Month in Review:
As we head into mid-November we are finding that mortgage rates increased for fixed rate mortgage (FRM) and decreased for adjustable rate mortgage (ARM) programs. The average 30-year fixed conforming annual percentage rate (APR) increased 0.058 percent to 3.713. In addition, the average APR for a 15-year fixed conforming APR increased 0.011 percent to 2.981 percent. Moreover, the average APR for a 30-year fixed jumbo increased 0.034 percent to 3.594 percent. We expect rates to increase as we head into the new year, caused by economic growth and stability.
Source: Informa Research Services is the premier provider of competitive rate and fee intelligence, sales and service evaluation, regulatory compliance testing and lead-generation services to the financial industry. Since 1983, Informa has provided the information clients need to make more profitable business decisions. Currently, Informa serves more than 6,500 clients including all of the nation’s top 100 financial institutions. Our earned reputation for extreme accuracy, depth of product information, and enthusiastic customer service keeps our clients renewing our services year after year.