-year. With homes selling faster and prices on the rise, mortgage rates have been the one thing keeping affordability in check. However, mortgage rates likely won’t stay this low for long, so home buyers who have been sitting on the fence and hoping for rates to move lower should consider jumping in.
MORTGAGE RATES TODAY, THURSDAY, JUNE 22:
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.
Emily Starbuck Crone is a staff writer at NerdWallet, a personal finance website. Email: [email protected]