Interest Rate Update

Here is your weekly interest rate update, courtesy of Andrew Chelton at F&M Bank.

Current rates (excellent credit, SFR, owner-occupied): F&M opens this week with the same conventional rates as last week: 4.00% for a 30 year loan and 3.25% for the 15 year.

Future/Overview: Looking ahead, additional information about policy changes under the Trump administration could continue to affect mortgage rates. The Consumer Price Index (CPI), a widely followed monthly inflation report, will come out on Wednesday. CPI looks at the price change for goods and services which are purchased by consumers. Industrial Production, an important indicator of economic activity, also will be released on Wednesday. Housing Starts will come out on Thursday.