Mortgage rates today for 30- and 15-year fixed loans fell slightly, while rates for 5/1 ARMs were unchanged, according to a NerdWallet survey of current mortgage rates published by national lenders Wednesday morning.
Fixed mortgage interest rates are at their lowest point since mid-November 2016, according to the NerdWallet Mortgage Rate Index.
In its April Economic and Housing Outlook, Fannie Mae says, “Recent declines in mortgage rates may motivate some home buyers to enter the market before rates pick up.” The government-sanctioned company that helps fund the mortgage market expects the Federal Reserve to raise short-term interest rates two more times this year, most likely in June and September.
Meanwhile, mortgage applications fell 1.8% from the prior week, according to the Mortgage Bankers Association report for the week ending April 14.
MORTGAGE RATES TODAY, Wednesday, APRIL 19:
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Homeowners looking to lower their mortgage rate can shop for refinance lenders here.
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.