The 30 year fixed mortgage rate since around the middle of September has been consistently hovering around 6.0%. I’ve had a few days where it bottomed at 5.75%, but a few days at 6.125% as well. This is both good news for mortgage rates and also bad news. The good news is that rates have not gone up. The 30 year rate is still hovering around the 6.0% range, with a few days at 5.875%. The bad news is that mortgage rates have not gone down since the middle of September. It has actually been a super boring time with rates. We have even had two Federal Reserve Meetings during the past 3 months when the Fed cut their rate .25%. Mortgage rates did not move up or down from those meetings and actions. So we continue to market a 6.0% 30 year rate. However, keep in mind that the average 30 year rate for the past 50 years is 7.75%. Compared to that, 6.0% is fantastic!
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